Book Image

The Art of Data-Driven Business

By : Alan Bernardo Palacio
Book Image

The Art of Data-Driven Business

By: Alan Bernardo Palacio

Overview of this book

One of the most valuable contributions of data science is toward helping businesses make the right decisions. Understanding this complicated confluence of two disparate worlds, as well as a fiercely competitive market, calls for all the guidance you can get. The Art of Data-Driven Business is your invaluable guide to gaining a business-driven perspective, as well as leveraging the power of machine learning (ML) to guide decision-making in your business. This book provides a common ground of discussion for several profiles within a company. You’ll begin by looking at how to use Python and its many libraries for machine learning. Experienced data scientists may want to skip this short introduction, but you’ll soon get to the meat of the book and explore the many and varied ways ML with Python can be applied to the domain of business decisions through real-world business problems that you can tackle by yourself. As you advance, you’ll gain practical insights into the value that ML can provide to your business, as well as the technical ability to apply a wide variety of tried-and-tested ML methods. By the end of this Python book, you’ll have learned the value of basing your business decisions on data-driven methodologies and have developed the Python skills needed to apply what you’ve learned in the real world.
Table of Contents (17 chapters)
1
Part 1: Data Analytics and Forecasting with Python
4
Part 2: Market and Customer Insights
9
Part 3: Operation and Pricing Optimization

Benefits of being data-driven

Transforming organizations into data-driven ones is not an easy task. It requires a clear focus on the objectives we want to achieve, as this transformation requires a lot of resources and creates a lot of inconveniences when changing the current process to make use of data for informed decision-making.

Wim Van Der

  • Which areas in these companies can benefit the most from the use of data science and engineering?

It depends on the company and its identity; I do not think there is one solution that suits all.

  • How can data be used to drive revenue in the context of economic contraction?

Economic revenue should no longer be the core drive for companies. Value in a wider perspective is. So, do not stare at huge piles of economic revenue; also look at ecological revenue.

  • How can data be used to reduce costs in operations in the context of rising costs in the supply chain?

Start with a DevOps team to analyze your...