In the age of convergence, customer churn is a concern for service providers, challenging most retention techniques...
As much complicated as the term data science sounds it is something that all of us practice in our daily life; either directly or indirectly. We make decisions every day, some based on data, some on gut or intuition and some based on our likes and dislikes. In business however, many decisions are made solely on the basis of data and as we move forward with the evolution of technology, the data based decision making is going to permeate across all sections of the enterpise.
With a number of digital and traditional channels now available to interact with your customers, businesses often find themselves asking some very intricate questions. One of the most important ones being, what is the best way for me reach out to my customer X vs. customer Y, does he like to see my promotion at 11pm before he sleeps or is he an early riser and I want him to see my ad when he reads the news on his iPad at 5am?
Before I answer the title question, it’s only fair I first tell you who I believe are the “16%”.
The recent news of Amazon hosting all the data related to the human genome project and making it available to researchers across the world is a very good example of collaborative research for the betterment of mankind. I am sure this step will help to speed up research and make information available to smaller organisations that otherwise would have to spend a lot of time and money to get hold of such valuable information. We need more of these kinds of collaborative efforts to help not only industry to prosper but to also make solutions more accessible, available and affordable.
In of the recent articles published on the internet the author was discussing the views of a senior executive of the US justice department about the risks of using advanced analytics or rather predictive analytics to assess the possibility of a convict repeating crime.