What are the Key Applications of Data Science in Business?
Data Science has numerous applications in business, including:
Customer Segmentation: Grouping customers based on similar characteristics to tailor marketing efforts. Predictive Analytics: Using historical data to predict future trends and behaviors. Fraud Detection: Identifying and mitigating fraudulent activities in real-time. Supply Chain Optimization: Enhancing supply chain efficiency by predicting demand and managing inventory. Product Recommendation: Suggesting products to customers based on their past behavior and preferences.