Data Science and analytics have gained traction in business over the past few years and will continue to show growth in the coming years. It has created opportunities for organisations to come up with better solutions. Learn more about the advancements in Data Science and Analytics over the past week.
The process of analysing raw data to gather insights and come up with an accurate conclusion or solution is known as data analytics. Maintaining baseline data is important for any organisation. They can maintain the proactivity of talent planning and performance management with the help of various data analytics tools. Creating a more personalised experience at the workplace with the help of data analytics can help organisations get to know their customers and employees better. This can ensure higher employee satisfaction.
It can also help in better business planning by giving us accurate information about customer demand. Slowly, workplaces are incorporating analytics as part of their day-to-day operations.
Ships carry close to $12 trillion a year and are critical to the global economy. They are a crucial part of international commerce, but recent events have taught us how maritime trade can trigger disastrous economic and environmental consequences. The explosion at the Beirut port earlier this month killed at least 171 people and injured several more. Such incidents force us to question what could’ve been done to prevent such a disastrous event, and how we can improve management.
The answer is to leverage the powers of predictive analysis. This can help us improve maritime intelligence, spot potential trouble, and make smarter decisions related to maritime trade. This can help us protect lives and the environment as well. Machine Learning models can provide a tangible guide to authorities to help in the prevention of future accidents.
For more such weekly guides, watch this space. You can also enrol in Great Learning Academy’s free online courses and upskill today.0