THE ROLE OF DATA SCIENCE IN CHANGING THE BUSINESS LANDSCAPE

Abstract

Businesses come in different scale and scope. Almost every day we hear about a new company that has emerged somewhere in the world. Sometimes we learn that a friend of ours has decided to open his or her own business, or at times, ourselves might be tempted to undertake such a task. Whatever the case, one thing is for certain, we will have to deal with data which will have to be analyzed so we can understand how customers behave, what products people love or hate; this is the point when Data Science comes in help, by providing tools so we can extract the needed information to properly develop our business. This is of high importance if we can understand that we are living in a time when change is unavoidable and requires us to be always prepared. In this paper, we will try to evaluate this aspect in believing to provide a general overview regarding this very important issue.

Keywords: data science, data analysis, business, data management.