Personalization is the key to higher revenues and improved client experience. Customer behavior is difficult to predict, especially in the era of consumerism - clients utilize various patterns of behavior to interact with companies and individual merchants. We know for sure that every customer should feel special and treated with care. That’s why, when mulling over the idea of data analytics , many entrepreneurs start questioning how they can serve their customers. You may have tons of ideas, but you’ll never know how your potential customers will respond to them. Hence, Data Science is a safety net that shows what a no-no for your startup and how to morph it into a win-win.
Here is an example:
Startups operating in the e-commerce and retail industries put their back into getting to know their customers better.
What they need: the data on how they’re browsing products and, of course, Data Science software.
What Data Scientists do: analyze a product feed and the data about attributes that customers are browsing. So, it allows the generation of recommendations for the improvement of a startup’s operations.
Correspondingly, for fin-tech, medicine, logistics, mobile and web services, and so on, Data Science is like a breath of fresh air for them, making them innovative and helping them stand out from the crowd of millions similar up-and-coming companies.