Data science is the study of where information comes from, what it represents and how it can be turned into a valuable resource in the creation of business and IT strategies.
In Nigeria, data science can help sales and marketing departments in a company to mine customer data in an effort to improve conversion rates or create individual marketing campaigns.
Fraud Detection
Banks can mine data to enhance fraud detection. This can be done by sorting large data sets in order to identify patterns and establish relationships so that fraud can be detected through data analysis.
In addition, data science can assist banks in Nigeria in the use of data mining tools to risks models.
Empowered Decision Making
Data science can facilitate the decision making process among organizations in Nigeria, as data scientists are able to factor in quantifiable, data-based evidence into their business decisions.
Data-driven Decisions will eventually lead to;
- Increased profitability
- Improved operational efficiency
- Business performance and workflows
Recruitment
A major challenge faced by some organisations in Nigeria when inundated with applications, is that of recruitment. Data science comes to the rescue here.
Data science can assist recruitment processes in Nigeria by providing the following features;
- Internal processing of applications.
- Data-driven aptitude tests and games.
These feature can, to a large extent, help an organization’s human resources team make quicker and more accurate selections during the hiring process
Machine learning incorporation
Machine learning can significantly automate the data-processing portion of data science. By integrating advanced self learning algorithms, the processing of massive amounts of data in a fraction of the time it would take a human becomes possible.
Machine learning can be applied in the data science fields including image recognition and speech recognition. Machine learning algorithms are also being integrated into self-driving vehicles.
Streaming Services
Streaming services in Nigeria can, through the application of Data science, mine data to determine what its users are interested in, and use that data to determine what TV shows or films to produce.
Data-based algorithms can also be used to create personalized recommendations based on a user’s viewing history
Shipment
Shipment companies in Nigeria can use data science to find the best delivery routes and times, as well as the best modes of transport for their shipments.
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