Centric and Markteffect research on data science shows that the reasons why companies want to apply data science vary by sector. Whether in finance, retail or government, to make policy or to sell more products, each can benefit from the opportunities data science offers.
That data science is a promising field of research is beyond dispute. But what exactly is its purpose? The trend report on data science recently published by Centric shows that organizations see data science primarily as a means of contributing to improving efficiency within the organization.
The main objective (40%) that organizations see in applying data science is the contribution to improving efficiency within the organization. This is not only true for a sector such as business services; government organizations and organizations in the retail sector also see this as the main reason. Application of data science provides an acceleration of work processes. But it can also increase the effectiveness of decisions, for example in government. Being able to provide advice and services online and tailored to citizens reduces the workload and allows you to spend the time that is left on other things.
Organizations in transport and logistics see that data science can contribute significantly to increasing revenue. The financial sector sees the gains mainly in the application in the field of risk mitigation (risk management). As a result, they expect to be less concerned with supervision. In addition, cost reduction and insight into customer needs are also frequently cited reasons.