There are plenty of reasons for companies to incorporate data science and machine learning into their business. It can allow you to better understand and predict customer behavior, automate repetitive manual tasks, detect errors and anomalies faster, evaluate business decisions with data instead of mere intuition, get an edge over competitors

So can a well designed data collection strategy, basic database software, a run of the mill stats package, and a little critical thinking for 1/1,000th to 1/10,000th the cost.

……give marketing campaigns more punch, check a box for investors, attract more talent for the organization, or brag about it at conferences.

Oh right. I forgot about that part. You definitely need machine learning and data science for that. I guess it’s worth it then?

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As hype increases with machine learning and data science an exponential growth in perceived business value is observed. Perceived business value only increases in a linear fashion with standard business practices (marketing, advertising, etc.). The actual business value (green dotted line) is also shown for comparison. It remains constant throughout.

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Research scientist (Ph.D. micro/mol biology), Thought middle manager, Everyday junglist, Selecta (Ret.), Boulderer, Cat lover, Fish hater

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