The Role of Data Science in Modern Commerce
In the digital age, data science has emerged as a critical driver of growth and transformation across various sectors, with commerce being at the forefront of its applications. From e-commerce giants to small retailers, businesses are increasingly relying on data science to make informed decisions, enhance customer experiences, streamline operations, and gain a competitive edge. In modern commerce, data science has redefined how companies approach marketing, inventory management, customer service, and product development, among other areas. 1. Customer Insights and Personalization One of the most significant contributions of data science to commerce is the ability to gain deep insights into customer behaviour. By analysing data from multiple sources – such as purchase history, browsing patterns, social media interactions, and demographic information – companies can understand customer preferences, predict purchasing trends, and segment audiences more effectively...