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0:00
I'm delighted to be contributing
to this lecture series
on research methodologies
for application in business.
My talk is about
data science and
industry research
in relation to business
research methodology.
I'm the Technical Director of
NU Solve at Newcastle
University.
NU Solve is an engagement unit
in the School of
Mathematics, Statistics
and Physics,
dedicated to solving
research questions that
arise in industry.
We undertake consultancy,
training and research projects.
I'm also a founding
member of ENBIS,
the European Network for
Business and
Industrial Statistics.
I find that networking with
statistical practitioners and
other like-minded
people from around
the world is not only
enjoyable and rewarding,
but also helps me to deepen
my statistical knowledge.
0:47
In this talk, I will
draw on my experience of
collaborative research with
a wide range of companies.
I've had the privilege of
working on all
sorts of projects.
In particular, we'll offer
examples from the retail,
shipping management and
digital marketing sectors.
I aim to describe what
data science is and
how it can be used,
and how we can overcome
challenges to produce
useful results from our
industry research in practice.
1:12
First of all, what
is data science?
Data science uses a combination
of information
technology skills,
data analytics,
that is statistics,
mathematics, artificial
intelligence,
and business awareness.
In this talk, we
will focus mostly on
data analytics and
business awareness.
1:31
Why is data science so topical?
What is the motivation
for data science?
Well, there has been
an explosion in
the quantity of data collected
by business and industry.
The inexorable drive
towards digitisation in
modern manufacturing and process
industries is often referred
to as Industry 4.0,
and it's characterised by
increasing amounts
of measurement
and more detailed and complex
machine-to-machine interaction.
The availability of
such massive amounts
of data has led to
priceless opportunities
for companies and
business researchers to add
value through data science.
Data science enables
business and industry
to improve the quality of
their products and services,
reduce waste, save energy,
and tailor output to meet
customer needs, thereby
increasing profitability.
Data science and
industry research is
vital for business success.
