Data science had broad applications across many different industries.
If we focus on industries that are in the business of buying (some or all) of a company, then trying to improve the operations before selling then we can identify at least three critical stages for data science to play a significant role.
- Early Exploration: Mining databases for trend and customer insights
- Enhanced Pre-acquisition Analysis: Linking early exploration insights with company data. Testing growth, customer value and other key assumptions.
- Post-acquisition Value Creation: Leveraging internal and external data to improve operations, identify growth opportunities and enhance profitability.
Much of the current data science activity is in Stage 3, post-acquisition though there will be increasing activity in Stages 1 and 2 as companies see more of the value of investing in data science capabilities.
Note: The industries that are involved in these types of activities include: holding companies, private equity firms, family funds, VCs, investment banking, etc.
