This document discusses the importance of datafication for businesses. It provides 5 reasons why datafication is the future of business: 1) it provides insight into processes, 2) facilitates digital transformation, 3) enhances efficiency, 4) helps manage information, and 5) can be applied across industries. The document then describes Skillmine, a company that provides data services, analytics, and machine learning to help businesses strengthen their data capabilities and use data to improve products/services, marketing, and decision-making. It provides an example of how Skillmine helped a startup use data science to analyze customer data and grow 43% in 2 years.

1. REASONS WHY
DATAFICATION IS
THE FUTURE OF BUSINESS.
DATAFICATION
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2. CONTENTS
Table of
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Introduction
Datafication and its importance.
5 Reasons why datafication is the
future of business.
Strengthen the datafication of your
business with Skillmine.

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Introduction
What is Datafication?
Data has enormous power in the present
day. As a primary asset of organizations, it
is revolutionizing various sectors. Simply
put, data is the information stored in or
utilised by a computer, smartphone, or
other electronic devices. The process of
"Datafication," which includes the
identification of data, is seen by
businesses and analysts worldwide as the
way of the future of commerce.
The term "Datafication" was introduced in
2013 in the book "Big Data: A Revolution
That Will Transform How We Live, Work,
and Think," by Mayer-Schönberger and
Cukier. The conversion of human duties
and chores into data-driven technology is
known as datafication. Examples of
datafication include OTT platforms. The
streaming platforms allow the customer to
pick their favourite movie, and using this
data, the platform creates a list of options
based on their preferences.
Undoubtedly, data is here to support the
future of business, from smartphones,
industrial equipment, office applications,
and AI-powered gadgets.
Agile
management
01
Improved
operations
02
Better customer
insight
03
Data-driven
innovation
04
More insightful
market intelligence
05
Smarter
recommendations
and targeting
06
BENEFITS OF DATA FOR BUSINESSES

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Introduction
Importance of Datafication.
Any business model needs a datafication
system. In the digital age, it refers to
fostering an analytical culture throughout
all facets of the company. Datafication
requires both Machine Learning and
Artificial Intelligence to function
seamlessly, but gathering data from
multiple sources is the first step. AI
algorithms will then analyse the acquired
data to produce information that can be
used to make decisions.
By utilizing real-time data, datafication
enables organisations to enhance their
goods and services. Additionally, it has a
crucial role in gathering client feedback
regarding the calibre of the goods and
services an organisation provides.
In this eBook, we list the five reasons why
datafication can be a game-changer for
your business. Read further to explore
them.

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REASONS WHY
DATAFICATION IS
THE FUTURE OF BUSINESS.
DATAFICATION

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Why is Datafication a necessity
for businesses today?
Take a look at these reasons to
understand why you should implement
datafication in your business:
Gain insight into your processes: Raw
data is challenging to examine. However,
datafication can help turn unstructured,
confusing information into actionable
insights that let you evaluate your
organization's core processes and
procedures in a more detailed manner.
Facilitates digital transformation: Digital
transformation is becoming more crucial
for businesses to stay competitive and
relevant in the modern world. The key to
streamlining your processes, both
technologically and otherwise, is
datafication. Once the organization knows
where it stands technologically, further
steps can be taken to advance the
business towards innovation-driven
growth seamlessly.
Enhance efficiency: As a result of
datafication, your company can better
comprehend how it uses its resources. It
will help you utilise the resources more
effectively, including your workforce, and
boost production and efficiency across
your business. As a result, your operations
will be streamlined.
Manage information: Thankfully,
datafication makes the process of
handling large chunks of data easier.
Datafication ensures that the information
you collect is organized properly, enabling
you to use it to make decisions.
Can be applied to different industries:
Datafication is used by many businesses
and organizations. Sectors where
datafication is used, include marketing,
real estate, and human resources.

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Strengthen the data
prowess of your business
with Skillmine.

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Skillmine’s Data Services:
Your door to a world of possibilities.
Skillmine is a pioneer in database
management, Machine Learning and
Artificial Intelligence. Skillmine’s
Datafication process touches upon every
aspect of an organization, including
business workflows, strategy processes,
data governance, privacy aspects,
security and company culture. The Data
Science and Analytics capabilities of
Skillmine help businesses improve their
products and services by using real-time
data.
Other than Data Analytics and mining,
data-driven marketing is used to boost
consumer engagement, maintain
customer loyalty, promote workplace
innovation, and stop attrition. Skillmine’s
Data Analytics and Visualization solution
DATAV has been deriving logical insights to
enable companies to take better
decisions.

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How Skillmine’s data capabilities opened
avenues for enhanced business outcomes.
A start-up in the travel and tourism sector
based in the UK wanted help in better
pricing strategies, customer analysis,
brand marketing, and tracking market
trends, among others. The company
approached Skillmine to give an expert
hand in analyzing customer voice using
data science.
Skillmine’s data science capabilities
enabled the company to grow and adapt
to the market faster. The company
witnessed a 43 per cent growth using data
science in as little as two years. To process
the data, translate it to understand the
customer's voice better, and use the
insights for decision-making, Skillmine
used Data Science tools and techniques
(including DATAV).
The company used data to analyse and
gather user comments and spot trends
throughout the community. These trends
identified with the help of Skillmine’s Data
Science and Analytics services have
affected its business decisions and helped
the company flourish.

10. Want to
transform
your business
Know more
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