The Data Science for Business Intelligence course was, for me, a way to work out how I could best extract and use data to stay ahead in a crowded online marketplace. People ultimately want to buy an item for the best price possible, so it was important that I stayed on top not only of my own company’s pricing but also that of my competitors. As an example, when the crypto mining business was big at the beginning of 2022, PC graphics cards were selling three or four times the price they are now. If you don’t keep an eye on the data, you could end up with a lot of stock you then can’t sell as the prices come down. With online businesses, you have to understand your competitors and your margins very closely. As an entrepreneur you’re getting a lot of information, but what you need to do is focus on data, and the variables that are the most important for turning a profit. I had previously studied the Strategic Branding: From Behavioural Insights to Business Growth programme at London Business School; I had a great experience and was keen to return to the school.

Through the data analysis tools taught on this course, I now feel much more comfortable with figures. I was able to build my understanding considerably despite never having used these specific tools. During the course I refreshed my knowledge on statistics and agile modelling, too. We were fortunate to have guest speakers from leading technology companies such as Oracle to bring data science to life. The need for data science is becoming more essential in the next five to ten years as organisations become more data focused, and I began to understand that concentrating more in this area – and not so much on, say, my day to day operations – could have a big impact on my sales.

I also saw the importance of algorithms through the course. In my kind of business, I show customers recommendations of products they might want to purchase together, which in turn drives sales. Without getting too far into complex mathematics, I was able to see how I might be able to drive more engagement and offer customers a more personalised experience through the data. It’s something you can’t do in a brick and mortar setting, where every salesperson has to remember to offer this and that to every customer, and might forget. Online you can use that data to boost sales, harnessing popups and discounts as you do so.