Here’s an age-old urban legend about Data Science and Analytics.
Many years ago (sometime in the 90s) Wal-Mart, the world’s largest retailer, is said to have discovered that at certain times in a week, beer and diapers sold well together. This was usually on Friday evenings when men went to supermarkets to get beer (to stock up for the weekend) and their wives called them asking them to get some diapers too (probably to stock up for the weekend too!).
And Walmart managed to track this odd customer behaviour and made the connection, with the generous help of Data Science. The retailer then decided to stack the two items close to each other. Odd as that might have seemed, it helped the sales go up dramatically.
Legend or myth, this is often cited as an example of customer analytics and the importance of analyzing data.
Here’s another (not a myth this one) – about the possible relationship between a mathematician and fighter planes?
If this interests you, then you may want to think about studying Business Analytics and Data Science. We look at one university that’s offering great programmes that bring together the two fields.