Young entrepreneurs are being urged to make use of the emerging field of data science to sustain their businesses.
With data science, entrepreneurs can measure and track the performance of businesses to enhance decision-making.
Project Lead at Kumasi Hive, Priscilla Serwaa Gyasi, explains the failure of some businesses to make use of data science is negatively affecting their growth.
“Making use of data science in businesses can help know your profit margins and make reviews when it comes to the growth of your business. With the knowledge, performance of employees can be assessed,” she explained.
To help train the youth in data science, Kumasi Hive has partnered with Mastercard Foundation to train young people in the Kumasi Metropolis.
The Kumasi South Startup Summit under the theme, “Data Science for Sustainable Development and Job Creation within the Kumasi Ecosystem” trained thirty youth in the field.
Trainees received digital skills which put them in a position to secure sustainable employment.
Meanwhile, trainees were put in groups to pitch data-driven business ideas.
Group Damima created a dashboard which helps businesses track their activities.
With the dashboard, cash flows are easily tracked.
‘The dashboard helps businesses make analyses and visualize how their products do. Products that are nearer to expiration and those that are not available are able to be tracked,” Mansura Yusif explained.
