SINGAPORE, Nov. 19, 2019 /PRNewswire/ -- Kantar today announced the successful completion of the 2019 NUS-Kantar Data Science Hackathon. The hackathon played a vital role in bringing new ideas and analytical techniques to Kantar's extensive research business and developing young local talents in the field of Data Science and Machine Learning.
Kantar's Worldpanel division, which is a leader in Market Research in the Fast-Moving Consumer Goods (FMCG) industry, collaborated with National University of Singapore's (NUS) Faculty of Science to organise this hackathon for students taking the DSA3101 Data Science in Practice Module.
The Data Science Hackathon attracted 10 teams of six members each. The teams were given a challenging FMCG beverage purchase dataset to see how the business could maximise its profitability. Witnessed by a crowd of 50 participants at the NUS campus, the hackathon resulted in innovative solutions to tackle the business challenge. A team with a solution that focused on customer analysis emerged as the winner. The winning team's solution addressed the following three key business areas and questions:
1. Customer Purchasing Behaviour
- Do customers tend to have routine or sporadic purchasing patterns?
2. Customer Lifetime Analysis
- How likely is a customer going to purchase again if he or she has not purchased for a period of days?
3. Promotion Timings and Strategies
- When is the best time to send offers and vouchers?
"Kantar is excited to have the opportunity to hone the young talents in partnership with NUS Faculty of Science. The hackathon provides teams with challenges for them to solve with state-of-the-art techniques within the Data Science field," said Hernan Sanchez, Head of Expert Solutions, Asia, Worldpanel division of Kantar. "We hope this collaboration with NUS Faculty of Science will be a conduit to raising more professionals in the field of Artificial Intelligence."
"At the NUS Faculty of Science, we strive to ensure that the Data Science and Analytics Programme is rooted on strong mathematical and statistical theories, and balanced with real-world problem-solving projects. Hackathons provide students the opportunity to challenge themselves, compete in teams and network with industry experts and leaders. More importantly, this hackathon in collaboration with Kantar provided a platform for our students to apply techniques they learnt in class to solve real business problems. Students were inspired and they appreciated the challenge when they compete against their peers. The students produced outstanding business solutions and are now enthusiastic and excited about their future career as Data Scientists. This hackathon provided our students with practical and experiential learning that will greatly enhance their career-readiness as they have become more familiar and prepared for the business world. We are looking forward to more collaborative events with Kantar," said Carol Hargreaves, Director of the Data Analytics Consulting Centre, and Associate Professor in the Department of Statistics and Applied Probability and in the Department of Mathematics at the NUS Faculty of Science.
Kantar is the world's leading data, insights and consulting company. We understand more about how people think, feel, shop, share, vote and view than anyone else. Combining our expertise in human understanding with advanced technologies, Kantar helps the world's leading organisations succeed and grow.