Modern organisations are inundated with data from multiple sources and efficient understanding, interpretation and modelling allow business to gain valuable insights to make smart, data-driven decisions. Data science is a rapidly evolving area where businesses and leaders will need to use technologies that can be embedded into routine daily activities.
Students from Newcastle Business School teamed up with leading advanced materials manufacturer, Freudenberg Sealing Technologies (FST), on an exercise to test the benefits of data science in solving real-world problems. FST is a leading supplier of advanced materials and products for customers working on automotive, industrial and alternate drivetrain applications.
Dr Colin Richardson, from Newcastle Business School, and Jose Queiruga, Vice President of Technology and Innovation at FST, met whilst Jose was attending the Help to Grow: Management Course, where Dr Richardson was the expert speaker delivering the Digital Adoption module. Having enjoyed the course and keen to understand what other collaborative opportunities might exist between Freudenberg and Northumbria University, Jose and Colin discussed how students might engage with a problem-solving activity within the business. Organised by Dr Richardson, the so-called Hackathon event was designed to highlight what is achievable when focusing a group of people on a data science challenge. Following a presentation by FST HR Advisor Andy Hale, 20 business students began working on two million rows of data provided by FST.
In just a few short hours, the students cleansed, categorised and developed a data model from the whole dataset. They even had time to generate some initial predictive models to forecast future sales. Producing visualisations to help make sense of the computer code and outcomes emerging from the data, the students demonstrated how meaningful insights can emerge from the simplest data structure, while highlighting further questions to support a deeper analysis. It demonstrates that data science is about much more than the correct choice of technology; it is also about the ability to think critically and ask further questions to develop truly meaningful insights.
Dr Richardson explained: “This was a great experiential learning opportunity for our students and an opportunity to work with a world-leading organisation. Events such as this show how effective our future graduates are in embracing both business and technical skills to support complex business environments, helping to uncover opportunities or issues that would have otherwise remain hidden. It also prepares our students to enter these environments in the most effective way as they develop their careers, including with major international companies such as FST.
“It was a great day, and I am very proud of our students and what they achieved. Well done to everyone involved, and a huge thank you to FST for making the experience possible.”
Students presented their findings to senior members of FST including Peter Johnson (Senior Vice President, Fluid Power Division), Jose Queiruga (Vice President, Technology and Innovation), Gill Hogarth (Head of HR) and Andy Hale (HR advisor). They also toured the facility to see how data influences real-world environments and the potential impact that can be made through harnessing data-driven decision-making opportunities.
When asked about the value of the data science project Jose Queiruga said: “To evolve, you only can ask the required questions when decoding the unknown past. Hackathons generate energy and creativity to resolve the invisible potentials.”
The students will go on to present their findings to the US-based Chief Executive Officer of FST and senior managers later this month during a planned visit to the UK’s site in North Tyneside. Colin and Jose hope to continue to explore further opportunities to collaborate in the future.