REAL-WORLD APPLICATIONS OF DATA SCIENCE

1Mar - by aiuniverse - 0 - In Data Science

Source – https://www.analyticsinsight.net/

Today, in this modern era, there is absolutely no shortage in the implementation of data science to address real-world issues. Industries like healthcare, education, banking and finance, e-commerce to name a few make use of data science extensively. The fact that data is enormous and is increasing exponentially calls for a better implementation of data science.

What are the applications of data science in the real world?

Not one, not two but hundreds and thousands of fields make use of data science in ways beyond imagination. Had it not been for data science, the technological world wouldn’t have enjoyed the ease and comfort that we get to see today. Here are a few of the many applications that have changed everything for the better and made life easier than ever.

Medical industry/healthcare sector

This is surely one of those sectors that one cannot do without. This sector has seen probably the best applications of data science. Developing a drug is not as easy as it sounds. It not only involves deep knowledge but also a lot of patience and time in bringing the drug to the market. Sometimes, a single drug might require over 10 years to be developed. But data science in combination with Machine learning can aid in shortening the entire process. Not just this, with Data Science applications, one can also enable an advanced level of treatment through research in genetics and genomics. Integration of different kinds of data with genomic data in disease research is possible using data science. This further implies deeper understanding of genetic issues in reactions to particular drugs and diseases.

These are just two areas that make use of data science on a regular basis. But, what it is to be noted is that the use of data science in the medical industry is endless and can address a lot of issues with great precision.

Search engines

All the search engines like Google, Yahoo, Bing, etc. make use of data science algorithms to deliver the best result for the searched query and that too in a fraction of seconds.

Recommendations

E-commerce industry has been ruling the world for quite some time now. Also, while looking for a particular product, the list of suggestions, recommendations that follow cannot be unnoticed. This is exactly where data science comes into play. This happens in case of OTT platforms as well. Suggestions and recommendations based on the users history is a common scenario these days. Giants like Amazon, Twitter, Google Play, Netflix, Linkedin, etc. all implement data science.

Autocorrect and autocomplete

The number of people using smartphones needs no special mention. While typing anything, it’s quite a common scenario to witness the word getting corrected automatically. Also, while typing something, the rest of the word or sentence is completed automatically. These predictive search techniques employ the usage of data science that thereby help in saving the user’s time.

Virtual assistants

No wonder, the extent to which people are using virtual assistants like Siri, Alexa, etc. is way beyond what was expected. These assistants make use of speech recognition techniques to perform tasks like sending messages, browsing web, playing music, making calls, etc. There cannot be a better way to proceed with this than by employing data science techniques.

Manufacturing industries

The main objective of any business is to cater to the needs of the customers and also make profits. Similar is the case of manufacturing industries. But, what has served to be a game-changer for them is the advent of data science. Firms are making use of data science to optimize their production, reducing costs and boosting profits. It also allows them to predict potential problems, monitor systems and also analyze data.

Finance

The fact that the risks which banks and financial institutions have to deal with is alarming. Using data science, it is possible to identify, monitor as well as prioritize the risks.

In addition to the above applications, there are so many areas that can be dealt with easily using data science. Simply put, the list is endless when it comes to catering areas using data science. The potential that this technology has is immense and is known to address a lot of real-life problems as well.

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