8 Ways Data Science Impacts Our Everyday Life
Date : Apr 08, 2020
Author : DR Armed Zayed
With consistent technological advances, data science has become a fundamental aspect of today’s industry. Not only is it emerging in almost every part of daily life, but it’s also changing the labor market as we know it, reports show.
Most people will often link data science with data leaks, privacy breaches, and techniques for maximizing profits, but it’s more than that. There is a lot more to this inter-disciplinary field than statistics, databases, and analytics.
This is not the type of tech that is only meant to be used by experts only. We encounter the role of data science in almost every possible aspect of our daily life. From searching for what to watch on Netflix to Googling, there are plenty of aspects where we use this tech in our lives.
To give you a general idea of how we implement it in our lives, we’ve decided to list some of the most common cases where we encounter data science. So, without further ado, let’s get right to it.
1. Media and Entertainment
People have always asked for a simplified search base, something they can use at any time, regardless of the situation. That’s why massive players in the entertainment and media industry had to up their game. Data science tech made that possible.
Companies in this industry use it for:
• Individual marketing
• Sentiment analysis
• Real-time analytics
• Recommendation system
• Distribution of content
• Analyzing and collecting client insights
Take Netflix and Pandora for example. These platforms have managed to take their services to a whole new level.
By analyzing behavioral patterns and client’s preferences, these platforms can now extract shows or music from their database to recommend to clients. Users can create a watch list based on a specific category (genre, favorite actor, popular options, etc.)
Data science analyses the client’s viewing or listening habits and allows the platform to customize their services every week as per the client’s preferences.
2. Shopping Online
Thanks to data science, the eCommerce industry is vastly on the rise. According to statistics, online shopping is predicted to reach $4.5 trillion by the end of 2021. The reason for that is relatively simple.
When someone is looking to buy something online, e-commerce sites will offer suggestions of something similar to what the client has ordered before. They can offer popular recommendations or something they might be interested in based on their search history. This is all the result of data science.
With this tech, online shopping websites can massively boost the user experience and analyze gigantic pools of customer data to understand their likes, patterns, and preferences to sell more products.
3. Internet Browsing
If we want to know something, write some homework, or search for anything, we just “Google it”. Google analyzes around 10 to 15 exabytes of data every single day, all thanks to data science.
All search engines like Safari, Firefox, Opera, etc rely on data science algorithms to give us the ultimate results in just under a second. If this tech didn’t exist, the search engines would be completely different from what we know them today.
4. The Finance Industry
This industry has always been focused on data, long before data science came into play. For the finance industries, data is a valuable asset and fuel. But, decades ago, analyzing and collecting this data came down to piles and piles of paperwork.
Data science is now more convenient. Companies can divide and conquer that data to their advantage. With this tech, it’s possible to avoid financial fraud, trace and track credit cards, collect and analyze data much faster.
Because of data science, banks have enhanced their security and other industries that store sensitive client information now have a way of protecting it.
5. Digital Marketing
Data science is an essential factor in online advertising. It has now become the norm. From creating display banners on various sites to sharing digital billboards, this tech has always been responsible for attracting more consumers.
Its algorithms are well-made to track clients’ past behaviors and find ads that will suit their taste. These ads can pop up when clients are watching videos or browse social media. Statistics show 85% of people have a higher chance of purchasing a product after seeing it in a video.
This method has been so popular that companies in 2019 spent around $306.59 billion on media and digital ads all around the world.
6. Facial Features Recognition
Face recognition is now part of our daily lives, especially with photo filters. But, this technology was considered impossible for our predecessors. It’s what we call the “wonders” of AI tech. The role of data science is to:
• Detect objects
• Identify features
• Recognize patterns
Regardless of the texture or facial expression, this technology can still identify matches based on the database. That means colors, shapes, and different images are now all part of the facial recognition technology.
7. Medical Care
To file, store, and manage patient records, employees in the healthcare industry had to deal with a lot of paperwork. Human error was a lot more evident and some records could easily be lost. This type of paperwork proved inefficient since the medical staff had to pay attention to it and lose valuable time.
With data science tech, this problem became a thing of the past. Because of data science, the medical industry has transformed quickly. Now, it’s much easier to control health records and access these records from anywhere whenever they need it.
Aside from maintaining records, the role of data science can be seen in monitoring tech. If there were any changes or anomalies in a patient’s health, the tech will immediately send notifications to alert the personnel. Therefore, improving treatment and supervision.
8. Airline Industry
The airline industry has a lot to benefit from data science. This tech has indeed changed many things in the sector from upgrading bookings to regulating maintenance and procedures.
This is a production technology that helps the industry find a proper way to store their data in real-time. It keeps the huge amount of data safe, reduces the chance of luggage mishandling, creates automated and immediate messages, and more. With technology such as this, the industry can improve its performance and reduce the costs of baggage loss, damage, and tracking exponentially. Simply put, data science has helped the airline industry operate more efficiently.
People are using data science in many aspects of their lives. The impact and value of this technology can hardly be overlooked. Whether it is for entertainment, advertising, or improving user experience, it has become a crucial aspect in today’s life. Only a few decades ago, this tech would have been a far-fetched dream. Now, we can hardly imagine our lives without it. Due to its convenience, functionality, and processing capabilities, this technology has been a valuable asset to our economy in various industries.