Data Analytics is stealing the market. Everywhere you see, there is an ad for learning data science, or there is someone who encourages you to get into the stream and to sum up, it is obvious, data science has a long way to go. So, if you are thinking of considering data science, here is a list of areas where data science has been extensively applied with the hope of potential growth and improvement in the future.
Security and Policing
The use of advanced data analytics and text mining tools has made it convenient to track criminal activities and criminals as well. These tools are being widely used for a long time now. Using data analytics in crime investigation and monitoring suspicious communication has proved helpful. The application of predictive analytics to both geographical and historical data, a comprehensive and definitive prediction is being derived to judge and monitor the possible criminal activities in an area.
Banking and Finance
Considering the solutions to multiple business problems, advanced data analytics can be called a blessing. The use of data analytics can easily derive correlations in banking, business information and current market prices. Not only for the business, but data analytics also help understand and evaluate customers on the basis of the data collected from them for a loan application and other related information related to their recent expenses.
The use of data analytics in delivery logistics has improved the operations and also made it more efficient. Analytics can be put to use to parse the real-time data obtained from GPS and the local weather to manage the delivery efficiently. It helps a lot in improving efficiency as the correct route, shipping date, and delivery date, everything can be predicted according to the areas. With the correct management, time, and money both are saved, and also the defined predictions help to avoid the loss of packages and accidents.
Smart City Planning & Development
Data Analytics has a lot of scope in this area like planning, spending, energy management, and web provisioning, everything can be handled using data analytics. It can help decide on the proper location of the structures while eliminating overcrowding and also design in such a way that it holds strong for and against future problems. Proper energy management using can be done in terms of optimizations, grid implementation, distribution, etc. All these works are sorted out properly using data analytics making the activities efficient and more productive.
Customer Relationship Management
Since the customer data is mostly stored, the preferences and behavior of the customers can be extracted from the record for a better experience. Data analytics also help in keeping up with the latest trends, filter potential customer, optimize pricing models, and address offers to customers as per their history or behavior.
Also Read: A Quick Tip On Customer Relationship Management (CRM)
Data analytics in the field of healthcare have been more advance than any other. Data analytics are the tool that can help predict possible disease outbreaks, and also their source or areas where the disease is likely to spread. The main focus, however, is on the clinical, supply chain, financial, frauds, and HR analysis. Data analytics are being used in healthcare for a long time now and expected to grow over time.
The leading search engine companies are the ones taking the most advantage of data science. How does our web search reach us so organized, ever wondered? It is because companies use heavy data analytics to search and index the web pages that are relevant, reliable, and credible. Considering the ocean of data over the internet already and also their growth, fetching the relevant data is quite a heavy task, but has been eased out with the development in Big Data Analytics.
Data analytics can essentially be used in institutions to design a methodology or a course by coordinating with the ability, learning style and pace, and preference of the students and the teachers. The aim of education data mining is to get a catch of learning behavior, educational support effects, and advancing scientific knowledge in learning. Focusing on the experiences and pace and previous knowledge, planning out a system for the student is another application of data analytics.
Research and Development
Using data analytics, researchers can hasten their work by compensating the traditional methods of testing, iterating, tweaking and repeating to get to a solution with variable data, by using automatic model generation in data science and training.
Studying the biological data with the help of data analytics can give us a lot of information on protein function inference, gene finding, protein and gene interaction, their network reconstruction, and a lot more. Further analysis can prove strong in disease diagnosis, prognosis, treatments, etc.
Here’s a list of some potential and effective application data analytics. The application of data analytics is sure to grow over time. So if you are thinking of stepping into the field, you might find your way right from here.