TOP 5 APPLICATIONS OF DATA SCIENCE
Whether it’s data, data science, or Data Analysis; all this has been a part of our daily lives. The article lists down the topmost 5 applications of data science from a bunch of other existing applications. Join us @ Great Learning for the Data Science and Analytics Course and become a Data Scientist to know and invent more from it. Now let’s see the impact Data Science is creating and how can we be benefited by using it.
Fraud and Risk Detection
Fraud can come in many forms to you, to me and to each of us either individually or to the industry as a whole. Various techniques are used to get to the bottom of when and why fraud happens. They often use data science/analytics for this purpose. The primary advantage of data analytics is that they can deal with massive quantities of information at once. Through this, they can mark both the normal and abnormal transactions. It doesn’t remove the work done by humans to scrutinize the data and findings but the work is done substantially faster than people could do without help.
Targeted Advertising
Advertising Industry is much much bigger than we think. It is the branch where companies spend lakhs and lakhs of money to stand out from its competitors. But the ultimatum is that they want to spend the smallest amount of money and get the maximum increase in profit. The solution to this is Targeted Advertising. It involves determining where, when, and whom to display a particular advertisement on the Internet. Through this companies can get instant feedback and publishers can receive more knowledge about their users.
Speech Recognition
Google Voice, Siri, Cortana etc. are few of the best examples of speech recognition products. Even if you aren’t in a position to type a message by using speech-recognition your life wouldn’t stop. You just need to speak out the message and it will automatically be converted into text.
Augmented Reality
Augmented reality (AR) is a simple combination of virtual and real (computer-generated) worlds. Captured on video or camera, the technology 'augments' (= adds to) that real-world image with extra layers of digital information given a real subject. For example: The ability to walk around things and look at Pokemon on walls, streets, things that aren’t really there.
Gaming
By using data science and its twins in the Gaming Industry the users can get a real-life live 3D experience. The key feature of all types of games is data. You are constantly collecting data while playing a game, knowingly or not, on the current game state and making predictions and decisions based on this data. EA Sports, Sony, Zynga, Activision-Blizzard, Nintendo, have taken the gaming experience to the next level by using data science.
In the end - I would like to conclude that data-science is the backbone of every company now. By using Data Science, companies can arrive at better-decisions although each company has its own requirements. But the ultimate goal is to make businesses grow better.