My Zeo

  • Home
  • About
  • Blog
  • Lifestyle
  • Health
  • House
  • Pets
  • Fitness
  • Money
  • Contact

5 Interesting Applications of Data Science: The 3rd May Surprise You!

August 29, 2019

Have you ever been frustrated by a flight delay?

Has a medical professional ever told you that if they’d caught a problem earlier, your current condition wouldn’t be quite so severe?

Are you tired of receiving faulty products that always seem to break a few days after you purchase them?

If you’ve ever encountered any of these unpleasant issues, then you’ll be pleased to know that data science is working on a solution.

But how?

In this post, you’ll learn about some of the most popular — and most effective — applications of data science.

Some of the industries on this list might surprise you, but you’ll quickly see just how much both companies and consumers benefit from the incredible insights that data analytics applications have to offer.

1. Healthcare

Perhaps the most well-known applications of data science exist within the healthcare field.

Data science helps to automatically detect abnormalities in medical images (X-rays, MRIs, etc.) This means patients can get help earlier than ever before, potentially even preventing a specific disease or condition from becoming deadly.

Data science also speeds up the development process of newer, more effective prescription drugs.

Thanks to machine learning, in particular, scientists can understand the ways in which combinations of medications impact the gene structure and different systems within the body faster than ever before. This allows drug developers to understand whether or not the current combination is effective, or if they need to keep trying.

One of the most famous applications of data science in healthcare is that of predictive modeling. This allows medical professionals to not just diagnose the disease faster, but also predict the ways in which it will progress.

This means better treatment options and a higher chance of patient recovery.

2. Banking

Data analytics applications have also taken the banking world by storm.

Not only does it help banks to get a much deeper understanding of the resources they have available. It also allows banks to better manage customer accounts, especially when dealing with situations like fraud detection and investment/loan risk.

It allows banks to segment their customers.

This means you’ll get offers, advice, and other forms of communication from your bank based on your specific financial goals (business financing, retirement account updates, college funds, etc.)

Additionally, using predictive analytics based on past customer behavior, banks will be able to offer smarter investment advice, remind you to set money aside for upcoming expenses, and help you to save.

3. Transportation

The world continues to be fascinated by the concept of self-driving cars, but that’s far from the only application of data science within the transportation sector.

Rideshare companies like Uber and Lyft use data science to help them determine the cost of rides according to upcoming weather conditions, the scarcity of vehicles, the length of individual trips, and traffic patterns.

Additionally, data science helps to improve delivery and truck driver routes. This keeps everyone safer on the road and ensures that packages and other deliveries arrive on schedule.

It even improves overall fuel economy for drivers and the companies they work for.

Additionally, data analytics is a huge part of managing successful air travel.

It allows pilots and airlines to plan the most efficient and safest routes. They can also decide whether it makes more sense to fly directly to a destination or make a stop along the way.

It also helps to better predict future flight delays, so that you can stop waiting at the airport for hours on end.

4. Price Comparison Tools

If you’re a smart shopper, then chances are high that you’ve already financially benefitted from one of the most well-loved applications of data science.

Data science is necessary to provide consumers with price comparison lists and tools that allow them to get the best possible deals on the products they need. Using RSS feeds and APIs, data analytics tools comb through countless websites that sell these items online.

Then, they find the lowest prices and present them to customers all in the same place.

So, the next time you score a great deal on groceries, make sure you thank data science for the savings.

5. Manufacturing

Last but certainly not least, the manufacturing industry has benefitted from data analytics applications to an unbelievable degree.

The information collected can help manufacturers to lower production costs, maintain their equipment, and optimize production methods.

It even allows manufacturing companies to keep a closer watch on the amount of energy they consume, leading to greener production strategies. By analyzing customer reviews, data science applications allow manufacturers to make better products that respond directly to common customer complaints.

Thanks in large part to the combined power of the Internet of Things with data analytics, manufacturers are able to predict potential problems with inventory and raw materials. They are also able to avoid equipment malfunctions and can better understand customer buying patterns.

Were You Surprised by These Applications of Data Science?

These are just a few of the many recent applications of data science — and more are always in development.  We hope you now realize that using data ethically can make things much better in countless industries.

Want to learn even more about the ways in which technology can improve your health, make your business more efficient, and even help you to keep more cash in your wallet?

Curious about the kinds of software your company should use to track orders, assess employee productivity, and manage inventory?

If so, then you should bookmark our blog today. We’re always bringing you fresh posts with the latest news about what’s going on in the tech world. Make sure you hear about and implement them before your competitors do.

Leave a Comment · Blog

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About Me

Hello all!!!! I'm Darcy and I recently started writing on My Zeo about health and fitness (and part of that important health equation is sleep!). As we are all super busy with life, I try to integrate how to stay fit, relax and be healthy and happy through everyday life.

Facebook

My Zeo

NEWSLETTER

TeraHemp

The Role of Data Fabric in Current Data Management Practices

New technology is emerging every day, changing how we do things and rendering the existing systems . . .

Read the Post

Five reasons to choose camo seat covers from CarCoverUSA

If you're wondering which type of design to choose for your vehicle seat covers, camo seat covers . . .

Read the Post

Why Use Hemp Flowers?

CBD flowers (or hemp flowers) have grown in popularity as an alternative medicine for relieving . . .

Read the Post

6 Toy Trends of The Future

If you're a parent and are curious about what the newest trends in kids' toys will be in the future, . . .

Read the Post

Taking a Road Trip to Improve Mental Health

The health crisis has taken a toll on the mental health of a lot of people around the country. The . . .

Read the Post

Follow Us Online

  • Facebook
  • Google+
  • Instagram
  • LinkedIn

Copyright © 2018 myzeo.com

Copyright © 2021 · Simply Pro by Bloom Blog Shop.