Data science is the most trending career option that students are chasing in the present day. To become such a trending career option, it must have a wide range of benefits, scope and application. In this article, I will discuss about the different applications in the real world.
Search engines and Digital advertisement
All the popular search engines like Google, Yahoo, Bing etc. Use the algorithms of data science to deliver the best results which are searched for in very little time. Without its algorithms, search engines would not be able to provide thousands of results in a few seconds. It is also used for digital marketing. Starting from digital billboards to various digital display banners used in different websites. These digital advertisements can be created on the basis of the past behavior of the user and algorithms in data science helps in recording those past behaviors of the user and then providing that information to create a new advertisement which can influence the user effectively. It also acts as a recommender system as it records data and provides results according to the recorded data. Big companies like Amazon, Twitter, Netflix and many more use these algorithms to provide the users with the product that is required.
Image and Speech recognition
When a user uploads his or her picture on some social platforms like Facebook or Instagram, the user is provided with an automatic mechanized tag suggestion facility. This feature uses algorithms of data science for tagging and face recognition. It also provides some advance searching features like searching different pictures just by uploading a similar picture so the user doesn’t have to know the details of the picture in order to find it, else he or she can just upload the picture on the search engine and different results similar to the uploaded picture will be given. This feature uses the face recognition algorithms provided in data science. It is also used for speech recognition feature. It converts the words spoken by a person into text. The speech recognition system is a sub part of Artificial Intelligence (AI) which falls under data science. Popular AI products like Siri and Cortona uses this feature to execute the given task.
Popular companies like DHL, FedEx, UPS etc. use data science to upgrade and improve their efficiency to operate. It can be used to find the best possible routes for shipping; the best time to deliver the products, the best possible mode of transportation which also helps in reducing the total cost of the company. Moreover, the data which are generated by these companies with the help of the GPS that they use can be explored to a huge extent with the help of data science.
Risk and fraud detection
Companies have started using data science to save themselves from the losses and bad debts that they face every year. Over these years, the financial institutions have learned the ways to divide and then conquer through different methods like customer profiling, analyzing past expenditures and other important factors to check the probabilities of fraud and risk. It has also helped the financial institutions to push banking products based on the customer’s purchasing capability.