Data Science Applications - UPDATED 2021
Manufacturing & Energy
scenario can lead to the end of oil production, particularly in areas where infrastructure is poor. Data scientists are a part of this ecosystem as they need to develop prediction models that can help predict which scenario would end oil production, for instance.
If a mechanism identifies a region as an epicenter for oil production and is implemented correctly, then a further step is to predict which scenario may lead to the end of production. Such data science developments in the energy sector are expected to drive the growth of this market significantly.
The best use of data science based applications in health sector is the prediction of outcomes of clinical trials using biomarkers. Most scientific articles do not talk about data even when they discuss biomarkers. This could probably be the biggest difference between scientific articles and data science applications.
Trial data should be collected using well developed data science tools like Genome Informatics Analysis Toolkit, Data Insights Toolkit and machine learning algorithms in order to achieve this goal. These tools possesses a extra advanced features within it.
The best predictor of trial success would be to predict biomarker changes which will identify if there will be success or not. In order to collect data from clinical trials we must analyze a clinical trial database of many large and complex diseases to find clinical trial outcomes and predict biomarkers.
Data scientists would collect clinical trial information from clinical trials database to build predictive algorithms to identify biomarkers which predict clinical trial outcome. As an example, we can predict biomarkers like LDL-C level or CRP in patients with asthma to understand if their asthma will be controlled and if they will respond to inhaled steroids for asthma management.
Banking & Finance
With the rapid growth of Data Science, Banking & Finance sector is pushing ahead to boost data and analytics applications. Businesses are able to identify opportunities and risks faster by analyzing a plethora of data while allowing decision makers to quickly move to action.
The banking sector make use of data to calculate and create lending plans and credit reports. This reduces the time and the process of lending or borrowing. Banks can make you aware of the latest technologies and provide you the detailed report with the analysis of your existing portfolio in a planned way.
Financial services organizations with deep analytics capabilities can use these tools to create faster and more accurate answers to any data-related challenge. For example, financial services organizations that deliver lending solutions can leverage data science in more effective ways to reach more potential borrowers.
Data science is raising the awareness and expectations of data consumers to the entire community. From other industries to healthcare, businesses want to learn from our ecommerce insights to improve their future business outcomes.
Many companies are adopting a data-driven approach, introducing data analytics to enhance the performance of their core business, to deliver better customer experiences or to discover new patterns in the data to take advantage of future opportunities. It Keeps updating businesses with consumer trends to design and develop new products that consumers actually want to buy.
The world is fully equipped with growing range of cars and vehicles, and their different applications. Data science helps businesses understand the situation and how the driving environment affects driving behavior.
Take an example of road structure, Every time we have a road change in a region, the network has to react accordingly. You have no doubt seen those pictures with cars stuck on the side of a river during flooding? That is the advanced application of data science in transportation.
Those accidents are caused by a bridge closing unexpectedly. We see the limits of the bridges and
therefore need to deploy a new one to keep the road open. This means applying a bunch of data science for the specific change in the environment that creates the risk.
The ability to monitor is another application. We monitor an area during heavy snow and ice by placing sensors. And the changes in the weather could indicate that the snow and ice may start to melt. We are now seeing an application for managing the risk of water bridges and storm water systems, which are not designed for high-water levels. Here find the detailed article – Data Science Application in Transportation
Apart from Google there are a number of Search Engines like Yahoo, Bing, Opera, Firefox, etc., uses the concept of Data Science during search operations. When we try to search anything, the search engine matches our search query with millions or trillions of data stored on the server.
Data Science makes the complete system so robust to manage and respond with the accurate seo optimized result based on the search query done by the users.
Fraud & Risk Detection
The most important application of data science is to improve the diagnosis of fraud. Obviously fraud detection is extremely important in regulated industries such as banking or securities. In those industries, fraud detection often comes at the edge or at the central level.
The combined concept of data science and AI at data centric companies can be considered extremely productive. They figured out how to isolate the information by profiling, past uses, and other important factors to investigate the probabilities of risk.
Banks, insurance companies, asset management companies, governments, retailers, consumer products companies, telecommunications companies, retailers, online gaming companies, and other highly regulated industries are some of the examples of companies that are very much interested in the application of data science and AI at their data infrastructures.
Both fraud & Risk detection applications of data science and AI are now evolving and being used by government organizations as well as by different industries. Therefore, the need to use data science and AI for fraud detection and prevention is undoubtedly important.
Utilizing cutting edge technology such as Google Earth, Internet of Things (IoT), AR/VR, machine learning and interactive maps with giant advancements in technology give us the confidence to continue with Data Science Applications.
The most frequent Data Science Application users are auto industries, their aim is to simplify and expand the overall navigation experience for passengers. With geographic analysis technologies such as Google Maps and Apple Maps, the process of navigating a city is less complicated, less stressful, and allows for more relaxed route navigation.
Over time the goal is to make the route planning system smarter and smarter. Current applications of data science with machine learning still rely on either the labels of features, the training data set or expert inputs in the form of reams of historical GPS information.
Each method generates a somewhat different combination of traits and information. A further challenge for data scientists is that their raw data is often not organized in a way that is easily used for modeling.
There are a number of new models emerging to tackle the problem of route planning through data science. In some ways, the new approaches mimic the techniques used in other areas of machine learning and data science like natural language processing (NLP) and big data applications.
Online Advertisement through data science is one of the most profit maker for most of the companies. World’s most widely used search engine Google is one of the best example of this mechanism.
We just covered how searching is a crucial application of data science & machine learning. In the same way Digital Advertisement has its own unique identity. The entire digital promoting spectrum starting from the show banners on varied websites to the digital bill boards at the airports – most of them unit of measurement set by data science algorithms.
This is the underlying fact behind “why digital advertisements have a far greater CTR than traditional ones“. they’re going to be targeted supported user’s past behavior. It means, based on the search behavior the system remind users about the product or item what they were searching previously on the internet.
Notwithstanding the incredulity, there is certainly a spot for Data Science. For voice acknowledgment applications, specifically, it appears as though Data Science will be the best approach. Many speech recognition devices or applications will be available during the course of the coming duration.
Some are normal language applications that will tackle errands, for example, reacting to client inquiries or giving other voice-enacted choices. Some are social applications and will react to expressive gestures and some will be applications with Data Science usefulness worked in. Speech Recognition is highly rated application of Data Science which provides almost accurate result as its o/p.
The applications will be altogether different; voice acknowledgment won’t ever be limited to straightforward content preparing, which is the norm for discourse acknowledgment. You have utilized Alexa or the Google Assistant or Siri on your cell phone, or Facebook Messenger on your PC are the best illustration of Data Science applications.
Most of the Fortune 500 Gaming companies have already stepped up to develop the next level of future games using the combined technology of Data Science & Machine Learning.
Through Data Science Applications the top rated games like Sony, Nintendo, EA Sports, Activision-Blizzard, Zynga have led playing experience to the next level.
The data science team at Candy Crush is using gaming data to build a custom machine learning model to distinguish different Candy Crush characters from the same person playing the game.
As the games move from just players with massive gaming data sets to a complex mix of players of different sizes, games are becoming more interactive and personalized. They’re combining data from their machine learning model with the voice recognition app to capture more vocal cues in player responses. Using this data and science they are building more personalized gaming experiences for players.
Best 11 Machine Learning Applications in 2021
The implementation of data science is trendy , while data science itself is revolutionary, the metrics applied are truly advanced & adventurous to learn, especially in the specific context of healthcare. Consequently, they pose a great deal of complexity. Data science is fundamentally a method for understanding complicated phenomena , coupled with the means to create models from the complex phenomenon .
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