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Now that we know the importance of data science and the prerequisites and skills needed for data science, it is important to know how data science can be applied in the real world.

Data science was first used in the financial and banking sector. Many financial institutions were sick of bad debts and their losses at the end of each year. Since they had collected large volumes of data when the initial paperwork is carried out, they had a wealth of information they could use to decide who they could give the credit to. They hired a data scientist to prevent future losses caused by bad debts. Financial institutions now have learned to collect, process, divide the data and assess it. They divide the data based on customer profiling. It also helped in the sales of banking products as they could do targeted marketing based on how much a customer earned every year.

Many healthcare companies use medical image analysis, content-based medical image indexing, wavelet analysis and machine learning models to detect tumors, organ failure and other procedures and frameworks. These processes make it easier to analyze and find the optimal parameters or points to improve diagnoses.

You can use data science to personalize treatment for patients, improving the treatment administered to patients for various illnesses based on research in genomics and genetics. This process aims to determine what the consequences of DNA are on our health and determine if there are any connections between genes and diseases.

It takes 12 years to develop a drug and a few months before it is tested and becomes an official drug. The process of identifying the drug and assessing if it will work on people is complicated and involves the use of many disciplines. Billions of tests often restrict the greatest ideas. You can use machine learning and data science to simplify the process and reduce the time taken to initially screen the drug compounds used to develop the drug. Algorithms and data science can also predict how the body will react to certain compounds in the drug using various statistical and mathematical simulations and models. This is faster to when compared to traditional lab experiments. The models can predict future outcomes with better accuracy, thereby simplifying the process.

When you think of data science, the first thing that comes to your mind is the search algorithm used on the Internet. Every search engine uses various data signs to provide the user with the best results of any query you key into the search tab. Google would not be the search engine it is today if the developers did not use data science algorithms to improve search results.

Most websites, such as Netflix, Amazon, IMDB and Twitter, use historical data to send suggestions to the users or customers to improve their experience. For example, if you want to make a purchase of earrings or clothes online, you may look at one website. Google will use that historical search to send you more suggestions. Instagram uses a similar profile as well. The recommendations made by these platforms are based on previous searches you may have performed.

Every marketing company makes use of data science algorithms to send suggestions to customers. Every advertisement you see at the airport or theatre on a digital billboard or screen on the website uses data science algorithms. Digital advertisements have been doing as well as they have since they can get a higher click-through rate when compared to traditional advertisements. You can use data science algorithms to use historical data based on the past behavior.

You may have uploaded a picture on Instagram, Facebook or other social media platforms. These platforms may send you a suggestion to tag your friends in the picture based on your previous pictures. This feature uses the face recognition algorithm to suggest whom you can tag. Google also allows you to search for some images by uploading specific images. It provides related search results by using image recognition.

Many organizations have developed a mobile application that helps patients visit doctors virtually to determine what is wrong with them. These applications are powered with artificial intelligence and have a chatbot that allows them to speak to healthcare professionals to understand their symptoms. There are many applications you can use to help remind you to take medication on time. Another example is the use of chatbots on different websites. You can speak to the chatbot and ask them any question you may have.

Siri, Cortana, Google voice and other voice assistant products use speech recognition to improve your experience with different gadgets. Your life may stop if you are not in a position to type. These tools convert the words you say to text, but it is important to note that this method of conversion does not perform accurately.

Airline companies have begun to use data science to identify different routes to optimize the airline routes. To reduce the heavy losses, airline companies bear due to an increase in fuel prices and heavy discounts to customers due to high competition, companies can use data science for the following:

Most developers have started using machine-learning algorithms in games. These algorithms learn from how the user plays the game and uses that information to help the player upgrade or move to higher levels. Even in motion gaming, the computer uses previous or historical data and analyzes it to provide the best experience. EA Sports, Sony, Zynga and Nintendo have taken the experience of gaming to a whole new level by using various concepts of data science in their code.

This is an interesting and exciting application of data science, and it is something many companies are trying to incorporate in their products. If you do not know what I am talking about, think about virtual reality headsets and glasses. These products contain computing algorithms, logic and knowledge to improve your viewing experience.

Data science and virtual reality have always had a strong relationship. Virtual reality products allow you to experience things you could not have in the past. For example, in the show' Bones,' Angela Montenegro, an employee of the Jeffersonian institution, sets up a virtual reality monitor that allows a child to take a trip in the Louvre. There are similar activities in Disney Land, United States, where you can take a parasailing trip without actually being in air.