Why Data Science is so popular today?
What is Data Science?
With the development of science and technology, the scale of data available to human society is growing fast. From day to day, large amounts of data are generated and stored at all times.
For example, there are so many social networking sites go from your location to what you click and what you did. the data on all kinds of chicken, as you know, they don’t fear too much data, but they’re afraid of something that isn’t written down. Recently, a company called UrtheCast recently installed the first civilian high-resolution cameras directly on the international space station and kept taking pictures of the earth, capturing 2.5 TB(Terabytes) of data a day.
When faced with such a large amount of data information on how to mining the data representation, it becomes more necessary. Data Science is derived from that demand. Through the way of mathematics, a phenomenon that is hidden after a large amount of data is excavated. By learning and use of these phenomena, many of our daily lives can be quickly addressed.
Another way to make data science more comprehensible: we think of data as a language. Communication between human in words, and communication between objects in data. Therefore, if we want to understand their way of communication, we need to use the power of mathematics and computers to interpret their language. This process of translation is called Data Science.
Data Science in Supermarkets
The increase in data volume and diversity of data has also promoted many companies to conduct data analysis to support data-driven decision making. The following examples are the application of data science in supermarkets:
1) If the supermarket finds out that you’ve been buying certain vegetarian food for the past three weeks, it can predict that you will continue to buy these goods. When you pay the bill, you can print out a coupon, such as a “buy 1 and get 1 free” promotion. You will feel more willing to come to this store after taking advantage of the price. The supermarket also binds you firmly by giving you a discount, so that you will not go to other supermarkets. It’s called Predictive Analytics, analyze data to predict what might happen in the future.
2) The supermarket’s analytics team through the analysis found that the vegetarian food that you purchased had a certain signature, like low sodium, low carbs. Supermarkets can also recommend other related foods with these features. You feel very happy because the supermarket told you the product you need directly, and it saved you the trouble of buying things. Of course, the supermarket is also happy to sell more stuff for you and make more money. This is called Descriptive Analytics, analyze the data to find out what has happened in the past and what is happening now.
3) On Valentine’s Day, the supermarket concluded that condoms were very demanding, and rushed to buy condoms are just in need of customers. Therefore, the price increased by 20% directly. With Valentine’s Day over, the price of condoms is back to normal, but the morning-after pills are up 20%. Even if you find the price up, you’ll have to pay for it, or you’ll be a dad. Supermarkets maximize their own profits. This is called Prescriptive Analytics – analyzing the data to find out the best way to achieve optimal results.
Behind these intelligent, precise, and real-time decision-making, they’re all data science. The term “data science” is more commonly used in the IT industry and in other industries, such as Aldi, are often referred to as analytics.