Analytics is used in many different industries, fields impacting the way we live and the way we do business. In fact we see some analytics in every walk of life. Be it the medicines we use, the websites we see, our activity on the social media, the sports we see and play, the way we spend, the way business is set up, customer identification…………………. The list can go on growing. In fact this is being extended to the fields it is not seen before. There are many examples of usage of analytics every day life. few are listed below, which have been initially identified and became game changers or given wide publicity. When some one sees this, they just feel the Awe of it.
Sports Analytics – Money Ball published in 2003 and written by Michel Lewis highlights how Oakland team used statistics and sophisticated analytics techniques to decide on the team composition and even pick the players. This has given the Oakland team definite edge in the leagues who used to rely on intuition.
Retail analytics – Sellers are increasingly depending on the patterns on the purchases and customer behavior. The challenge for these companies is getting the data and behavior without infringing on the privacy. The general usage in getting the 3600 view of the customer, Localized promotions, personalized offers and more importantly with the e-commerce growth, the website optimization as well.
Insurance – Perhaps the most widely used in the industry. Right from the calculation of premium to the identification of the fraud Analytics is used everywhere. This is updated regularly to ensure the target customers are reached. Analytics is used in promotion of the products as well in the industry.
Entertainment – Companies like time warner, AOL etc are using the analytics to get the reach, sentiments and geographic targeting, market segmentation etc. Videogame companies are using to predict the outcomes and win performance. These data is used to update the games. TV companies use it for improving the user experience.
Politics – Political parties now a days spend a bomb on the analytics right from identifying the candidate to targeting the political campaigns. In fact there is a science developed on political analysis called as psephology.
Social Media – Google started it all and everyone is following. social media sites are using analytics in big way to generate revenue and targeting the advertisements aw well as applications. The Massive amount of data generated by the social media is great source to improve the way the targeting is done. Twitter posts are used to identify the sentiment and even for crime detection.
We can keep adding the list but one thing is for sure. Big data and analytics are there and they in our lives. Every time we type a letter, we read a blog, we visit a website we leave some data trails and some one is analyzing that data. This is the fact. The usage may be for good or bad.
We used to say that there will be a digital world in the near future. This can be updated for the usage in we see a digitalized world which will be improved day by day using analytics.