Analytics in Telecommunication
Telecom company has to keep up with new breakthroughs in technology, stay ahead in one of the worlds most competitive industries, and adhere to a slew of regulations, the role of data analytics in telecom is to provide companies with the easiest way to uncover insights from all their data. Using a telecom data analytics solution that will help a company gain better insights will generate more profits. Such a system will also enable the company to stay one step ahead of its competitors and better anticipate its customers needs.
Analytics in Health Care
Healthcare analytics provide a combination of financial and administrative data alongside information that can aid patient care efforts, better services, and improve existing procedures.
Healthcare BI suites tend to emphasize broad categories of data for collection and parsing: costs and claims, research and development, clinical data alongside patient behavior and sentiment.
Analytics in Banking
Banking is one of the biggest applications of Data Science. Big Data and Data Science have enabled banks to keep up with the competition. With Data Science, banks can manage their resources efficiently; furthermore, banks can make smarter decisions through fraud detection, management of customer data, risk modeling, real-time predictive analytics, customer segmentation, etc.
Banks also assess the customer lifetime value that allows them to monitor the number of customers that they have. It provides them with several predictions that the business bank will derive through their customers. In case of fraud detection, banks allow the companies to detect frauds that involve a credit card, insurance, and accounting. Banks are also able to analyze investment patterns and cycles of customers and suggest you several offers that suit you accordingly.
Analytics in E-commerce
E-commerce and retail industries have been hugely benefitted by data science. Some of the ways in which data science has transformed the e-commerce industries are-
- For identifying a potential customer base, data science is being heavily utilized.
- Usage of predictive analytics for forecasting the goods and services.
- Data Science is also used for identifying styles of popular products and predicting their trends.
With data science, companies are optimizing their pricing structures for their consumers