Remember the “Persil – Dirt is Good” ad by Mullen Lowe, London? Did you think why it was only “good” and not ‘better’ or ‘the best?’ Give a laugh if you read that Persil didn’t have enough ‘data’ to back its claim. Indeed, data is the only sophisticated dirt that doesn’t require a wash.
If you are someone with an analytical mindset and tech chops, data science asks for honing your business acumen, global awareness, critical thinking, and relationship skills. It helps if you have a stronger and broader toolset to explore better data science opportunities.
Five Emerging Data Science Fields for the Millennial
1. Music and Data Science Analytics
Data science has a significant contribution to the music industry. Data science analysis helps companies to analyze trends and predict the next big hit. If your calling is in the music industry, imagine joining companies like Spotify, Hungama, Saavn, Pandora etc. As a data science analyst, you assess market trends to help your company release relevant music that your audience is going to enjoy. Well, if you are interest is in movies, check out how data science is already transforming the movie industry.
As a data scientist in the music industry, your day is submerged in music while helping your company collect data to determine the ‘hype,’ understanding your competitor metrics, and understanding consumer behaviour to expedite sales.
2. Travel and Data Science Analytics
Watching National Geographic and TLC has inspired many millennial to consider a job in the travel industry. Here, data science can help you take a flight to land a job in companies like Tripadvisor, Expedia, Trivago, and the coolest AirBnB. You know working for these companies is a rewarding experience, but to attract a reward like that you have to be the person helping your travel company forecast bookings through artificial intelligence, machine learning, and predictive analytics.
With your analytical acumen, you can help your company scale in market-share through flight and hotel reservations, and customized destinations as per demography, age, and travel preferences.
3. Food and Data Science
Data science controls AI-enabled restaurant-management software. Consider Zomato or Swiggy. Think about how the surge price increases or decreases, how they market your favourite dish from your favourite or similar restaurant through geo-location, control food product availability, pricing, and changing trends in customer and general market preferences.
Will it creep you out if you receive an email from a food aggregator app tells you, “Hey, you’ve been to Asian Wok yesterday. Did you enjoy the food? We ask because satisfied customers always leave a review. Anyway, today is a good day, and you can enjoy amazing Chinese cuisine at a 50% discount at ITC Marriot.”
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4. Fashion and Data Science Analytics
Besides the apparent sales analysis, data science has taken a more advanced route in the fashion industry. Can you imagine a coding algorithm that can map the flow of demographics and their likelihood to purchase a specific style and brand? One of the biggest challenges is to control return. And to address this, companies like Stitch Fix, FabFitFun, or Wantable are rocking the fashion industry.
Not too far from here, analysts have attributed the bankruptcy of Forever to its failure in data analytics. At the same time, Zara so far has had a successful supply chain that is informed about colour and print pattern, gender-based purchasing behaviour, pricing, new product categories, management of online and offline businesses, etc.
5. Data Science and the Scope of Nerds
If you are a nerd and yet would like to try professions with direct impact on the earth, mastering data science can be a gateway to become a geospatial analyst, GIS specialist, remote sensing or environmental scientist and a spatial statistician.
As a pure-bred data scientist and mastery in statistics, probability, mathematics, and algorithms, you can glean useful insights from vast piles of unstructured data that is extracted, cleaned, and categorized by data engineers. Data is undoubtedly the only power that will empower you to lead the future. Read: Data Science applications in banking industry.
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“India has seen more than 400% rise in demand for data science professionals across varied industry sectors at a time when the supply of such talent witnesses a slow growth, said Talent Supply Index (TSI) by Belong.”
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You have the talent and the audacity of a millennial who can turn the world around on its own feet. Moreover, with over 6 billion (and counting) connected devices, and over 2.5 million terabytes of data being generated every day, imagine how by the next two years, millions new devices will be connected to the internet can generate over 30 million terabytes of data every day.
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Here’ you just need the theoretical and practical skills to ace in your domain with data science analytics. Wait no more, drill the rig here – Master of Science in Data Sciencer. You choose data science because the power of data rewards your cognitive muscles for the betterment of your future and that of the world.
What is KFC's approach to big data?
KFC, a fast food restaurant, employs Big Data to analyze customer input and menu preferences, resulting in a better customer experience and more revenue. The Cheesecake Factory processes and analyses massive data sets from 175 sites across the United States using Big Data-driven technologies.
What are the advantages of using big data technologies in the music industry?
In order to grow their market share, streaming services might use big data to generate music recommendations and offer unique material. It can also assist labels in partnering with popular musicians who are expected to provide a high return on investment. Overall, big data has the potential to improve music's fundamental purpose of bringing people together. Spotify, for example, leverages big data not only to provide tailored services and suggestions, but also to engage consumers in ways other than music streaming. The software was able to accomplish this by incorporating information from a variety of sources, including the user's listening preferences, album and song streaming.
What role does data play in travel-related applications?
The travel sector may benefit from big data in a variety of ways, helping them to make more evidence-based decisions. These include the capacity to correctly predict future demand, optimize pricing strategies, more precisely target marketing, and improve the consumer experience.