Section 004, Instructor: Larry Dignan

Weekly Question #3: Complete by Feb. 12

Leave your response as a comment on this post by the beginning of class on Feb. 12, 2018. Remember, it only needs to be three or four sentences. For these weekly questions, I’m mainly interested in your opinions, not so much particular “facts” from the class!

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In your opinion, what industries do you see as most affected by data science? Or better yet what industries do you see has most likely to be disrupted by big data/data science/analytics? How do you see data science affecting your career? Relate your observation to the class material if you can and what I outlined for media.

34 Responses to Weekly Question #3: Complete by Feb. 12

  • The industry that utilizes data science the most will be affected by data science. That’s a norm. In my opinion, investment industry is affected by data science the most. Sometimes investors are responsible to manage a huge fund that they are managing for someone else or some other company. I do not hear much of data science incorporated to finance/investing industries, but I think it’s very important for the investors to utilize data science to make a judgment of which ones to invest into and how much to invest.

  • in my opinion, the industry i think is most affected by data science is social media. In todays age, all your previous searches and shopping interests follow us around. The ads that show up on all social media are personalized towards your interests. I believe data science can even affect your career. Data science has the ability to put your whole life into a chart that makes you comparable to all who you are competing against. For example it can compare your salaries, how much money you bring to the company, and the work load you can handle.

  • The industry that I feel is most affected by data science is the finance industry, specifically the stock market. With data science, more information is available to the average consumer than ever before. Consumers can make informed decisions on trades without the need for a stock broker. Insider trading, an illegal practice, becomes less and less useful in many situations as there is predicability in a company using the meta data that they release as a publicly traded company. As someone who dabbled in the stock market since elementary school, making my own stock decisions, I am extremely excited with the emergence of data science. At the end of the day, everyone in the finance industry just wants to make money and they will use all the tools available to them.

  • The industry I feel has been affected most by data science is education. Data science has allowed this industry to revolve mostly around technology. Education nowadays is more accessible to students both inside and outside of the classroom. With this being said, it gives the opportunity for assignments to be handed in online without having to attend class. Also, it allows professors to create online polls during class and students can answer questions and have their results and data recorded on the big screen. While there are many pros, I believe that a con would be that it slowly starts taking away in-person interactions. It also allows students to skip class and simply look up what they missed online. Likewise, in my future I think that the convenience of technology is nice; however, computers cannnot think as we humans do as far as logic and reasoning. I would like to manage a business one day. For example, if I have to order inventory and the computer has an error when I am entering data for how much of each product I need, it is best to have human interaction. Overall, I do believe data science has had a positive impact on people and their careers and will continue to do so in years to come.

  • According to Richard Beckman, I also believe that the financial industry is mostly affected by data science, most especially with Banking. Vast amounts of data are present in banks consisting of deposits, payments, balances, investments, and interactions with customers. Big data and analytics are also being improved constantly as banks compete for competitive advantages, according to Deena Zaildi in her article, “Data Analytics in Banking.” Also stated in that article, big data and social media create relevant databases that cold help a banks understand its customers’ habits, lifestyles, and appropriate financial products. As innovations and technology continue to improve data science will drive the banking or other financial institute industry.

  • The sports industry has become extremely affected by data science. Unlike the past, General managers in all major sports are not solely relying on scouts evaluating talent. Instead complex algorithms are now created to find talented players that may not catch the eye of the average scout. It is now also possible to create incredibly complex statistics that delve much deeper than the ordinary batting average or yards per game. With raw data collected from games, advanced statistics reveal new insights into a players behavior on the field that wouldn’t be possible 30 years ago. Data Science will have a huge impact in all fields. Businesses will use data science to make decisions and it will be interesting to see whether CEOs start seriously using the meta data they collect or resort to their old way of making a difficult choice by intuition.

  • From my point of view as a marketer, I think advertising and marketing have been affected the most. In the old days, agencies would throw up a billboard or a magazine ad with no real way of measuring if it was effective. Now, with the advent of digital marketing, customers can be tracked at every level of the funnel, and insights can be drawn from that data. Any ad agency worth its salt these days places a huge focus on digital marketing and the data that comes with it. The data has changed the modern advertiser from the creative, artsy types of the past to data analysts who are skilled with computers.

  • I think that social media is the field most affected by data science. I use social media for work and without digging into analytics I wouldn’t be able to use my social media to its full potential. People spend a lot of time on social media and reveal personal information. Everyone’s actions online go into massive databases that later on help influencers (like myself), social media companies, and politicians build their campaign using data they can glean from the way users interact. That could be times and locations of access, one’s social circle, type of device(-s), content, etc. Surprisingly, even that amount of seemingly blind information can help build a very accurate profile of an individual, which could be applied when choosing target audience.

  • I believe the most affected industry by data science is sales, before data science it was hard for sales teams to pinpoint their ideal consumer. It is also the most disrupted, for example the founder of wrigley gum gave every person in America a pack of his gum, if he had big data he could rule out who not to give gum too (diabetics, people who are allergic, etc). Data science is going to vastly affect my career, being a marketer I plan on using data frequently.

  • While all industries are affected in some way by data science, I believe that the marketing and advertising industry has the most to gain from it. At the end of the day, marketing is about targeting potential new customers in a way that will reach them. In order to more precisely target customers, advertisement agencies need to identify trends and similarities within their target market(s). By evaluating past and present data, these agencies can mold their marketing campaigns around what stands out from the data collected and make projections for their business. Data doesn’t lie, and in this case there is no better way to learn about your target market than by studying their habits and actions through data.

  • It is a complicated task to determine which industry is affected most by data science, since it can be used in every industry. In terms of my career, the media field relies on data science in plenty different ways. From social media and finding what elicits views and clicks, to determining television viewership and the impact of online streaming and it’s affect on cable, media can use data science to see what works best. The biggest question in media is the “dying out” of print journalism and cable television, and data science can be used to determine if that is true or not.

  • I see all industries being affected by data science; it is just a matter of how long it will take for these industries to utilize it. For example, technology and business are two industries that have already been impacted by data science. For industries like art and music, it will take longer to find ways to incorporate data science in a useful way. The industries that take longer to adapt are likely to experience bigger disruptions.

    As an actuary, data science is helpful for my career. It allows actuaries to make more insightful decisions. However, some companies have begun to replace actuaries with data scientists because of the similarities between the two roles and data scientists are less expensive.

  • The industries that I believe are most affected by data science would have to be the investing industry and marketing industry. Both of these industries deal with data science and are significantly affected by data science. Investing includes looking at all the data and making a decision whether or not to invest in what is being looked at. For marketing, data is a necessity to achieve the best profit and see what people are buying. Data science is a huge part in my major and career, which is actuarial science. I will look at data and find the probability of something happening. The risk all depends on the data that is given to me, and has a huge affect on my career.

  • Data science affects just about every industry in our current economy. In my opinion, the industry that is most affected by data science is social media or social media marketing. Present day social media allows extensive access to consumer insights, now more than ever before. From search history, to personal information, to consumer analytics, big data and data science has allowed marketers to gain more useful insights to their consumers than previously. As a marketer, I know data science will always play a large role in my career. More specifically, social media marketing will help me or any marketer to further our consumer insights.

  • I believe corporations that rely on profit are immensely affected by data science. The market and intended audience change so frequently, in terms of demand and interests, that monitoring these changes through data is crucial in order to sustain sales. That said, these corporation’s marketing efforts are very important and the need to constantly re-orient the message to gear advertising to a specific market becomes a major challenge. This would effect my career if I were to pursue an editorial position for a corporation as I would need to consult with a marketing team, who would need to be fully informed on our audience’s demands, so that I can write relevant information to that audience to pull in interest and sales — or risk losing both if I miss the mark.

  • The transportation industry has been very strongly affected by the integration of big data. I say this due to many types of transportation being transformed based on big data. It has had an impact on urban public transportation systems, air travel, commuter train travel, and has helped sprout relatively new methods of transportation like ridesharing, and car sharing. Transportation has become networked to help people get where they’re trying to go as quickly and efficiently as possible by collecting data that turns into algorithms to help constantly transform the easiest ways for people to get places. Eventually, the future of big data integrated into transportation will lead to the ubiquity of autonomous or unmanned vehicles. Data is necessary for this because it will account for geography, speeds, distance, weather, traffic and many other factors that go into travel and transportation.

    Data science has greatly affected my dream career. My dream is to work in the baseball operations department for an MLB franchise. The way teams evaluate players has changed a lot in the past couples decades due to the integration of big data and advanced statistics. Teams are trying to quantify things that once seemed impossible to quantify and using the data that they have collected to create an overall interpretation of a player’s value. There has been debate as to whether the integration of big data has made scouting obsolete, in my interpretation, it has not made scouting obsolete but instead has created another voice in the evaluation discussion, and has frequently shown its ability to overlap with the old ways.

  • I think the industries that are the most affected by data science are investing/banking industry and media/marketing industry. With investing/banking there is a lot of big data that is monitored of financial market activity and helps to monitor illegal activity. The media/marketing industry has huge data that is used to identify insights of certain groups and keeping track of social media content.

  • Big data is changing the marketing field in ways we have not experienced before. Data is changing the way we strategize, measure, and implement our tactics during different marketing decisions. One way that is changing is how marketers now communicate big data into a digestible form for both businesses and consumers. Niels Hoven explains how we can visualize data; therefore, making it better for others to understand. One key point for marketers to remember is simplifying the data, but not to oversimplify it in a way that it loses its importance and actually creates more data to look at. Knowing how to manage and create better visualizations of data will make it easier for marketers to communicate and share data.

  • I think the Industry that is most affected by data science is sales industry. In sales, people need to analyze a huge amount of data to predict the current trends. They need to figure out what is the most likely product that customers would buy and Try to keep ahead of their competitors that would do the same. Like the class material, I think that my work would likely be analyzed and my growth be decided on the benefits my works will bring to the company.

  • Personally, I feel one of the fields most affected by data science is economics, and even marketing or other social sciences. Data is an integral aspect of both fields, and additionally, it would be hard to study either well without data science. So much about it is about the numbers behind the activity– the story behind the numbers. I see myself interacting with data science through the world of sport mostly. Sport analytics is becoming increasingly popular as teams continue to try to gain a competitive edge, and I think that is the focus that I would like to work in during my career.

  • I think media tends to be most affected by data. Everything in the media is a number and it gets represented on a large scale. Social media is directly affected due to how they break things into groups. I am a Sports Management major and data is a big part of my field. I have to make decisions that will affect everyone around me and see what I need to do to have a positive impact in my work field.

  • In my opinion, I think the industry that that is most affected by data science is sales. With data, now companies can look at previous sales and see where they can improve to generate more revenue. They can see what are customers demands and see what is trending. I see data science affecting my career by analyzing other competitors and try to try to stay ahead of them.

  • I think that almost all industries use data science to some extent. In terms of impact, I think the finance, government/policy, healthcare, and technology industries use data for external and internal functioning. Data science plays a big role in major decision making, understanding behavior and generating leads. I want to pursue a career in technology, and almost every technology company has some data science team and strategy. Many sub-fields of data science boil down to engineering challenges, like applying machine learning models and building AI, and these require expertise in the fields of statistics, computer science and mathematics, but to implement these challenges for business decisions is where these models become useful and can be used by decision-makers.

  • One industry majorly affected by data science is streaming services such as Netflix. Netflix wants to know everything a user does on their service to form algorithms to recommend movies, shows, and even create new original series to tailor to the preferences of their audience. With more information and big data, Netflix can better find the trends of their users and keep them coming back for more movies and shows. As an actuarial science major, data is extremely useful. My field is all about calculating risk throughout a given population and with more data, I can make more accurate predictions and create safer and more reliable analyses.

  • Personally, I believe that the marketing field is most affected by data science. In marketing, you have to find who your target market demographic is, where they are, and how to get their attention. Advertising is everywhere, but most of it isn’t just blindly thrown out there. I am a marketing major and most likely will be minoring in MIS so data is about to be a very important part of my life. I have a good opportunity this summer to work for a company where I will be doing market research on their competitors and analyzing big data is probably going to be a daily task.

  • I believe two industries that are affected by data science are accounting and sales. These two industries need to track data from consumers and analyze it to match current trends that can constantly change due to countless activities. In sales especially, you need to track several different trends in order to streamline businesses. This makes data science very important as well as many other industries that data science is associated with.

  • The industry most affected by Data Science is the media. If the data that is being presented is skewed or incorrect, it could mislead a lot of people depending on the data. The increase in Data science allows for greater representations of Data, but could lead to more issues if not handled correctly. Data representation is a powerful tool that needs to be handled responsibly. The media should have set standards for presenting data.

  • I believe that the sales in any industry are affected by data science. I believe sales is greatly affected by data science because it is much easier to see who a specific company can target and at what price point they will be able to sell to a customer. Once they see what kind of audience and customer base they have the data will help them to market their product in the future as well because they are more knowledgeable on how to make a profit.

  • To see where data science is being most utilized all you have to do is look at the industries that are being or have been disrupted. Some relevant companies that have used data science to corner markets are Netflix, Uber, Alibaba, and social media networks. You can see data science starting to disrupt the financial industry as well. Computers now trade with each other. Also the trending concept of crypto currencies. Crypto currencies use blockchain technology, which is based on a data storage foundation that records every transaction it’s assoc with. The other everyday examples like e-commerce use data for marketing and pricing purposes. To a marketer nowadays, a valuable piece of data is an email or a phone number which can be used to advertise. An industry is like to see more innovation in is the healthcare industry. It is important however, that this data is the cleanest and most secure. My industry is real estate, which is notorious for being a slow growing industry. Data is definitely on the rise in real estate for MLS search and marketing research platforms such as TLOxp.

  • One field that has seen a huge rise in data science and analytics is professional sports. Specifically basketball which used to only record points, assists, rebounds, blocks steals and turnovers; now uses advanced metrics to measure a players efficiency rating, plus minus rating and true shooting percentage. All of which goes beyond the basic statistics the game was founded on. There was even a movie made a movie about data science and baseball (Money Ball) staring Brad Pitt and Jonah Hill!

  • http://www.nytimes.com/imagepages/2009/05/17/world/17disaster.grafic.ready.html

    This graphic was very simple, however, it was overly simplified. It is hard to know what natural disasters occurred and what populations numbers are hit (or at least the ranges). There is not enough detail to gain more information from it. We recommend adding more information and selecting the more likely occurrence for each natural disaster that will occur in its geographical area.

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Office Hours
Larry Dignan lawrence.dignan@temple.edu Alter Hall 232 267.614.6467 Class time: 5:30-8pm, Mondays Office hours: Monday hour before class, half hour after class or by appointment.