Section 002, Instructor: Larry Dignan

Weekly Question #3: Complete by February 13, 2017

Leave your response as a comment on this post by the beginning of class on February 16, 2017. 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.

41 Responses to Weekly Question #3: Complete by February 13, 2017

  • I see the healthcare industry being entirely disrupted by data science in regards to cyber-security, patient data to determine the effectiveness of medicines, and rating systems for specific surgeons and practices. Personally, I see data science playing a big part in my career because I plan to go into data analysis, where I will be aiding corporations regarding future decisions by creating clairvoyance through data. The downside is that the data I use for future endeavors may be biased depending on how it was recorded and the motive of the creator, unless the data is vetted properly prior to usage.

  • Although the hospitality and gaming industry may not be the most affected industry by data, the field uses a lot of data to keep customers satisfied and make money. Data is constantly being processed in real time from the floors of the casino into the databases, allowing the casino to individualize their offers to each customer. An example of this is server-based slot machines, which can alter the game based on the player and the amount of money put into play. It is like the Netflix example shared in class, where the game is matched to the individual to create an individualized experience. Although I am not in the hospitality and gaming industry, my field of music therapy relates to the entertainment aspect as well as the individualized treatment of each client. I will use the cues given to me (verbally and non-verbally) as my data to change the way the session is going.

  • I think think the industry that is most affected by data is the sports world. In football specifically, data is constantly talked about and discussed whether it be through scouting players through analyzing their numbers on tests of physical ability or through recording data to prevent injury and improve player safety. Statistics are also used to rank teams in their overall ability through recording touchdowns, interceptions, sacks, receptions, etc. Then those numbers are used to determine player value and so on. In every other type of sport however, wether it be bobsledding, competitive gambling, olympic running, or anything else, data is always a major factor. At the same time, data can do the total opposite and predict wrong. Players can be evaluated and actually become huge busts despite what the numbers said. How many times in the NBA was their a number one overall pick that was supposed to change the game and became a bust? Although I do not know what my career will be, I think it will have to do to with data and sports. I am very passionate about sports so i think it is a possibility data will affect my life everyday throughout my career.

  • Data science has revolutionized the online retail shopping industry. Data science has allowed company’s to customize the online shopping experience through predictive analytics. Online retail sites have the predictive power to make product suggestions based on previous purchases and browsing history. Companies also use data science to communicate via emails that are targeted directly to what you were browsing for or about abandoning your shopping cart. Online retail also customizes the marketing experience by filtering banner ads by browsing history on social media and search engines. Since all marketing is done online or through emails, companies can use data to track conversions to see if marketing campaigns were successful at making a sale.

  • While its obvious how important data is to making investment decisions, I imagine that there is a incredible amount of room for improvement and development in the theories, trends and methods of making money on stocks. Machine learning and Artificial Intelligence implemented in Investing Bots are making strides in the improvement of predictive analysis. I’m undecided as to a major but quickly approaching a decision between finance and MIS so all of these factors will be important in my career future. Even if I end up on an entirely different path, data literacy will only be more important than it is today.

  • As an Accounting Major, I can see big data influencing Auditing the most. The ability to hide bad data could be affected by the right auditor who has an emphasis on data analysis. This may make it more difficult for companies to be unethical. Tax accounting may not be as affected, although it would be helpful to see who is lying in their tax filing by comparing old data to new. These two areas seem to be the most affected by data science.
    In my previous life at Whole Foods, data science was becoming a part of our ordering and shopping process. The company had just begun a card system similar to the ones offered at conventional stores, but it collected data from people’s receipts and sent it to the buyer to give better information about sales and what needed to be purchased that week. In addition, it created coupons for each indidvidual customer based on their previous purchases. It also gave points for purchases similar to Starbucks, but instead of getting a general free item, they received periodic coupons for free items that they purchased often. This personalized shopping experience really seemed to appeal to customers.

  • In my personal opinion, data science can largely affect the marketing/advertising field. Traditionally, data analysis and statistics help evaluate the success of companies and brands in the market. With marketing and advertising gaining more space on the internet, however, big data analytics play an essential role in following the market trends and providing users with key statistics. These data are used by companies to maintain progress of their performance and keep an eye on the ongoing trends, as well as indicators of growth and important changes in the market.

  • As an advertising student, I’ve gradually learned more about how this industry works. The advertising business is continually using data to analyze its consumers and keep track of their spending. There are numerous reasons for the advertising industry to keep track of data which includes: tracking the companies success and growth or decline, tracking product sales and seeing which product are doing well or need to be improved, and most importantly finding out what consumers are interested in purchasing. As discussed in class, the “filter bubble” and web personalization is what allows these large corporations to keep tabs on their customers and take advantage of their data to manipulate these consumers to keep coming back. I see data science playing a role in my career because all large corporations are using this strategy today and it seems in order to be a successful company, data must be kept track of to understand how to sell more products.

  • Personally I’ve seen data analytics affect the professional sports industry the most, with a particular emphasis on professional baseball. The “analytics age” has seen professional teams rely on data more and more than traditional human scouting. Whether or not this is a good thing is purely an opinion, but with books/movies like 2011’s “Moneyball” you can begin to see how trends in data are being used to predict which players will be more essential to a team’s success. I most likely won’t end up in the professional sports industry, but as an MIS major I know data science and data analytics will be influential throughout my career.

  • Sports has and will continue to be affected by data science and statistics. Many teams consult analytics firms already, and companies like Pro Football Focus have gained such respect in their statistical analysis that their gradings of players are widely regarded as the hierarchy of NFL talent. Analytics is slowly seeping into other sports like soccer and hockey, and every year there are multiple metrics that correctly predict outcomes of seasons, teams, and players.

  • To begin I’m angling to end up in the public sector, preferably somewhere political such as the state legislature. That being said we’ve already seen how data science has begun affecting this area. As companies such as Facebook use large amounts of data to learn about you and to present to you only what you want to see then we see the result in that filter bubble we went over last week. I think it will also lead to greater amounts of targeting a certain constituency by candidates and political organizations though as they’ll be able to better identify who those moderate swing voters really are. I think this ability to identify these individuals remains to be seen if this is a good thing or bad thing but the filter bubble has already established itself in an extremely poor light.

  • Like some of my classmates, I see the sports industry being the most affected by big data, but more along the lines of sports gambling. I personally do not gamble or bet on sports, but I know a lot of individuals who do. Though there may be some casual fantasy gamblers who aren’t necessarily strategic their methods, I believe that the use of big data will help to drive the demand for gambling, especially since the market seems to be increasing its popularity over the years. I plan on working in the insurance industry when I graduate, and big data and data analytics will greatly assist in the efficiency in which insurance companies operate. For instance, if an underwriter has more information on the business or client that he or she is underwriting, then they are able to generate a more adequate premium price for the insured. Hypothetically speaking, more adequate premiums will mean that the insurer will generate more profits because portions of the premium are increased due to the expected risk that the insured will bring to the company.

  • I believe the sports industry is rather heavily affected by data, but the healthcare industry would more than likely be the most disrupted by data. The healthcare industry relies heavily on data to analyze and properly care for patients. Sports analysts rely on data to accurately report statistics about teams, players, and coaches. Data science will affect my career because I will be working in the sports industry. If I am a cap analyst for a professional team or work in the player personnel department I will need to know the statistics about different players. Teams rely heavily on analytics when drafting players or discussing contracts during free agency.

  • Data has affected sports for decades and will continue to affect sports for as long as they are around. The sports industry has been persuaded by numbers and data so much that any sports channel will be reporting some type of statistic. Football is a great example of a data driven sport. Data and statistics are constantly analyzed through injuries, scouting players, ranking, and many more. Football is seen through then data and statistic view and always will be. You can’t just turn on a game and watch it anymore without stats popping up every so often. As far as my career goes, I plan on becoming an actuary who analyzes data and statistics. So data science is only benefiting my career and the skills I would need for my career.

  • Two industries come to mind when talking about big data defining the future. Those two industries are education and the healthcare. In terms of education, I think that predictive analytics could be leveraged in many incredible ways to foster better learning and life outcomes for children. IBM already has a platform that develops pre-tests for students based off of teacher’s inputted lesson plans. Then, when a teacher plugs in each student’s grade on the pre-test, the platform is able to identify which specific learning activities each student needs to master in order to score “highly satisfactory” on the post-test. It’s very powerful. However, one issue with this is ensuring costs stay low enough and that the technology is affordable enough that not only the wealthier school districts have access to this intelligence. Technology in education must always be equally distributed. In terms of healthcare, there is a really good book called “The Patient Will See You Now”. It’s pretty cool because it talks about how we are entering a world where so much of our health data is becoming accessible to us, as the patients, that this data is really changing the anatomy of the doctor’s appointment. It will be very interesting to see how doctors’ roles change as patients become more informed about their health without needing to visit an office.

  • There are many industries affect by data science, among these industries data science plays different role. What I think the industry as most affect by data science is government. Government need all kinds of different data to know people’s livelihood, economic condition, military situation and so on. They have to use data to analyst and make different decision and policy. It is also easy to be disrupt by dirty data. I will work on business-related industry, data science helps build predictive models so that we can make right decision. If I work in a product-oriented company, with analyst customer’s consumption’s habit, I will know how to market our product and make it popular. So data science is important to business.

  • One industry that will be impacted by big data for the better is public policy. Too often there is a debate over big or small government. These debates miss the point; it should be whether policy is effective policy. These questions can be answered using big data. It can be used to determine laws regarding healthcare (think ACA) or public schools. Big data can help legislators create laws that will lead to the greatest amount of economic growth among other things. I hope to one day do economic research to for a think tank or public policy institute, so I will certainly use big data for my research.

  • I believe the industry most influenced by big data is the stock market. If big data shows that a company is producing goods that that consumers do not like then that company’s stock may decrease. And on the contrary if the company is producing goods that appeal and satisfy the consumer then more people are willing to invest and buy stock from said company. Big data can show how the consumers perceive a product or a company which could reflect the company’s stock price.

  • Data Science has been changing many components in our lives. Automating business processes is viewed as gaining a competitive advantage over industry rivals by freeing up resources but later implementing a headcount reduction. Loans are authorized or denied within seconds, shipping orders are completed effortlessly and corporations are able to complete large transaction via an ACH. Watson is moving into a space that offers medical advice. It seems that Data Science has offered the ability to automate our entire lives. With advancing technology in A.I and machine learning, most industries are being threatened. There isn’t a specific industry that is disrupted but an entire cultural shift. For now people with technical skills and the ability to solve complex problems are on the right side of the digital divide. To pick an industry for dramatic change: Healthcare/Medical industry.

  • The most important takeaway I learned is that data is important in any business. I understand that data will play a very important role in the future because how data has revolutionized businesses today. Like for instance, Macy’s announced closing hundreds of store, if it wasn’t for the evolution of data, those stores wouldn’t have been close. The use of data is crucial for up and coming companies to survive. It was very interesting to learn about all the different ways that QVC uses data to enhance their customer experience and boost sales. I liked learning about how to use data to figure out why a product was not selling well.

  • I think the healthcare industry is affected greatly by data science. Through different tests and studies, they are able to get a lot of data that can help with many patients find the right treatments in the future. Data can also distinguish which hospitals are better for certain reasons. On the other hand, there are also ways that it can disrupt the healthcare industry. Too much data might make it difficult to find a cure for certain diseases and also everyones body might react differently to treatments. As a finance major, I know I will be using data science and it will impact me greatly. It is important for all businesses if they want to succeed.

  • I think data science can affect food industry, and data can either make it better or make it worse. For the good side, because there are data websites in which customers can rate, restaustants will make more efforts to preserve their business images and improve their foods and services. For the bad side, because of the easy access to these websites, anyone can rate a restaurant for any reasons. Bad comments would convey a bad image of the restaurants to the public, no matter whether the comments were true or not.

  • I think data science is affected the most in healthcare. I and a lot of other people can agree that healthcare is extremely over price. We get this from data science. Data scientist get in a great position to research the information for healthcare. Although the health care industry has been notoriously slow to harness its power, we still have hope. People are still working to move towards to get more ‘evidence’ based medicine. Therefore, getting the ‘evidence’ is out data science in healthcare.

  • Data Science has had a large impact on Social Media platforms, which have been able to aggregate and analyze user data to gain insight into knowledge about individual users, their preferences and who they are. This has many effects, including the perpetuation of the filter bubble (i.e. Facebook which caters your newsfeed to your preferences and shows you ads based on that). Something I find interesting is that Facebook’s Data Analytics Team has partnered with the social sciences department in many universities to help answer questions about human relations and society; perhaps this is a field of study that will be greatly disrupted as a result of data analytics.

  • I think that data science has greatly affected the advertisement industry. The insight that big data has given to corporations and other businesses about their customers has allowed them to change the way that they create advertisements and who they show their advertisements. I dont see myself having a career in a field like advertising however I will definitely feel the effects of the changes that data science has made to the industry. Data science will cause me to see many more advertisements that are tailor made to make me want to buy a product.

  • In my opinion, the industry that is affected and disrupted the most by big data, data science, and analytics is the advertising industry. As an advertising major on the account management and media planning track, I realize that data and analytics possesses a large role when it comes to advertising and marketing. As digital advertising continues to grow and expand, the importance of data begins to increase. With traditional media, advertisers were able to give you an estimate reach, but with digital advertising, you can find out who clicked on your ad, where they were when they clicked on it, and you can even track that person so they can be later retargeted. There is one major issue when it comes to digital advertising: click fraud. Click fraud is defined as “the practice of repeatedly clicking on an advertisement hosted on a website with the intention of generating revenue for the host site or draining revenue from the advertiser.” Essentially, when advertisers pay per click, companies are handing over money for falsified clicks causing advertisers to believe they are driving more traffic than they actually are. Going into a career as either a media planner or account manager, data will have a large impact on my future endeavors. Whether it is researching consumer statistics to devise a strategic media plan or discussing key performance indicators with a client, I will be faced with data on a daily bases.

  • The marketing industry has been driven by data science in a way. Marketing Consultant firms have been created on the foundation of the marketer’s ability to use big data and analytics to help companies. Data is crucial to Marketing Majors, as we learn to take in data and create tactics and strategy based on the information. A marketing consultant gets payed well if he/she understands how to use data properly.

  • In my opinion the healthcare industry takes a huge blow from data science,records from drug experiments, patient records, hospital records. If were being honest where there is money there is bound to be some tweaking of numbers or making things appear like something else. Take for example results from drug experiments a company could be backing the production of a drug and they have invested a lot of money they may push the results in their favor and skew the data in order to not lose money. So healthcare is has a lot to gain and lose from what the numbers say so I think they are very vulnerable to data science.

  • I think the industry that is most effected by bug data is financial industry such as Banks and Securities. With analyzing big data, early warnings can be sent out for securities fraud and trade visibility whenever there is a suspicious activity. Banks can use big data to track their customers and detect possible card fraud and audit trials. With all types of data and analytics, it also can monitor and catch illegal trading activities in the financial markets.

  • As many others have stated, the sporting industry will be affected by data science. The existence of big data can help sport teams notice trends that can help the team. Teams can use big data to help with the process of recruiting players and scouting them. Relating to the sporting industry, fantasy football or betting on specific sports team will be affected as well, because people who bet can use big data to help increase their percentage of winning by noticing trends or patterns. Data science will affect my career because analyzing and being able to display the information in a simple manner will be a crucial skill. As big data gets bigger and bigger, the skill of analyzing big data will be important.

  • I can see big data disrupting small businesses everywhere. I can imagine corporations finding more and more ways to attract shoppers while the shoppers start to forget all about the little places and begin to only rely on bigger brand name stores to purchase their goods from.

  • In my opinion the industry that will be impacted most by data science is that of the insurance industry. This is because the vast majority of the industry is being shifted to younger generations of people who are well versed in new technology and data science. A lot of the segments of the insurance industry that used to be comprised of physical and paper activity have been replaced by data analytics. This is actually better for my career considering current schooling is allowing us to better develop these skills.

  • The industry that has most been affected (either positively or negatively) by big data is the sporting industry. Not only has the data enabled teams to more accurately evaluate their own players and opponents, but has also allowed the networks who put the games on television the viewing data to maximize their profits with advertisements. In addition, teams are able to use big data to utilize price discrimination (selling similar tickets for higher prices to those willing to pay more) which is either a positive or a negative depending on whether you are the one making the profit or paying extra. Big data will be vital in my career in order to model the most utility maximizing decisions that I have to make in my work as well as personal life.

  • The insurance industry is most affected by data science in my opinion, because it changes the ways that how the insurance company prices their policy. Insurance industry heavily depends on data collection to calculate the pricing of the policy, in today’s insurers have an enormous advantage through a judicious analysis of big data. Insurance companies have been empowered to improve their pricing accuracy, create customized products and services.

  • The field I believe will be most affected by data science is insurance. With more personal information being compiled on millions of people, insurance companies will be able to better understand the habits of their customers. Whether it be health habits or traveling frequency, they will be able to better evaluate insurance plans that are more personally customized around your specific habits.

  • I can see the pharmaceutical industry being largely affected by data science. With a lot of research in this industry, there is a lot of data to keep up with. In the future, I plan on going into data analysis so data science is going to play a huge role in my career. Earlier in class we learned a lot about how data analysis can be biased. This can affect the company I will work for because the biased data will affect future decisions.

  • I feel that the Tech industry is mostly affected by big data. I usually see the data being used to create applications across mobile devices, such as the transit app someone created to know where the buses are in real time. Me being a CS major, I find it interesting that someone can create someone and have it impact a city by saving them 600 thousand.

  • Although data science does have a significant impact on the advertising and sports industries, I’d argue that it affects healthcare the most. At the very top, the actuaries that decide our premiums rely heavily on data science when determining how “at risk” we are for certain health issues. Doctors rely on predictive analytics to make diagnoses or to decide which tests to run, and digitally catalog our hospital records to contribute to the volume of the data being used. Data science is becoming increasingly important in a ton of fields and is already paramount in the field I have chosen.

  • Healthcare & HR are the two industries I would say have the most potential for disruption. Both are massive industries that function on outdated, clunky programs. There is SO much data on so many different programs and from so many different sources. I see data science affecting my career in a huge way. Myself directly, as someone in marketing – but also indirectly in the companies I work with. I work in a coworking office around startups who are looking to find solutions to these kinds of problems.

  • I believe that while all industries will be in some way impacted by data science, the most disrupted industry will be banking. In banking, there is a great deal of information that needs to be sorted, and much of this information will reveal patterns in customer spending patterns, fraud detection, and especially any information regarding risk/risk management within the corporation. Graphic displays used to explore data can be especially helpful in this case, as Unwin talks about their ability to help generate ideas which the banking industry needs to keep up with rapidly changing times and actions. As I prepare to enter the marketing industry, I see major ways in which it can be impacted by data science. As we discussed in class, metadata is an important part of data science, and this metadata could be key for the marketing industry moving forward in gathering specific information on customers and deciding how and what to market to whom.

  • I feel as though researchers will be effected by data science. I say this because of the simple fact that if people have the curiosity to figure out why or how a specific thing occurred why would one need to pay someone to research a specific topic? Someone, not being a researcher, could figure out why a certain thing acts a certain way. What is there left for a researcher to do? I am actually not sure of the field I want to go into, but say I go into finance. It may affect the field I am in because of the ability for anyone to access information on how financialists organize certain things, which would make a person not pay a financialist to do their job because that person thinks he/she can do it himself.

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