Data science news

3 Keys To Monetize Big Data

Here are three ways that big-data ana­lyt­ics is chan­ging tomorrow’s busi­ness.

1. Decisions Based on Facts
2. Unlocking the Value in Data
3. Business is a Game

The Future of Prediction: Predictive Analytics in 2020

Ten Predictions for the First Hour of 2020

Good morn­ing. It’s January 2, 2020, the first work­day of the year. As you drive to the of­fice, the only thing pre­dict­ive ana­lyt­ics doesn’t do for you is steer the car (yet that’s com­ing soon as well).

1.Anti-theft. As you en­ter your car, a pre­dict­ive mod­el es­tab­lishes your iden­tity based on sev­er­al bio­met­ric read­ings, ren­der­ing it vir­tu­ally im­possible for an im­poster to start the en­gine.
2.Entertainment. Pandora plays new mu­sic it pre­dicts you will like.
3.Traffic. Your nav­ig­at­or pipes up and sug­gests al­tern­at­ive rout­ing due to pre­dicted traf­fic delays. Because the new route has hills and your car’s bat­tery – its only en­ergy source -is low, your max­im­um ac­cel­er­a­tion is de­creased.
4.Breakfast. An en-route drive-through res­taur­ant is sug­ges­ted by a re­com­mend­a­tion sys­tem that knows its daily food pref­er­ence pre­dic­tions must be ac­cur­ate or you will dis­able it.
5.Social. Your Social Techretary of­fers to read you se­lect Facebook feeds and re­sponses it pre­dicts will be of greatest in­terest. Inappropriate com­ments are ac­cur­ately filtered out. CareerBuilder of­fers to read job post­ings to which you’re pre­dicted to ap­ply. When play­ing your voice­mail, so­li­cit­a­tions such as robo call mes­sages are screened by pre­dict­ive mod­els just like email spam.
6.Deals. You ac­cept your smartphone’s of­fer to read to you a text mes­sage from your wire­less car­ri­er. Apparently, they’ve pre­dicted you’re go­ing to switch to a com­pet­it­or, be­cause they are of­fer­ing a huge dis­count on the iPhone 13.
7.Internet search. As it’s your colleague’s kid’s birth­day, you query for a toy store that’s en route. Siri, avail­able through your car’s au­dio, has been greatly im­proved bet­ter speech re­cog­ni­tion and pro­fi­ciently tailored in­ter­ac­tion.
8.Driver in­at­ten­tion. Your seat vi­brates as in­tern­al sensors pre­dict your at­ten­tion has wavered — per­haps you were dis­trac­ted by a per­son­al­ized bill­board a bit too long.
9.Collision avoid­ance. A stronger vi­bra­tion plus a warn­ing sound alert you to a po­ten­tial im­min­ent col­li­sion — pos­sibly with a child run­ning to­ward the curb or an­other car threat­en­ing to run a red light.
10.Reliability. Your car says to you, “Please take me in for ser­vice soon, as I have pre­dicted my trans­mis­sion will fail with­in the next three weeks.”

Predictive ana­lyt­ics not only en­hances your com­mute it was in­stru­ment­al to mak­ing this drive pos­sible in the first place:
•Car loan. You could af­ford this car only be­cause a bank cor­rectly scored you as a low cred­it risk and ap­proved your car loan.
•Insurance. Sensors you vo­lun­teered to have in­stalled in your car trans­mit driv­ing be­ha­vi­or read­ings to your auto in­sur­ance com­pany, which in turn plugs them in­to a pre­dict­ive mod­el in or­der to con­tinu­ally ad­just your premi­um. Your par­ti­cip­a­tion in this pro­gram will re­duce your pay­ment by $30 this month.
•Wireless re­li­ab­il­ity. The wire­less car­ri­er that serves to con­nect to your phone, as well as your car has built out its ro­bust in­fra­struc­ture ac­cord­ing to de­mand pre­dic­tion.
•Cyber-security. Unbeknownst to you, your car and phone avert crip­pling vir­us at­tacks by way of ana­lyt­ic­al de­tec­tion.
•Road safety. Impending haz­ards such as large potholes and bridge fail­ures have been ef­fi­ciently dis­covered and pree­mp­ted by gov­ern­ment sys­tems that pre­dict­ively tar­get in­spec­tions.
•No reck­less drivers. Dangerous re­peat mov­ing vi­ol­a­tion of­fend­ers have been scored as such by a pre­dict­ive mod­el to help de­term­ine how long their li­censes should be sus­pen­ded.
•Your health. Predictive mod­els helped de­term­ine the med­ic­al treat­ments you have pre­vi­ously re­ceived, leav­ing you health­i­er today.

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