4 years ago1,000+ Views
This article is really insightful. Here are some points that stood out: - "Businesses need to act swiftly, and taking action on reams of data requires a new kind of shorthand. Data scientists are using visualization to make underlying data sets more consumable and actionable, so what was formerly a 40-page report about an individual's track record in payments, for instance, can be reduced to not just a score but a trend. A dense report on a business's history can now be distilled into not just a rating but an interactive chart." - "Findings based on data patterns have significant consequences on businesses. Good data can help reduce risks for both enterprises and consumers. It can help consumers who wouldn't otherwise qualify for a loan or a mortgage, for example. It can help ensure that healthcare funds go to retirees rather than fraudsters. It can help ensure that nobody else claims your tax refund." I agree that data science can make a positive impact in business and our society as a whole. What are your thoughts? :-)
1 comment
I've always been a very visual person, so the fact that i can now see what might take 40 pages and a lot of studying in a graph or chart in no time at all really helps me to adapt and actually understand data. It's so true that we can use it more beneficially when we are actually understanding it quickly.