How Analytics Can Affect Your Everyday Life

Big data and analytics are two concepts that often show up in conversations about business development, professional growth, and digital transformation. However, the reality is that many of us can use digital tools and analytics in every aspect of our lives, and some people are doing this already. Data and analytics exist in everything from the streaming services you use to your healthcare and medical services. As the world becomes increasingly digital and data-driven, information is finding its way into everything we do. Let's take a look at just some of the ways that data and analytics are influencing your day-to-day world.

Improving Your Financial Standing

Did you know that big data and analytics play a significant role in how you manage your money or even apply for loans? Companies that offer personal loans and student loans use analytics and big data to determine which people appear to be more of a risk than others. You can use data on your banking tracking app to figure out how much money you are likely to have saved by the end of the year if you invest in certain savings accounts and bonds. The right tools online can even search through data on hundreds of different lenders and loan providers to see how you can save money on existing student loans and other expenses, by consolidating them into a new loan with a private lender. Big data is at the heart of the student loan refinance environment.

Everyday Entertainment

Have you ever noticed that when you log onto a streaming service like Netflix, it can offer you insights not only into which shows and movies are trending, but which options it thinks you will like? This is an example of entertainment companies using analytics, big data, and even artificial intelligence to better understand customers, and build profiles of what streamers like to watch. By examining your previous watch lists, or checking out what music you listen to most, your digital entertainment services can get a good idea of what kind of content you might like to check out next. This makes it much easier for your devices to suggest the next thing you watch or listen to. There are endless examples of this in the entertainment world today.

Improving Healthcare

The healthcare industry is one of the best examples of how big data and analytics can change our lives and habits. Healthcare systems and applications can collect huge amounts of information to track and maintain personal records on the health of patients. However, these systems can also use the same data to track the movement of diseases, predict the spread of disease, and even pinpoint potential cures for common ailments. Healthcare and medical services groups are increasingly investing in not just big data, but intelligent algorithms too, to help improve the speed with which they come up with new treatment opportunities and even protect the privacy of the patients that move through certain treatment programs. In the future, data could even help to cure some of the most worrying ailments in the world.