These are some examples of where Data science consultancy can apply to:

Airline route planning

Airline Industry across the world is known to bear heavy losses. Except a few airline service providers, companies are struggling to maintain their occupancy ratio and operating profits. With high rise in air fuel prices and need to offer heavy discounts to customers has further made the situation worse. It wasn’t for long when airlines companies started using data science to identify the strategic areas of improvements. 

Now using data science, the airline companies can:

1. Predict flight delay
2. Decide which class of airplanes to buy
3. Whether to directly land at the destination, or take a halt in between (For example: A flight can have a direct route from New Delhi to New York. Alternatively, it can also choose to halt in any country.)
4. Effectively drive, customer loyalty programs

Southwest Airlines, Alaska Airlines are among the top companies who’ve embraced data science to bring changes in their way of working.

Fraud and Risk detection

One of the first applications of data science originated from Finance discipline. Companies were fed up of bad debts and losses every year. However, they had a lot of data which use to get collected during the initial paper work while sanctioning loans. They decided to bring in data science practices in order to rescue them out of losses. Over the years, banking companies learned to divide and conquer data via customer profiling, past expenditures and other essential variables to analyze the probabilities of risk and default. Moreover, it also helped them to push their banking products based on customer’s purchasing power.

Delivery logistics

Who says data science has limited applications? Logistic companies like DHL, FedEx, UPS, Kuhne+Nagel have used data science to improve their operational efficiency. Using data science, these companies have discovered the best routes to ship, the best suited time to deliver, the best mode of transport to choose thus leading to cost efficiency, and many more to mention. Further more, the data that these companies generate using the GPS installed, provides them a lots of possibilities to explore using data science.

Digital advertisements

If you thought Search would have been the biggest application of data science and machine learning, here is a challenger – the entire digital marketing spectrum. Starting from the display banners on various websites to the digital bill boards at the airports – almost all of them are decided by using data science algorithms.

This is the reason why digital ads have been able to get a lot higher CTR than traditional advertisements. They can be targeted based on user’s past behavior. This is the reason why I see ads of analytics trainings while my friend sees ad of apparels in the same place at the same time.