Fact—With the emergence of data science, information of interest about anyone including you and I, is now available to any business willing to pay for the data. Your information is no longer sacred in the age of data science. For instance, data about the type of goods you like to spend your money on, the restaurants you like to eat at and your hobbies. This type of data comes from advanced analytics—a segment of data science. Now as a consumer this may make you a bit uncomfortable. But, for a marketing or sales professional, this is exciting stuff!
This blog post will showcase the use of big data and advanced analytics to give insightful information. The other day I came across an interesting article published by The Washington Post during my train ride home. In the article, Ana Swanson mentions how cartographers and data scientists have started using the subway systems of cities such as London and New York to map and visualize urban data. As a result, MIT’s ‘You Are Here project’ did the same for the nation’s capital. MIT created a visualization of median household incomes across the different subway lines on the DC Metro. They came up with the results using census data for earnings within a half mile radius around each metro stop. Check out the results below.
*Silver line figures reflect five stations that opened July 2014
In the article, Swanson states, “Looking at the graphs, you can see that these higher average incomes result because of a sharp discrepancy in income between Washington’s eastern and western halves. These ‘wealthier’ lines all run into the richer Western suburbs, bringing up the average for the whole line.”
The full interactive version, visible here, lets you flip between lines and explore the income data for each metro stop. You can also begin using data in more innovative ways to help your business grow.