How Big Data Help You Make Better Decisions
Big data plays a significant role in the world, affecting not only the business industry but also your personal life. It helps you make better decisions in life and determines what's best to settle with. We have been relying on our guts or instincts to answer life-changing questions like how we should spend our time, who we should marry, where we should live, and so forth. But now, there is a better way to figure that out.
Decisions are made much easier with big data, which provides much information about human behavior. Read ahead to know whether data-driven algorithms are better at making life-changing decisions than the human mind. Also, you'll learn the cases in which big data is more applicable in making these tough life decisions.
Decision making: Data-driven algorithms vs. human mind
So, do data-driven algorithms make better decisions than the human mind? Studies have surprisingly proven that algorithms are much better than people when it comes to difficult decisions. After collecting data on people's choices and how things turn out, researchers found that data-driven algorithms would have decided better.
These algorithms can make healthier decisions than doctors on whether a patient should get a certain procedure. Also, compared to judges, they can decide better if a defendant should be released or remain in prison. Even when deciding which teacher should be promoted, they will still make improved decisions than school principals. In short, data analysis is more powerful than human gut instincts, and it has also been proven in the business and sports worlds.
Cases in which big data is more useful to make life decisions
According to Seth, a former data scientist at Google, most people become blind when making major life decisions. But they can make better data-driven decisions with the help of big data. Below are cases in which big data can help you make better life decisions.
➢ Medical situations
It can be daunting to make the best possible decision for a patient and the healthcare industry as a whole. Therefore, health providers, researchers, and policymakers are turning to big data analytics models to help them make more informed medical decisions that contribute to better population and public health.
If you've noticed, most medical facilities digitize your medical records because later, that data can affect your life in several crucial ways. This is especially true when decisions are needed about your health situation.
➢ Marriage life
Making the right choice about the partner you want to spend the rest of your life with is important because it can affect your happiness. The good news is that data offers us new insights here as well. A study made by 86 scientists about over 11,000 romantic couples predicts their romantic satisfaction with the help of machine learning models. To their surprise, desired traits like height and attractiveness of a partner do not correlate with long-term happiness. Rather, psychological traits like security and a growth mindset do.
➢ Environment activities
Data-driven algorithms say otherwise about the activities we think give us more pleasure. For instance, most people think watching TV, playing video games, and browsing the internet are more pleasurable. However, evidence shows that activities like gardening, exercising, and museums bring more enjoyment. A good example is when watching a game where one team is your favorite. That might leave you unhappy when it loses.
In summary, researchers prove that data is much better for getting what you want in your life than trusting your gut. You can learn more about the benefits of relying on big data on our website.
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Considering implementing Big Data in your organization, some case studies on how companies employ Big Data to optimize their business performance mentioned above can be a good reference for your business.
Companies and hotels in the tourism and hospitality sector are also embracing big data because of the crucial role it plays in digital transformation.