To say that data has changed global business is an understatement. Data is a key factor in how a number of industries maximize profit, from airlines to fast food to clothing production. Even public schools and municipal governments rely heavily on data to drive key decisions.
Take airlines, which have created complicated algorithms to determine how much each passenger will pay for each seat. Using data on the demand for each flight, airlines ensure they’re making a profit by dynamically updating the selling price of their tickets.