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Applications of Statistical Data

              Some applications of statistical data are as follows:
                 • Recommendation system: Recommendation systems
                 use statistical data to suggest personalised content to
                 users. By analysing user's behaviour, preferences, and
                 historical  interactions,  AI  models  (e.g.,  collaborative
                 filtering  or  content-based  filtering)  recommend
                 products, movies, or music. Netflix, Disney + Hotstar
                 and  Amazon are  prime examples of platforms using
                 such systems.





                               Brainy Fact


                      E-commerce giants like Amazon and eBay use NLP for product recommendations and search
                      optimisation.




                                                                      • Price Comparison Websites: Price comparison
                                                                     websites are platforms that allow users to compare
                                                                     prices  of  products  or  services  offered  by  multiple
                                                                     sellers.  These  websites  leverage  statistical  data
                                                                     to  provide  insights,  trends,  and  optimised  pricing
                                                                     strategies.  Statistical analysis plays a vital role in
                                                                     organising,  interpreting,  and  presenting  the  vast
                                                                     amounts of price-related data collected from various
                                                                     sources.
                                                                       Examples of price comparison websites include
                                                                     PriceGrabber,  PriceRunner,  Junglee,  Shopzilla,  and
                                                                     DealTime.  Nowadays,  these  websites  are  prevalent
                                                                     across  various  industries,  including  technology,
                                                                     hospitality,   automobiles,   consumer   durables,
                                                                     apparel, and more.


                 • Weather Forecasting: AI uses statistical data  to
                 predict the weather monitoring the hail, tornadoes or
                 tsunami with great precision. Satellite imagery and AI
                 is  used  to  predict  how  different  factors  are  used  to
                 affect climate change.













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