Top 5 Industry Use Cases of Python

Top 5 Industry Use Cases of Python

Widely-used and among the fastest-growing languages globally – Python is the go-to programming language for numerous enterprise developers these days. Python is used across diverse industries – mostly by data scientists and developers. Initially used as scripting solution by system administrators, then by programmers for web development, it is currently the powerhouse for machine learning. Based on reports by Active State, given below are 5 popular industry use cases of Python.

Insurance

Popularly used for: Generating important business insights with the help of machine learning

 

Case study: Small organizations employing services powered by machine learning were giving stiff competition to a leading multinational finance and insurance company in America. Taking the challenge, the insurers of this multinational corporation permitted teams to employ machine learning and design new applications. However, as a variety of data science tools were engaged, various compatibility issues cropped up. The company settled for a single version of Python and was successful in delivering all the machine learning facilities required.

Retail Banking

Popularly used for: Fluid manipulation and transformation of data

 

Case study: An American department chain store equipped with a banking unit collects information and stores it in a data warehouse, from where it is distributed to facilitate different applications, such as supply chain, analytics, retail banking and reporting. The company adopted Python as the standard for data manipulation. However, each team designed its own version, leading to some problems. Finally, the company selected one standard version of Python to bring down support costs and enhance engineering speed.

Aerospace

Popularly used for: Ensuring software system deadlines are met

 

Case study: The International Space Station approached an American multinational corporation on aerospace, defense and military to acquire several systems. Generally, aerospace software related to crucial safety systems is constructed in a language like Ada. But, such an outdated language isn’t well-suited for scripting tasks, data analysis and GUI creation. Opting for a Python version provided better contract value and zero exposure.

Finance

Popularly used for: To spot cross-sell opportunities and for data mining

 

Case study: In the course of a digital transformation project, a multinational financial company in America sought to mine complicated customer behavior data. Python was used to set off various machine learning and data science initiatives. Using these schemes structured data collected over the years were examined and correlated with unstructured data gathered from internet and social media. This project was successful in boosting cross-selling and retrieving resources.

Business Services

Popularly used for: Accessing financial data through API

 

Case study: A private media company working with financial data allowed their partners to access information via several electronic resources. In order to make the customer’s API their own, the partners wished to create desktop applications in Python and many other languages. Using Python a Software Development Kit (SDK) was built to benefit the financial information API. The end results were higher customer satisfaction and increased revenue.

 

For more trending news on Python, follow Techtree Technologies. If you’re keen on learning this highly popular programming language, check out our comprehensive Python programming training in Kolkata. Techtree also offers live project training program for job aspiring candidates.

 
This article has been sourced from: www.techrepublic.com/article/python-5-use-cases-for-programmers

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