Data Science & On Demand Consumption

Today, tomorrow and beyond!

In an always on world where people are constantly connected to everything, consuming resources at an unheard of rate and tweeting, texting and snap chatting away, I sit back and wonder where this type of consumption will take us in the future and how we can use this type of consumption to solve real world problems.

I was asked by a friend of mine at Netflix what he thinks the secret to solving the traffic problem is. Clearly, this is not a simple one sentence answer but more of an idea on how to readily use the resources available to make calculated decisions in real time based on consumer sentiment, etc. In the case of solving what is widely considered a global problem of massive proportions, using resources from untapped markets really starts to become appealing.

What do I mean by this? Take for instance the idea of renewing your drivers license every “n” years depending on what state you live in. Some states mandate that a vision and driving test is performed every “n” years to validate said person’s ability to operate a motor vehicle while other states do not. It is highly regarded that there are too many cars on the road servicing an underutilized population where a major capex resource sits idle 90% of the time. By tapping into the DMV to look at an individuals driving history, last validated drivers exam and correlating that with insurance premiums, it is very likely that not only lives could be saved but certain portions of the population would be removed from driving and forced to consume on demand services such as Uber, Lyft, public transit, etc.

While this may seem like “big brother” and I’m not saying it isn’t, I can attest from personal experience that if metrics like this were used from insurance companies, state and local government and public transportation authorities, the amount of deaths incurred due to failed or non compliant driving exams, bloated premiums and underutilized resources would all go down.

Future predictions

Imagine a world where you aren’t chained to a heavy capex investment such as a car, insurance premiums, taxes, maintenance and most importantly costly gasoline. For those of you that know me well I am in favor of alternative forms of energy consumption such as electric (Go Tesla) and off the grid consumption via solar cells and solar panels.  Moreover, imagine a world where insurance premiums, taxes and even electricity are all priced in real-time based on demand and consumption, affecting every aspect of your life.

The old motto of paying for fixed resources like a cable package regardless of whether you use it twenty four hours a day or not is outdated. If I decide to go on vacation for two weeks and am not in my house, should I be forced to pay for a service I didn’t use? Certainly not. Those organizations that can harness the power of consuming their resources on a pay as you go model will ultimately be the victors in this new age of “x as a service”.

What new forms of consumption are you looking to see?

R.D.

 

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