Sense
Magnetoception (or magnetoreception) is the ability to detect the direction one is facing based on the Earth's magnetic field. Directional awareness is most commonly observed in birds, which rely on their magnetic sense to navigate during migration. It has also been observed in insects such as bees. Cattle make use of magnetoception to align themselves in a north-south direction. Magnetotactic bacteria build miniature magnets inside themselves and use them to determine their orientation relative to the Earth's magnetic field.
Magnetic storage
Magneto-optical recording writes/reads optically. When writing, the magnetic medium is heated locally by a laser, which induces a rapid decrease of coercive field. Then, a small magnetic field can be used to switch the magnetisation. The reading process is based on magneto-optical Kerr effect. The magnetic medium are typically amorphous R-FeCo thin film (R being a rare earth element). Magneto-optical recording is not very popular. One famous example is Minidisc developed by Sony.