The Flexibility of Big Data
Big Data gives people a competitive edge to work faster, and stay agile.
The concept of big data is around for decades now. But now many organizations have thought and some are thinking that if they capture all the data that brooks into their business, they can get significant value from it if utilized in a beneficial way.
The newly developed benefits that big data analytics if brought into picture can increase the speed and efficiency. If we look back few years ago, the people use to gather information, run analytics and start digging for information which can be used for future decision. But now people can identify the insights and take the decisions immediately instead of relying on the unearthing.
It would be inappropriate to say who are using Big data, instead it should be who are not! Because you name any industry, and they are using big data to harness there data and using it to identify new business opportunities.
Here are different organizations who are and might use this technology:
The data in Banks is skyrocketing every fraction of second. Financial organizations gathers and harness their analytical insights from large volumes of data in order to make proper financial solutions and decisions. Big data gives an ease to allow them to access the information they need when they need it.
It can also help detect any or all illegal activities that are carried out, like:
Misuse of Debit or Credit cards
Venture Credit Hazard Treatment
Educational industry is flourishing with huge data related to students, faculty, exams, forms, courses, results and what not. Eventually people have realized that proper analysis and study of the data can be used to improve the efficiency and operational effectiveness of the educational institutes.
Some of the fields which have been transformed because of Big data are –
Customized learning programs –
By creating customized learnings from each student’s learning history.
The Grade System –
With proper analysis of student data, new advancements in grading system have been introduced without error.
The Future Prediction –
With appropriate analysis of every student’s record, one can predict student’s strengths, weaknesses, interests from which even his career prediction can be done,
It is one of an industry which is again bound to generate a huge amount of data. Here are some ways how Big Data contributes in healthcare –
Treatment Cost Reduction –
Big Data gives you a chance to perform unnecessary diagnosis which eventually reduces the cost of treatment.
Predicting Outbreaks –
Helps in outbreaks prediction of epidemics and also to take preventive measures to minimize the effects.
Preventing Diseases –
Due to Big Data, it becomes easy to detect diseases in early stages.
Best examples of Big Dada in healthcare are – Apple’s Health-kit.
Let that be anything say - Electricity, Agriculture, Insurance, Health Welfare, Tax Evaders, Unemployment, Political decisions, Related to construction and etc. Let that be anything related to government and people welfare needs a big data that too on a daily basis.
Government even have to keep track of various records and databases regarding their Geographical surveys, citizens, growth and etc. one of the best example –
Cyber Security –
To track down the Tax evaders
The world of Entertainment –
Every person has a smartphone these day with also some add on gadgets! Which is one of the main cause of increase in use of Big Data in media and entertainment industry.
Media and entertainment industry are on the top list to extract benefits from Big data like-
Identifying interest of audience
Proper prediction of “Whom to show what”
Insights from Customer Reviews
Big Data is like a clay, which you mold anyhow but the result will turn out to be beautiful for sure!