Data is generated every day in every business sector making it difficult to store using traditional databases. Big Data is an emerging technology that has enabled organizations to manage a huge amount of data & create new business opportunities. Be it medical data, social media, organizational data, government records, transactional data and other data-based industries, every business deal with a massive volume of data from multiple sources. Research says the amount of data is expected to increase by 44 zeta bytes by 2020. The ever-improving capabilities of big data platforms enable various industries to examine data for analysis & get meaningful insights. Let’s have a glance at some industries with business operations shaped by services from leading Big data solution providers
Using Big Data, the healthcare industry has been able to understand the condition of the patient as soon as possible by analyzing the warning signs of illness at an early stage for effective treatment and lesser costs. It has transformed the way physicians identify and treat illnesses helping them enhance the quality of life and prevent deadly diseases.
With technological advances, everything has changed including the way we shop online as well as offline. Retailers using smart big data strategy are the ones that can understand customers, and their preferences for the product based on purchase history. From predicting the latest fashion trends to identifying customers’ interests, analytics plays a great role at every step of the retail process.
The banking industry needs to deal with many fraudulent activities every day, which can waste valuable time and resources efforts. Big Data helps banking firms to analyze countless bytes of data related to transactions, payments, etc. and get details based on user behavior. Using machine learning & big data, patterns are identified and used to spot anomalies enabling banks to catch frauds as soon as it starts.
By embedding sensors into manufacturing equipment, manufacturers can use Big Data to capture valuable data that help them monitor the condition and efficiency of those machines. It can also help in showing if any inventory provider is late in shipping or if there is any source of quality failure. Big Data plays a significant role in identifying potential sources of bottlenecks, which boosts productivity.
With the evolution of digital work, all the paperwork has gone online. The government branches deal with massive amounts of data, which leads to an overhaul of resource usage. Big data can help in automating the processes saving time and efforts of human resources. This not only boosts the performance but also provide insights that help in creating a connected and data-driven world.
The data from varied sources in the education industry can be turned into insights that can identify improved teaching strategies and focus on areas where students are not able to learn efficiently. Online training courses are making use of analytics to provide personalized education techniques depending on the student’s performance.
It is clear that data is already transforming almost every industry and those companies having a clear data strategy are the ones that are becoming the leaders in their fields. Data has become a primary asset for every organization that helped them to boost customer experiences with personalized services. As the amount of connectivity in the digital world increase, the importance of big data for any organization will grow significantly. Regardless of what your organization does, integrating big data into your business will unlock immense benefits keeping you ahead of the competition. Get in touch with the top big data services companies
that are offering customized solutions for the specific industries. Choose analytics and see how data can drive performance and competitiveness in your organization.