Different Applications of Big Data AnalyticsMarch 30, 2021 No Comments
Featured article by Tamia Salter, Independent Technology Author
Image Source: Pixabay
Big data is a widely used tool which many businesses across a multitude of industries are able to harness effectively today.
If you are new to the concept of big data and want to better understand its potential, here is a look at just a few of the different applications which it is capable of handling, to bring you up to speed.
In the digital age, vast amounts of data are generated with every interaction between businesses and their customers. Digging down into this information using the latest analytical
Analyzing customer behavior tools allow all sorts of organizations to get a closer understanding of what customers want, so that they can then take action to meet their previously overlooked or misunderstood needs.
For example, casino operators like kazoomcasino.com can leverage big data solutions to track how customers use their sites, pinpointing the features, games and offers that gain the most traction and identifying aspects which are less successful so that improvements can be made.
The analysis of customer data is relevant in all sorts of other industries, from bricks and mortar retail to entertainment and beyond. And because much of the analysis can be automated and handled by machine learning algorithms, it is both quicker and easier to glean actionable insights into customer behavior.
Improving security & fighting fraud
Another important role fulfilled by big data is that of minimizing security risks associated with using a range of digital services, in addition to detecting fraud in everything from insurance to e-commerce.
Once again it is the power of big data services to crunch through huge volumes of information, sifting out the irrelevant aspects and identifying the anomalies and points of interest that come into play here.
While it would take human specialists a huge amount of time and effort to pick up on security breaches and vulnerabilities, or single out one fraudulent transaction from a list of thousands upon thousands, big data analysis can do this efficiently and automatically.
Big data’s analytical capabilities are being used to make business operations more sustainable and ecologically sound, which is important in an age when environmental issues are at the forefront of the conversation.
From minimizing material waste in manufacturing to optimizing fertilizer use in farming, there are a whole host of applications for which big data solutions are ideal.
This confirms the idea that one of the greatest attributes of big data is its flexibility; it doesn’t really matter what type of data needs to be processed, or what kinds of insights are hoped to be gained.
Pursuing medical breakthroughs
Healthcare is another data-intensive sector, and yet it has been slower to make the most of digital technologies than some other areas, in part as a result of concerns around patient privacy.
Thankfully the explosion in the popularity of big data has helped to break down many of these barriers and bring its might to bear on some of the most important medical crises of the current age.
Researchers are increasingly reliant on the sheer scale of modern big data platforms to process the staggering volumes of data involved in developing new medicines, unpicking the secrets of deadly diseases and otherwise working towards the kinds of breakthroughs that can really make a difference to people’s lives around the world.
So there you have it; the transformative impact of big data is difficult to underestimate, and its many commercial applications are impressive by any measure.
In combination with the rise in cloud computing, big data is arguably the most significant technology to emerge so far this century.DATA and ANALYTICS