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Real Time Applications of Big Data

The field of Big Data plays a vital role in various fields. Big data is a term that describes complex and massive volume of structured, semi-structured and unstructured data sets that can be extracted from information and used in machine learning projects, solving business problems you wouldn’t have been able to tackle before and other advanced big data analytics applications with the processes of analysing, storing and visualizing for further results.

Today Big data is most preferably used in government sectors, enterprises, organizations, companies and business… etc. So there are wide applications of big data in various fields such as banking, agriculture, chemistry, data mining, cloud computing, finance, marketing, stocks, BDA, health care…etc.

This article presents a brief about various applications of big data In these areas, each field has its own concept and gave its usage related to big data in more efficiently used, an overview has been proposed here.

Source: Edureka

1. Government

Governments deal with a very huge amount of data on daily basis regarding the citizens, their growth, energy resources, geographical surveys and many more. They have to keep track of various records and databases.

The use and implement of Big Data within governmental processes ensure efficient operation in terms of time, effort, cost, productivity, and innovation. These data sets are applied across a big data life cycle and it requires internal and external departments to work in collaboration.

Since Government majorly acts in a variety of areas, thus it plays an important role in innovating applications of Big Data in each and every domain. Some of the major areas are cybersecurity and intelligence, crime prediction and prevention, pharmaceutical drug evaluation, scientific research, weather forecasting, tax compliance, traffic optimization and welfare schemes.

2. Marketing

The insights derived from big data support a level of decision making that is more accurate and timely and the actions you take that make all the difference.

Studying, analyzing and combining big data with an integrated marketing management strategy, marketing organizations can make a substantial impact on customer engagement, customer retention and loyalty, marketing optimization and performance.

You can gain insights about who your customers are, where they are, what they want, how they want to be contacted and when, what influences customer loyalty and what keeps them consistently come back, how much the optimal marketing spend, which marketing channels are appropriate, as well as continuously optimize marketing programs through testing, measurement and analysis.

3. Healthcare

Big data has improved healthcare by providing personalized medicine, prescriptive analytics, predicting outbreaks of epidemics and also helps researchers to see what treatments are more effective for particular conditions, identify patterns related to drug side effects and deciding what preventive measures could be taken to minimize the effects, implement strategize diagnostics, plan for stocking serums and vaccines and gains other important information that can help patients and reduce costs of treatment.

It helps avoid preventable diseases by detecting diseases in early stages and prevents it from getting any worse which in turn makes the treatment easy and effective. Patients can be provided with the evidence-based medicine which is identified and prescribed after doing the research of past medical results.

Health care stakeholders, Pharmaceutical industry exports, payers, and providers now have access to promising new threads of big data knowledge and beginning to analyze big data to obtain insights. Recent technologic advances in the industry have improved their ability to work with such data, even though the files are enormous and often have different database structures and technical characteristics.

4. Manufacturing

Big Data has been the essential lifeblood of manufacturing, it drives improving efficiency, reducing waste, and increasing profit gains. Data is collected from numerous sources and turned into a blueprint for future actions for heading the way for manufacturing growth.

The main benefit of using applications of Big Data in the manufacturing industry is growing improvements opportunities of manufacturing and helping manufacturers predict future events, foresee risk, understand their extended value chain, Product quality and manufacturing process defects tracking, Supply planning and enhance the customer experience they deliver. 

5- Banking 

Big Data is a huge step towards the development of banking industries and it can offer a number of advantages for both, banks and their customers such as Fraud Detection & Prevention, Enhanced Compliance Reporting, deep insights into customer spending habits, and patterns, their needs and wants. As a result, banks will be able to categorize their clients and personalize services and offers.

Proper study and analysis of big data can help in data security and detect all the illegal activities that are being carried out such as the misuse of credit cards and debit cards, venture credit hazard treatment, business clarity, customer statistics alteration, money laundering, risk Mitigation and being more cautious about customers earnings, savings, mortgages, and insurance policies from ended up in the wrong hands.

6. Internet of Things (IoT)

As the Internet of Things (IoT) progresses, there will an increasingly large amount of unstructured machine data. The growing amount of human-oriented and machine-generated data will drive great opportunities for AI support of unstructured data analytics solutions.

Data extracted from IoT devices will become extremely valuable as an agent of change for product development as well as identification of supply gaps, the realization of unmet demands and providing a mapping of device inter-connectivity. Such mappings have been used by various companies and governments to increase efficiency, and this data is used in a variety of industries.

Big Data and Analytics used in IoT will become an enabler for the entire IoT ecosystem and business as a whole as enterprise begins to syndicate their own data.

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