Some of the Most Non-Traditional Massive Problems Big Data Is Solvingby Jessica Cyrus QA Engineer - Nexsoftsys
Big Data and its applications in ascertaining valued insights for a better decision-making process are growing in popularity every moment. Organizations are leveraging the immense potential residing in Big Data to drive their transformation strategies and bring about changes in their processes.
Big Data Analytics tools and technologies are eyed as a way to improve operational efficiency in organizations while driving new revenue streams. However, before employing an expensive software to carry out Big Data analytics, organizations should comprehensively study the Big Data scenario in their industry, the needs of their business, and the ROI they expect from their Big Data strategy. All these factors substantially contribute to the success of a Big Data strategy.
Big Data was a part of the buzzwords up until now, and organizations have only recently begun utilizing it to address real-time challenges and to solve real-world problems. Here's a list of the challenges and issues Big Data technologies are helping us solve-
- Evidence-based medicine in Healthcare – While most of the healthcare providers today use the same old notion of treating their patients with similar medicines and carrying out the same tests for all, there are a few healthcare providers who are here to innovate and disrupt. Evidence-based medicine allows doctors to match the symptoms of a patient with a larger database to facilitate faster and more accurate treatment and diagnosis. Big Data plays a vital role in this scenario as the data from a number of hospitals is collected and normalized.
- Fraud-proof Healthcare – Insurance agencies such as UnitedHealthcare are using Big Data analytics to detect identity theft and medical fraud. The company is using analytics to identify potential fraudsters according to the data gathered from a call center that is converted from speech to text and then analyzed.
- Sports Analytics – Firms have only recently realized that their data is more crucial than they ever imagined it to be. Sports teams are now working to transform the way they utilize their data. Booz Allen Hamilton's team, with the help of data analytics, was able to develop a system to predict any pitcher's throw with 75 percent accuracy. The system takes into account the in-game situations, the at-bat statistics, data from all pitchers who have thrown more than 1,000 pitches, and pitching measures to predict the next pitch.
- Improving customer experience – In the retail sector, almost all physical stores are integrated with the Internet via E-commerce stores. In doing so, businesses try to personalize their customer's experience on the basis of their demographics, location, and the devices they are using, amongst many other factors.
- Reading marketing trends – With Big Data, organizations are predicting how the highs and lows in the market will affect their productions, by helping them analyze their quality issues and the deviations in their processes. With an in-depth understanding of the market comes the knowledge about the customer's needs, and that is helping organizations drive greater results with personalized campaigns and insights about their customer's interests.
Big Data is the in-thing that is changing a lot lately. Make sure your organization is not left behind in the hustle of deriving knowledge from data. There a lot of use cases of Big Data technologies and analytics in every industry, and it has become difficult for enterprises to ignore them.
Created on Mar 23rd 2018 08:26. Viewed 960 times.
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