Top 4 Big Data Applications Across Industries
There are several ways to digitally transform your business. A digital transformation process is driven by three cutting-edge innovations: Internet of Things (IoT), Artificial Intelligence (AI), and Big Data among others.
These innovations help in completing the digitalization. And in this blog article, we will focus on Big Data and its applications in real-life scenarios.
Like we have mentioned before, there is a huge amount of information being generated every day by 7.5 billion people around the world from multiple digital sources. This massive volume of information is big data and it has changed how businesses and organizations work nowadays.
Since we have to face challenges in the data analyzing and studying process, there are some big data solutions developed to overcome these challenges, due to the data needs. Some can be named are Enterprise Data Architecture or Hadoop.
It doesn’t matter if it is a big or small enterprise, businesses can definitely utilize and be benefited from big data analytics. By gathering, analyzing, and understanding their data, businesses will be able to make the right business decisions.
Let’s look at how Big data can be applied to different industries!
The education industry is merged with an enormous data stream, from millions of students and teachers’ information to courses and exam results.
With proper study and analysis, education institutes owners can gain insights that are beneficial to their business in terms of improving operational effectiveness and efficiency.
Educational institutes can use Big Data in order to:
- Customize Learning Programs: Using the data collected based on students’ learning history, schools now can personalize and customize learning programs, serving students' learning needs and purposes.
- Reframe Course Material: according to the collected data, schools know what students learn and how real-time monitoring of the components of a course is beneficial.
- Improve students' results: the ideal of integrating big data into the educational system is to ameliorate students’ performance. By analyzing individual student behaviors in real-time (like how long it takes for students to answer a specific answer, which information sources they are using to do their assignments, etc) schools can create an optimal learning environment for each student and see the result when students are put into the right class and taught with the most suitable method.
- Provide professional career aids: each student data is being stored in the system, providing information about each student's strengths, weaknesses, learning process, and what they are interested in. By understanding all of this, schools can determine which career path is the most suitable for each student.
Big Data in Marketing
One of the most important components of a strong business is marketing. Because the nature of marketing refers to connecting customers with brands, it needs data, all of the big data to come up with effective and rational strategies.
Therefore, if any department of a company wants to get access to big data, high chances it is the marketing department.
The more information about the potential customers the marketing department has, the higher chance they will come up with strong strategies that not only help businesses to keep their relationship with their customers, balance the competitive advantages but also help in increasing sales and interacting with customers anywhere, at any time.
For example, a cooking oil company is about to release the new line of olive oils, with the help of big data, the marketing department can know:
- Where their potential customers live and have their store there
- What their target audience diet, e.g Mediterranean diet (fresh fish and garlic)
- Their target audience demography (genders, age, ethnic groups), behaviors, what problem they are having (this question leads to why should they use this new product)
Big Data in Healthcare Industry
Healthcare is another core sector of a country. It is undeniable that the healthcare industry contains a huge amount of information, here are some ways that big data can be applied in the healthcare industry:
- Reduce cost: imagine if all data of patients are stored in one system and synced across the nation, then there are fewer chances of having to perform excessive and unnecessary diagnoses.
- Patients can be diagnosed and provided with evidence-based medicine which is analyzed and prescribed based on past medical results.
- Patients' predictions for staffing schedule: data from various sources can help in predicting at what time how many patients are expected to be at each hotel.
- Telemedicine: with the arrival of smartphones, wireless devices, online video conference, telemedicine has finally come into full bloom since remote clinical services are based heavily on technology.
- Avoid unnecessary ER visit: taking the COVID-19 pandemic for example, due to the excessive amount of panic patients arrive instantaneously at hospitals all around the world, health provider are fully occupied, everyone is stressed and can’t perform their best due to the number of patients who are not in their right mind.
In Media and Entertainment Industry
Taking the Youtube algorithm for an example, every day, billions of people access the website, leave their data there, and what does Youtube do with all the data? They collect and analyze it in order to gain insights, predict the interests of their audiences, and create a field for advertising to jump in.
Amazon offers videos, products, and books that may catch your attention is also because they have your information in the data warehouse.
You can also find Big Data applications in many other sectors like banking, transportation, scientific research, crime prediction and prevention, weather forecasting, tax, etc.
Big Data can be put into practice in many ways, this explains why there is so much hype for it.
The crucial point of big data lies in how businesses collect and analyze data, not in how much data they have collected. These big data solutions bring valuable insights and help businesses to gain a heap of benefits.