Data as the literal meaning says is any piece of useful information. Big Data refers to enormous amount of structured or unstructured data related to latest trends, patterns and association which can be analyzed by companies for business gains. Big Data has the potential for companies to improve their operations for faster, increasing decisions.
The reasons for companies to incline towards adopting big data are Time, Better Analytics, Vast amount of data, Insights, Decision-making. There are several benefits of Big Data like Gain instant appreciation from different data sources, Upgrade business performance through real-time analytics, big data technologies manage huge amounts of data, Can provide better appreciation with the help of useful and partially useful data and minimize the chances of risk level and make right decision by proper risk analysis. Due to the various benefits of big data, the big data applications have emerged and they help to play important roles in different fields.
Big Data Applications
The goal of Big Data applications is to make companies take informative business decisions by referring to large amounts of data. The data is varied and can come from anywhere; it could include Social Media content, Web Server logs, Internet stream data, Text from Customer emails and Mobile Phone call details. Big Data Applications are playing an important role in various fields are Healthcare, Media and Entertainment, Manufacturing, Education, Banking and Transportation.
Big Data Application in Healthcare
The Big Data is extremely useful in the field of medical and healthcare. Due to the advanced technology, the expense of healthcare has increased this is where Big Data comes handy. Doctors are able to keep track about patient’s history, the link to which is only accessed by the patient and his particular physician.
The data of the patient is stored in the database safe and secure and as and when required by the doctor it can be viewed. Most of the medical devices are big data oriented. The use of data has gone to such an extent that doctors can check the person through the heart and temperature monitoring watch fitted on the patient’s hand and prescribe him with the following medicines.
Big Data Application in Media and Entertainment
New business models are launched for different companies in the media and entertainment industry. The business model runs on collecting or creating the content, further to analyze it, then marketing and distribution of the content. As the rate of consumer’s search increases, there is a need for obtaining content at any moment, in whatever place in all formats on a variety of devices. Big data runs through customer’s data along with observable data and gather even minute information to create a customer’s detailed profile. The benefits of big data in media and entertainment industry include forecasting what the target audience wants, planning optimization, expanding acquisition and retention; suggest content on demand and new product development.
Big Data in Manufacturing
The demand of natural resources like oil, minerals, petroleum, metal ores and agricultural products has increased, which has led to an increase in the mass, proportion, velocity and complexity that is an issue to handle. In the natural resources industry, big data helps predictive modeling to sustain decision making and has been employed to consume and combine graphical, text and temporal data. The benefits of Big Data applications in manufacturing are Quality of the product, Supply scheduling, Tracking defect in Manufacturing process, Predicting output, Expanding Energy Efficiency, Testing of new manufacturing processes, developing new manufacturing process. Big Data has successfully solved today’s manufacturing issues and hopefully in the future as well.
Big Data in Education
The impact of Big Data in the education world is immense. Today, internet makes it easier and efficient and can be available almost anywhere, anytime all around the world. Hence, online learning is available for every possible course. There are many examples of the Big Data Usage in the education industry. Various Applications are built to help teachers and students in almost all formats through mobile devices. Practically staff and institutions have to adapt to the new data management and analysis tools. Adaptive learning produces big-data-fuelled projection analysis to discover what a student is learning. Some problems may occur in the digital system of learning like duplicity and so on, which Big Data controls it and provides significant changes. Privacy and Personal data protection related to big data needs some attention.
Big Data in Transportation
In latest times, enormous amounts of data from location-oriented social networks and high speed data from telecoms have influenced travel journeys. The big data applications in transportation industry are included by governments, private and personal sector. Government use big data in traffic handling, direction planning, well organized transportation systems and forecasting traffic conditions. Private sector use big data in income management, industrial enhancements, logistics and affordable benefits. Personal use of big data includes planning directions to retain fuel and time while travelling.
Big Data in Banking
Banking is a very crucial sector. The security, privacy, management and maintenance of any banking system is a challenge. Big Data is very beneficial and helps in the fraud detection in banking system. As Big Data is implemented, it searches all the illegal activities that has taken place. It identifies the misuse of credit and debit cards, business precision, customer statistics modification, public analytics for business.
Big Data Applications are helpful and handy in almost every field. It provides detailed information about the respective field. It helps the industries to create new growth opportunities. It also understands and optimizes business procedures. Big Data Applications are have been very useful in recent times and optimistically in future as well.