What are uses and need of big data?

The amount of data available to the company to grow rapidly so the big data come into the picture. Big Data allows for the analysis of this huge amount of data to bring out insights that were incomprehensible. The uses of Big Data in many fields to increase their performance. What we have imagined is yet to be achieved but we are definitely moving forward. Here, we have summarized a point on uses of Big Data that can be incorporated in every industry. You can also check the advantages and disadvantages of Big Data to know more about it.

Uses and need of Big Data:

  • Location Tracking

Over quite some time, Logistics firms used location analytics to track and monitor orders. With Big Data in the picture, it is possible to track the condition of goods in transit and estimate the losses. It is now possible to collect real-time traffic and weather data, to identify the transportation routes. This will help logistic firms to mitigate risks in transport, reliability in delivery and improve speed.

  • Precision Medicine¬†

Hospitals can improve the level of patient care they provide with Big Data. Intensive care patients can be monitored 24×7 without requiring direct supervision. In addition to that, the efficiency of medication can be improved by analyzing the past records and history of the patients and the medicines they are given. The need for guesswork can be significantly reduced.

  • Fraud Detection and Handling

The banking and finance sector uses Big Data to predict and prevent cybercrimes, detecting card fraud, achieving audit trails. Through studying their customers and the past data and details on recent brute force attacks banks can anticipate potential attempts. Not only Big Data help to predict cybercrimes but also helps to tackle issues related to failed transactions in net banking. It can even predict server spikes so that banks can handle transactions accordingly.

  • Advertising

Advertisers are one of the biggest players in the field of Big Data. Whether its Facebook, Google, Twitter or any online giant, all keep track of user behaviour and transactions. These giants provide advertisers with a lot of information about people so that they can run targeted campaigns. For example Facebook, here you can target people based on buying intent, website visits, interests, job role, and whatnot. All this data collected by Facebook algorithms using Big Data analysis techniques. The same for Google too. All this is made possible due to Big Data.

  • Entertainment and Media

Big Data is focused on targeting people with the right content at the right time in the entertainment and media industry. You will given various suggestions based on your past views and online behaviour. Netflix and YouTube are making common use of this strategy to improve interaction and drive more sales. Even television broadcasters ate looking to segment the database of their viewers and show different advertisements and shows accordingly. This will lead to better revenue from ads and will provide a more engaging user experience.

 

Explore more information: 

  1. Advantages and disadvantages of Big Data
  2. What are the characteristics of Big Data?
  3. Benefits of using Big Data in the manufacturing industry
  4. What are the advantages of Big Data in accounting?
  5. What are the risks and challenges of Big Data?
  6. Challenges of Big Data in healthcare

1 comment on What are uses and need of big data?

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