Big Data applications have permeated into all fields of modern life, making it the game-changer in finding value for the use of data collected. According to a Yahoo report (Research and Market reports), the Big Data market globally was USD 32 billion in 2017 and expected to be USD 156 billion by 2026! This surge is because Big Data uses range from better customer experience, better-targeted marketing, cost reduction, efficient processes and better decisions. Hence, organisations are racing to find the best skills, funding and personalised applications using such data in a bid to stay ahead of the competitors. Let us then look at the top 10 Big Data IoT applications.
- Education: Varying data and varying data integration sources, privacy policies and data protection are challenges in how to use Big Data. Some valuable list of Big Data applications is the Australian University of Tasmania’s Student Management and Learning System, market applications with what is the use of Big Data to measure the teacher’s interactions and effectiveness, the U. S. Department of Education’s application for its Office of Educational Technology and provider Big Data applications like Naviance’s MyFit and Knewton and Carnegie Learning.
- Entertainment, Communications and Media: The challenges here are the use of a variety of devices, formats, consumers expectations of on-demand rich media, leveraging of content from varied sources, real-time media content usage analytics, analytics involving insights provided by consumers etc. Some of the applications leading in what is Big Data used for are YouTube videos, on-demand services of Spotify, Amazon Prime’s content delivery of music, videos, e-books etc. using OTT applications of Big Data and provider technologies used in Big Data like Infochimps, Visible Measures, Splunk and Pervasive Software.
- Banking and Securities: The Big Data application examples of challenges in this industry are an early warning of securities fraud, detection of card frauds, tick analytics, audit trails archiving, reporting of credit risks, the transformation of the customer- data, trade visibility, IT policy compliance procedures, trading and IT operation analytics etc.
Some examples where Big Data is used are financial market applications by retail traders, hedge funds, large banks, trade analytics of financial markets, support, pre-trade and predictive analysis etc., SEC (Securities Exchange Commission) application to monitor the markets, applications involving risk analytics, enterprise risk management, money laundering prevention, KYC-Know Your Customer, mitigation of frauds etc. and provider Big Data applications like Panopticon Software, 1010data, Streambase Systems, Quartet FS, Nice Actimize, etc.
- Healthcare: This industry has very large amounts of Big Data that is yet to be exploited fully due to the rising costs of healthcare, non-involvement of patients, etc. Some innovative Big Data application examples are Beth Israel Hospital using a cell phone app for evidence-based telemedicine, the University of Florida’s applications of Big Data in healthcare using Google Maps and free health data providing visual data in emergencies and prompt healthcare to curb the spread of chronic diseases, Obamacare and provider Big Data applications like Cerner, Recombinant Data, Explorys, Humedica, etc.
Natural Resource Mapping and Manufacturing applications: Delloite, a provider of Big Data applications like Aspen Technology, CSC, Pentaho, Invensys, etc., use Big Data and provide opportunities for better utilisation of the high-velocity, complex and volumetric data. Some areas for the use of Big Data analytics are reservoir characterisation, seismic analysis and more.
- Insurance: Applications here focus on customer analytics, retention, real-time claim settlements, online product delivery and better deliveries of simpler products. Industry examples of Big Data applications include provider Big Data applications of Big Data like The Climate Corp, Qualcomm, Sprint, Octo Telematics, etc.
- Governments: Large applications like SSA (Social Security Administration), delivery of public services, energy exploration, environmental protection, FDA’s application, provider Big Data applications of Socrata, Digital Reasoning, HP etc. are great what is Big Data with examples use of Big Data in this vertical where inter-operability and integration issues dog progress.
- Wholesale and retail trade: Application of Big Data in marketing focus on POS, customer loyalty data, inventory management, analysis of local and demographical data, eCommerce applications, social media integration etc. Applications are being developed by Cisco, IBM, Microsoft etc., using provider Big Data applications like First Insight, First Retail, Fujitsu, Epicor, Vistex, Infor, etc.
- Utilities and Energy: Applications of Big Data analysis are aplenty that use granular data for customer service, analytics of energy delivery and analysis of patterns of usage, analytics for control of utilities etc.
- Transportation: Big Data examples in real life are government applications for traffic control, route planning, logistical applications of private entities, data provider applications like Manhattan Associates or Qualcomm, and individual use of fuel and time-saving map apps are a great example of Big Data in this vertical.
In conclusion, Big Data is a real game-changer with Big Data analytics examples, big spends, Big Data applications and hiring capabilities. It is worth the effort of familiarising oneself with Big Data analytics applications, the specific challenges faced by the industries, uses of Big Data and its data characteristics, keeping abreast of market solutions. Big Data use cases emerging and gaining expertise in a specific vertical to exploit the best career opportunities in Big Data applications.
Big data analysts are at the vanguard of the journey towards an ever more data-centric world. Being powerful intellectual resources, companies are going the extra mile to hire and retain them. You too can come on board, and take this journey with our Big Data Specialization course.