We are generating a massive amount of data every day. The traditional database management systems fail with such high volume, variety, and velocity of data being generated, and this is where big data technologies emerged to effectively store, process, and analyze data. Today, companies are using big data analytics to transform raw data into valuable insights and make more informed business decisions that can drive their success. Other technologies like artificial intelligence, cloud computing, and the Internet of Things (IoT) have made it easier to acquire and process large amounts of data, thus making big data a crucial aspect of various business verticals.
Today, big data skills are in high demand for various data-related roles. Given the higher salaries offered, growing demand, and dominance in the future, many professionals are identifying ways to upgrade their big data skills and start a promising career in this domain. Before getting started, people often look for top Big data applications in different industries. When you know how Big data is applicable in various fields, you will have clarity on which domain your skills align with.
Read this article to become familiar with the top big data applications in different industries.
Top Big Data Applications
Discussed below are the applications of big data technologies in some of the popular industries.
Big data in healthcare
Healthcare encompasses many areas where big data can be applied to obtain impressive outcomes. For example, it can identify trends and correlations in large amounts of patient data, like medical records, imaging, genetics information, and claims data. Hospitals and healthcare organizations can then better understand patient needs, predict and prevent disease, and make more informed decisions about possible treatment. Big data technologies can be quite helpful in medical research as well.
Big data in e-commerce
Big data has changed the marketing game for e-commerce companies. By utilizing the potential of big data, companies are able to identify and target their most valuable customers and measure the success of their campaigns. By looking into inventory, big data can help understand product demand and optimize inventory levels. Customer behavior and preferences can also be analyzed so that companies can offer personalized recommendations to each customer, thereby increasing their engagement and loyalty.
Big data in finance
The two areas of finance where big data can prove to be quite beneficial are risk mitigation and fraud detection. By analyzing large amounts of financial data, banks can identify potential risks and develop strategies to mitigate them. Such risks may not be noticeable when going through the data manually. On the other hand, big data tends to improve the overall security of financial transactions by detecting and preventing fraudulent activities in real-time. Even when it comes to compliance, big data can assist financial institutions in complying with regulations by offering a comprehensive view of all financial transactions.
Big data in human resource management
The hiring process is one of the major aspects of HRM that can be impacted by big data. Using the technology, HR teams can identify top talent and predict candidate performance, thereby streamlining the hiring process. HR professionals can also assess employee performance by using big data and identify areas for improvement. They can also analyze compensation and benefits data and make informed decisions about pay and benefits packages. Moreover, workforce planning can also be enhanced through the use of big data; HR teams can better plan their future workforce needs and make better decisions about staffing and training.
Big data in aviation
The major area of concern for airlines is the high fuel cost. If they can optimize the usage of fuel in flights, then they can save millions of dollars. Well, big data is proving to be an effective way to design better fuel management strategies along with other departments like maintenance, commercial, and customer loyalty so as to make more holistic and cost-effective decisions. For example, a company called OpenAirlines has launched a big data analysis software named SkyBreathe 360 that offers real-time feedback for pilots, advanced trajectory calculations, aircraft performance monitoring, and on-time performance analysis.
Big data in information technology
Big data is a key enabler for innovation and growth in the IT industry, helping IT teams make data-driven decisions and drive business outcomes. It can be used to monitor network performance and detect potential security threats, thereby improving network uptime and security. Another area where big data is being utilized is the customer support – IT teams are analyzing customer feedback to identify potential issues and improve the quality of customer service. Alongside machine learning, big data is also being used to predict and prevent equipment failures which can then reduce downtime and maintenance costs.
These were just some of the major applications of big data in different industries. Big data applications keep on evolving, and in the future, you will witness more fascinating applications of this technology. This means you can now learn big data and establish your career in any industry you want. Even if you are from a non-technical background, you can enroll in a reputed big data course online and gain relevant skills.
