Examples and Use Cases of Big Data
Writer : Mr. George Miguel
We've come a long way since the New York Times first coined the term "big data," and it's having a profound effect on our daily lives. Over 90% of businesses planned to use big data in 2018 despite privacy advocates' concerns about its potential dangers.
Big data is defined by the three Vs of volume, velocity, and variety, according to author and analyst Doug Laney. There's a lot of it, and it's coming at breakneck speed from a variety of directions. Regardless of industry, its impact is enormous.
Concepts such as "what customers want" that were once abstract have become concrete thanks to the proliferation of big data. A controversial data-first inversion of the scientific method has been facilitated by it. Non-technical employees can now contribute data and benefit from data-driven insights thanks to the "culture of analytics" that has emerged in many organizations.
EXAMPLES OF REAL-WORLD USE OF LARGE AMOUNTS OF DATA
- Understanding how people shop and what they buy
- Customized advertising
- Identifying potential customers
- Optimizing the use of gasoline in the transportation sector
- Ride-sharing service demand prediction
- Utilizing wearable technology to keep tabs on one's health
- Live road mapping for self-driving cars.
- stream media in a more efficient way
- Ordering based on forecasts
- Individualized treatment plans for patients with cancer
- Data monitoring and security protocols in real time
The most significant use of big data is for future planning, which is accomplished by predicting how people will live and what they will purchase in the future. Even so, it isn't a magic mirror. The predictive power of long data sets (also known as "long data"), which cover decades or centuries of data, is far greater than the predictive power of short data sets (which cover only a single year). Even the most reliable data has its limits when it comes to predicting cultural shifts like the rise of smartphones.
Big data, on the other hand, can ground and enhance human intuition when used properly.
When Do You Use Big Data as an Example?
Big data can be used to find patterns and trends that were previously unknown, which is especially useful for businesses seeking to better understand their users and customers. These insights can help companies find new avenues for innovation and gain a competitive advantage by offering products and services that aren't yet widely known.
Google is known for its use of big data. Google's search engine receives billions of search requests every day in addition to having access to user information via its Chrome browser and Gmail service. The company uses that data to train its algorithms, improving their ability to parse sentences, correct misspellings, and understand what a user is searching for.
In addition, Google uses search term data to provide users with search suggestion suggestions before they have finished typing, which is a convenient feature for the company's users.
Marketing Trends Can Be Discovered With the Help of Big Data.
Prior to the internet, marketers were able to target ads based on their TV and radio consumption, their responses to mail-in surveys, and their insights from unfocused one-on-one "depth" interviews based on limited data.
Marketing has progressed in lockstep with the growth of the internet and big data. To get an idea of what people are searching for, clicking on, and "liking," it's now possible to buy or collect massive amounts of data. More and more modern metrics, such as click-through and impression rates, are used to assess the efficacy of marketing campaigns. These metrics go far beyond simple sales figures.
In order to better understand and meet the needs of your customers, it's important to gather more information about them. Clients benefit from Centerfield's marketing and sales strategies because of the data it collects and analyzes about them. In order to find new customers who have similar characteristics to their current ones, the business can use this data.
Search engine optimization, social media marketing, mobile marketing, and video marketing are all combined at this digital marketing agency. Multi-touch attribution is used by the in-house Decision Sciences team to fine-tune the mix of marketing channels based on transaction data, consumer behavior, and more. With the help of large datasets, analysts can distinguish between effective and ineffective impressions on a micro level.
Amazon, like the "duopoly" of adtech giants Facebook and Google, got sucked into the advertising business by the wealth of customer data it possessed. A lot of data has been gathered since the company was founded in 1994. More and more companies, including marketing firms, have recently begun using Amazon's self-service ad portal to buy advertising campaigns and target them to extremely specific demographics, including past customers.
Using Big Data to Improve Transportation Efficiency
Maps for apps. To sum it up, smartphones have revolutionized navigation, with the vast majority of people now relying on them for guidance. That information comes from various sources, such as government agencies, satellite images, and other sources of big data.
Big data, on the other hand, has an impact on everything that moves, not just people. This includes packages, planes, and automobiles. There are tracking numbers (information!) on packages. Planes use data to improve fuel efficiency and predict maintenance issues, among other things. Autonomous driving may be closer than we think thanks to sensors and IoT connectivity in cars, which are collecting and transmitting so much data.
When it comes to predicting demand spikes and shifts in driver availability, Uber uses its data as a rideshare company. As a result of this data, Uber is able to properly price rides and offer incentives to drivers to ensure that there are enough vehicles to meet demand. Uber's estimated arrival times are also based on data analysis, which goes a long way toward ensuring customer satisfaction.
The HD Live Map, developed by the experts at HERE Technologies, provides self-driving cars with the detailed, location-specific information they require. In addition to showing where a car is in relation to its immediate surroundings, the map also shows where it is in relation to the lanes. The map is able to see around corners that the human eye can't because of intelligent sensors. There's also a constant flow of data from roaming fleets of vehicles, which helps the map warn drivers of nearby road closures.
How the Government and Big Data Companies Work Together
The U.S. government's relationship with technology is shaky at best. Its various agencies amass enormous amounts of information.. It's a concept that few embrace, especially at the local level. Most government agencies still operate on "rote bureaucratic procedures," according to Anthony Townsend, author of Smart Cities.
There can be ethical and legal issues for agencies that actually use the data they collect. Using "predictive policing" powered by big data, for example, police departments have been accused of violating privacy and relying on algorithms that are racially biased. Data-driven crime forecasting in Chicago has coincided with a decrease in gun violence, but questions remain about how the city can best utilize the information it collects.
When a 911 call comes in, the RapidSOS Clearinghouse provides the first responders with emergency-related data. Data from patients' smartphones and wearables can be retrieved in emergencies thanks to partnerships with Apple, Android and Uber. Using pre-existing call-taking and dispatching systems, Clearinghouse makes it easier for emergency medical personnel (EMTs) to access critical data, such as GPS location and real-time sensor data.
Using Big Data to Discover Business Intelligence.
The vast majority of companies collect far more data than they are able to analyze. A whopping 60-73% of it goes unused, according to one estimate.
The fact that many analytics tools only examine small randomized samples of massive data sets could be one of the causes. While this speeds up the search, it also leaves a wealth of information on the table. If you're dealing with other companies, it's all about finding out how much value there is in their vast amounts of data.
Salesforce, on the other hand, is all about bringing all of a company's data together in one place. In order to provide a holistic view of a business, their customer relationship management platform combines data from various departments like marketing, sales, and services. Automatic insights and predictions about metrics like sales and customer churn are provided by Einstein analytics on the platform. Instead of switching between multiple windows, users can connect Salesforce to external data management tools.
House of Cards, Netflix's first original TV show, was built around the concept of big data and its impact on politics. Customers who watched House of Cards were also likely to have seen Fincher and Spacey films, so Netflix invested $100 million in the first two seasons of the show, which premiered in 2013. With this combination, executives were correct in their forecasts.
When Netflix first started using big data eight years ago, it had no idea how much of an impact it would have. Everything from thumbnails on Netflix homepages to the content of the "Popular on Netflix" section appears to be influenced by viewing histories, including the points at which users pause in any given show.
Using Big Data to Create Personalized Medicine
It is estimated that the annual cost of health care in the United States is over $1 trillion. Doctor-patient relationships are rarely strong and lasting. Patients, on the other hand, find that they have a better connection with their gadgets.
As a result of this new reality, healthcare is undergoing a slow but steady transformation. With the Apple Watch's heart rate monitor and Alphabet's upcoming skin temperature monitor, medical diagnosis is moving from clinics to wearables. Devices like this one can collect long-term biometric data, unlike doctors, who can only collect this information during appointments.
However, despite the fact that personal healthcare devices have carved out a growing market, they will not be able to completely replace human doctors. Likewise, healthcare providers are making innovative use of medical data and taking action on it as well.
Boosting Cybersecurity with Big Data
Cyber attacks have risen in tandem with the rise of big data. A hacker can steal more data by exploiting different vulnerabilities as we store more data. Unfortunately, security lapses have become all too common. An estimated 156 million customer records were compromised in 2020 alone, more than double the number from the previous year, according to a report. The threat of cyberattacks has become so widespread that some companies are enlisting the help of their own in-house hackers to scour their systems for security holes and implement countermeasures. Big data analysis, on the other hand, can help companies identify security breaches by spotting anomalous activity.
A simple database structure is used by the company's Forensic Toolkit (FTK), which processes and indexes enterprise-scale data up front. An emergency situation necessitates the use of distributed processing across a large number of computers to speed up the search. All of FTK's hardware resources are put to work extracting evidence that clients can use in both civil and criminal court cases.
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- Examples And Use Cases Of Big Data