Nine Areas for Enterprises to Implement Big Data Analytics Applications

With the application of big data becoming more and more widespread, and the industries in which it is applied becoming lower and lower, we can see every day some novel applications of big data, which can help people to get the really useful value from it. Many organizations or individuals are affected by the analysis of big data, but how does big data help people dig out valuable information? Let's take a look at nine very high-value applications of big data that are key areas of big data in analytics applications:

1. Understanding Customers and Meeting Customer Service Needs

The application of big data is currently the most widely recognized in this area. The focus is on how to apply big data to better understand customers and their preferences and behaviors. Businesses are very much into collecting data on social aspects, browser logs, analyzing out text and sensor data, in order to have a more comprehensive understanding of their customers. In general, data models are built out to make predictions. For example, Target, a famous retailer in the United States, analyzes big data to get valuable information and accurately predict when customers want to have children. In addition, through the application of big data, telecom companies can better predict the loss of customers, Walmart can more accurately predict which products will be sold, the automobile insurance industry will understand the needs of customers and driving levels, and the government can also understand the preferences of voters.

2. Business process optimization

Big data is also helping more with business process optimization. Valuable data can be mined through the use of social media data, web searches, and weather forecasts, with the most widespread application of big data being the optimization of supply chains and delivery routes. In these 2 areas, geo-location and radio frequency identification track goods and delivery trucks, and real-time traffic route data is used to develop more optimized routes. HR operations are also being improved through big data analytics, which includes talent acquisition optimization.

3. Big data is improving our lives

Big data is not just for business and government, but for everyone in our lives. We can generate up-to-the-minute data from the devices we wear, such as smartwatches or smart bracelets, which allow us to track our calorie consumption and sleep patterns. And there is also the use of big data analytics to find our love, most of the time dating sites are big data application tools to help match the right person with the right person.

4. Improving healthcare and research and development

The computational power of big data analytics applications allows us to decode the entire DNA in a matter of minutes, and allows us to develop the latest treatment plans. It also allows for better understanding and prediction of diseases. Just like the data that can be generated by people wearing smart watches and the like, big data can also help patients to get better treatment for their conditions. Big data technology is already being used in hospitals to monitor premature and sick babies, and by recording and analyzing a baby's heartbeat, doctors can make predictions about how the baby might be feeling. This helps doctors to better assist babies.

5. Improving sports performance

Many athletes are now using big data analytics in their training. For example, for example, the IBM?SlamTracker tool for tennis noses, we use video analytics to track the performance of each player in a soccer or baseball game, and sensor technology in sports equipment (such as basketball or golf clubs) allows us to get data on the game and how to improve. Many elite sports teams also track the activities of their athletes outside of the playing environment - through the use of smart technology to track their nutritional status as well as their sleep, and social conversations to monitor their emotional state.

6. Optimizing machine and equipment performance

Big data analytics can also allow for smarter and more autonomous applications of machines and equipment. For example, big data tools were once utilized by Google to develop the Google Self-Driving Car. Toyota's Prius is equipped with cameras, GPS, and sensors to drive safely in traffic without the need for human dare. Big data tools can also be applied to optimize smart phones.

7. Improving Security and Law Enforcement

Big data is now widely used in the process of security enforcement. I'm sure you all know that the U.S. Security Agency uses big data to conduct terrorism crackdowns and even monitor people's daily lives. And enterprises apply big data technology to defend against cyberattacks. Police are using big data tools to catch criminals, and credit card companies are using big data tools to thresh out fraudulent transactions.

8. Improving our cities

Big data is also being applied to improve the cities where we live our daily lives. For example, based on real-time city traffic information, using social networks and weather data to optimize the latest traffic conditions. Many cities are currently analyzing and piloting big data.

9. Financial Transactions

Big data in the financial industry is mainly applied to financial transactions. High Frequency Trading (HFT) is an area where big data is applied more. In which big data algorithms are applied to trading decisions. A lot of equity is now traded using big data algorithms which are now increasingly taking into account social media and website news to decide whether to buy or sell in the next few seconds.

The nine above are the nine areas where big data is most used, but of course there are many new areas of application for big data and new applications of big data as it becomes more popular.

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