Big Data has totally changed and revolutionized the way businesses and organizations work. In this section, we will go deep into the major Big Data applications in various sectors and industries and learn how these sectors are being benefitted by these applications.
In this era where every aspect of our day-to-day life is gadget oriented, there is a huge volume of data that has been emanating from various digital sources.
Needless to say, we have faced a lot of challenges in the analysis and study of such a huge volume of data with the traditional data processing tools. To overcome these challenges, some big data solutions were introduced such as Hadoop. These big data tools really helped realize the applications of big data.
More and more organizations, both big and small, are leveraging from the benefits provided by big data applications. Businesses find that these benefits can help them grow fast. There are lots of opportunity coming in this area, want to become master in Big Data check out this Big Data Hadoop Training?
Education industry is flooding with huge amounts of data related to students, faculty, courses, results, and what not. Now, we have realized that proper study and analysis of this data can provide insights which can be used to improve the operational effectiveness and working of educational institutes.
Following are some of the fields in the education industry that have been transformed by big data-motivated changes:
- Customized and Dynamic Learning Programs
Customized programs and schemes to benefit individual students can be created using the data collected on the bases of each student’s learning history. This improves the overall student results.
- Reframing Course Material
Reframing the course material according to the data that is collected on the basis of what a student learns and to what extent by real-time monitoring of the components of a course is beneficial for the students.
- Grading Systems
New advancements in grading systems have been introduced as a result of a proper analysis of student data.
- Career Prediction
Appropriate analysis and study of every student’s records will help understand each student’s progress, strengths, weaknesses, interests, and more. It would also help in determining which career would be the most suitable for the student in future.
The applications of big data have provided a solution to one of the biggest pitfalls in the education system, that is, the one-size-fits-all fashion of academic set-up, by contributing in e-learning solutions.
The University of Alabama has more than 38,000 students and an ocean of data. In the past when there were no real solutions to analyze that much of data, some of them seemed useless. Now, administrators are able to use analytics and data visualizations for this data to draw out patterns of students revolutionizing the university’s operations, recruitment, and retention efforts.
Healthcare is yet another industry which is bound to generate a huge amount of data. Following are some of the ways in which big data has contributed to healthcare:
- Big data reduces costs of treatment since there is less chances of having to perform unnecessary diagnosis.
- It helps in predicting outbreaks of epidemics and also in deciding what preventive measures could be taken to minimize the effects of the same.
- It helps avoid preventable diseases by detecting them in early stages. It prevents them from getting any worse which in turn makes their treatment easy and effective.
- Patients can be provided with evidence-based medicine which is identified and prescribed after doing research on past medical results.
Wearable devices and sensors have been introduced in the healthcare industry which can provide real-time feed to the electronic health record of a patient. One such technology is from Apple.
Apple has come up with Apple HealthKit, CareKit, and ResearchKit. The main goal is to empower the iPhone users to store and access their real-time health records on their phones.
Governments, be it of any country, come face to face with a very huge amount of data on almost daily basis. The reason for this is, they have to keep track of various records and databases regarding their citizens, their growth, energy resources, geographical surveys, and many more. All this data contributes to big data. The proper study and analysis of this data, hence, helps governments in endless ways. Few of them are as follows:
- In making faster and informed decisions regarding various political programs
- To identify areas that are in immediate need of attention
- To stay up to date in the field of agriculture by keeping track of all existing land and livestock.
- To overcome national challenges such as unemployment, terrorism, energy resources exploration, and much more.
- Big Data is hugely used for deceit recognition.
- It is also used in catching tax evaders.
Food and Drug Administration (FDA) which runs under the jurisdiction of the Federal Government of USA leverages from the analysis of big data to discover patters and associations in order to identify and examine the expected or unexpected occurrences of food-based infections.
With people having access to various digital gadgets, generation of large amount of data is inevitable and this is the main cause of the rise in big data in media and entertainment industry.
Other than this, social media platforms are another way in which huge amount of data is being generated. Although, businesses in the media and entertainment industry have realized the importance of this data, and they have been able to benefit from it for their growth.
Some of the benefits extracted from big data in the media and entertainment industry are given below:
- Predicting the interests of audiences
- Optimized or on-demand scheduling of media streams in digital media distribution platforms
- Getting insights from customer reviews
- Effective targeting of the advertisements
Spotify, an on-demand music providing platform, uses Big Data Analytics, collects data from all its users around the globe, and then uses the analyzed data to give informed music recommendations and suggestions to every individual user.
Amazon Prime that offers, videos, music, and Kindle books in a one-stop shop is also big on using big data.
There are weather sensors and satellites deployed all around the globe. A huge amount of data is collected from them, and then this data is used to monitor the weather and environmental conditions.
All of the data collected from these sensors and satellites contribute to big data and can be used in different ways such as:
- In weather forecasting
- To study global warming
- In understanding the patterns of natural disasters
- To make necessary preparations in the case of crises
- To predict the availability of usable water around the world
IBM Deep Thunder, which is a research project by IBM, provides weather forecasting through high-performance computing of big data. IBM is also assisting Tokyo with the improved weather forecasting for natural disasters or predicting the probability of damaged power lines.
Since the rise of big data, it has been used in various ways to make transportation more efficient and easy. Following are some of the areas where big data contributes to transportation.
- Route planning: Big data can be used to understand and estimate users’ needs on different routes and on multiple modes of transportation and then utilize route planning to reduce their wait time.
- Congestion management and traffic control: Using big data, real-time estimation of congestion and traffic patterns is now possible. For examples, people are using Google Maps to locate the least traffic-prone routes.
- Safety level of traffic: Using the real-time processing of big data and predictive analysis to identify accident-prone areas can help reduce accidents and increase the safety level of traffic.
Let’s take Uber as an example here. Uber generates and uses a huge amount of data regarding drivers, their vehicles, locations, every trip from every vehicle, etc. All this data is analyzed and then used to predict supply, demand, location of drivers, and fares that will be set for every trip.
And guess what? We too make use of this application when we choose a route to save fuel and time, based on our knowledge of having taken that particular route sometime in the past. In this case, we analyzed and made use of the data that we had previously acquired on account of our experience, and then we used it to make a smart decision. It’s pretty cool that big data has played parts not only in big fields but also in our smallest day-to-day life decisions too.
The amount of data in the banking sector is skyrocketing every second. According to GDC prognosis, this data is estimated to grow 700 percent by the end of the next year. Proper study and analysis of this data can help detect any and all illegal activities that are being carried out such as:
- Misuse of credit/debit cards
- Venture credit hazard treatment
- Business clarity
- Customer statistics alteration
- Money laundering
- Risk mitigation
Various anti-money laundering software such as SAS AML use Data Analytics in Banking for the purpose of detecting suspicious transactions and analyzing customer data. Bank of America has been a SAS AML customer for more than 25 years.
Till the involvement of big data in real estate, real estate had been using the same boring and outdated ways of networking. Not only real-estate, even other businesses carried on with old terms for accessing their transactions. But today the real estate industry is also welcoming big data. Like the retail market, banking sectors and health services who have been using big data to make advancements in their services and who have been using big data in solving their internal problems, in the same way, real estate have also started to use it for its own advancements. Still, real estate agents question whether big data can really offer better facilities than the intellectuals who knows the in and outs of property sales. But by analyzing all the records of big data in education, health, technology and other services, and by viewing certain examples we have come to a conclusion that application of big data can really change the real-estate game.
Here are few of the ways how big data can bring a change in the real estate industry:
- Developing a Great Residential Society
- Providing the Real Estate Buyers with Standard Information
- Even Those Smart Property Agents Cannot Fool You Anymore
- Property Dealers cannot make Fool of the Investors Anymore
- Help Real Estate Developers to Satisfy every Need of the Customer
- Making Construction Administration Better
Developing a Great Residential Society
Not only with the essential information, but Big data is also helping real estate with newer and interesting techniques in planning a strategy for society building. In order to make a residential society, a proper planning has to be done. In this part, big data is helping a lot, by doing research and letting property developers know about the quality of the environment, a balanced atmosphere, and much more which is a must for the construction of a residential society. So the big data analytics provide the real estate builders with information regarding health care and energy competence needed for a proper construction development. Data even plays a big role in the engineering concepts, with the help of which, the civil engineers get better information to engineer those buildings with stronger basements and dig ups.
Providing the Real Estate Sellers and Buyers with Standard Information
Today using big data, companies are able to build the perfect performance insights of businesses. Without the involvement of big data technologies, real estate businesses used to make use of unprocessed data which never really gave them completely accurate results. The application of big data has turned real estate into a completely clear business and along with such transparency, business analytics also gave them a new turn. The processing of the unprocessed data and other relations are advanced by using the big data analytics. Managing of the information extracted from the outputs of censuses, the consequences of consumer appraisals, catalogues of homes for sale and lease, data of the geographic information systems etc are all done by Big data analytics today. The big data analytic tools study about the patterns customers use while buying properties, and these data helps in improving the real estate sales and also helps them appreciate home-value fashions within a scrupulous environment. From the information generated by big data about the real estates, people come to know easily about the different buildings and houses available for rent as well as for sale within a place.
You do not have to worry about paying those huge bulks of money hiring a broker to find out any property in your neighbourhood. All that you have to do is to check the websites which tell us about real estate houses and properties for rent, lease and also for sales. Big data has made all the information about all the sales in every corner of a region available on the internet. Even if you hire a real estate agent, you can always confirm with the prices by comparing it with similar properties on the internet. A quick survey in the World Wide Web will allow you to come to a better conclusion protecting you from the huge loss you might have gone through. A real- estate agent holds the complete knowledge of all the buyer incentives, exclusive offers going on in the market and all other insights. Hiring a good real estate agent is really helpful but do not forget to make use of a little of the internet to have a cross check of what the agent is taking you through.
Property Dealers cannot make Fool of the Investors Anymore
With the help of information gained due to big data analytics, today even the investment sectors including the banks can find out whether the exclusive offers given by the real-estate businesses are really worthy. Today due to the transparency of real estates, which is because of the business insights big data provides to its users, people are too aware of which properties they should buy and which they should not. Even big data has given the banking sectors full rights to view the real estate insights, as a result of which, before investing any money, the investing sectors make sure that every rupee is worthy for that particular property.
Help Real Estate Developers to Satisfy every Need of the Customers
As big data helps customers in experiencing safe buying of the products, in the same way, it gives a complete idea of the search procedures customers follow while finding the properties. Taking the help of those search patterns of the customers, big data helps the real estate developers to promote their businesses the way the customer wants to see. The information from different sources allows the real estate developers to have a deeper understanding of what customers want and accordingly they can implement those requirements in developing their properties so as to satisfy the customer demands.
Making Construction Administration Better
Big data has been forwarding its helping hand towards construction management also. As a result of which the real estate developers are able to keep track of all the projects related to construction. With the help of sensors and cameras, every moment in the construction place can be tracked resulting in secured businesses. The application of smart devices in the real estate projects seems to be a bit costly, but the results it gives seems to be worthy for such payments.
No wonder, there is so much hype for big data, given all of its applications. The importance of big data lies in how an organization is using the collected data and not in how much data they have been able to collect. There are Big Data solutions that make the analysis of big data easy and efficient. These Big Data solutions are used to gain benefits from the heaping amounts of data in almost all industry verticals.