Over the past decade, the use of Big Data has grown to the point where it can touches nearly every aspect of consumers’ normal lifestyles and shopping habits. But not many people realize the importance as well as the applications that Big Data brings up to now. In this article, let’s take a look at the Top 10 Big Data applications in real life!
I. The importance of Big Data
The term Big Data only gained popularity in the early 2000s, even though companies have been collecting huge amounts of data for decades.
The importance of big data is not in the amount of data a company has, but in how the company uses it. Big data analytics enables businesses in different industries to effectively solve the problems they face in their business operations. Some of the prominent benefits include:
- Save time
- Save cost
- Understand the market situation
- Product development
- Attract customers
Overall, big data plays an important role in our lives. It has increased efficiency and productivity in almost all areas.
Big Data plays an important role because it brings many benefits – Image: techvidvan.com
II. Top Big Data applications brings in practice today
1. Big Data in Advertising and Marketing
Today, advertisers buy or collect huge amounts of data to determine what consumers are actually searching for and accessing. Marketing campaigns are also tracked and their effectiveness measured using click-through rates, views, likes, and other precise metrics.
For example, Amazon accumulates big data on the purchases, shipping methods, and payment options of millions of customers. The company then places ads tailored to customer needs in highly targeted placements to specific customer segments.
2. Big Data in Media and Entertainment
The entertainment industry harnesses big data to glean insights from customer reviews, predicting audience interest. From there, create content for different target audiences, measure content performance, and more.
For example, Spotify uses Hadoop big data technology to collect data from millions of global users. Then use the analyzed data to make personalized music recommendations.
3. Big Data in Healthcare
This technology has changed the field of healthcare from: reducing treatment costs, predicting disease outbreaks, adopting electronic health records, reducing fraud and errors, etc.
For example, Mayo Clinic is a platform that includes big data analytics to help identify patients with different diseases and give them more comprehensive control over their health.
Big data analysis helps provide insights into patient records – Image: svitla.com
4. Big Data in Education
The education industry is using big data to help improve curricula, better attract talent, and optimize the student experience.
Through analysis and study of student records. Schools can better understand the progress, strengths, and weaknesses of each student. Data collected based on each student’s academic history can be used to develop appropriate programs and instructional plans.
For example, National Economics University – Vietnam has implemented a Learning and Management System to track the time students spend using pages in the system and aggregate student learning outcomes.
5. Big Data in Government
Government agencies collect huge amounts of data about the nation’s citizens, growth, geographical surveys, energy resources. The use of big data has many applications, including fraud detection, financial market analysis, environmental protection, and more.
Example: With a chip-based Citizen ID, the Government can effectively manage and use information of people across the country.
6. Big Data in Manufacturing
Big data helps improve manufacturing, personalize product design, ensure quality retention, monitor supply chains, and track potential risks.
For example, Rolls Royce used big data analytics to make manufacturing processes easier by correcting errors that occurred during the design process.
Big Data helps production become more efficient – Image: www.way2smile.ae
7. Big Data in Finance – Banking
Financial institutions analyze big data from website usage and transactions to better understand how to convert leads into customers. Encourage them to use more different financial products.
In particular, big data analysis helps to detect all the illegal activities being carried out. Such as fraudulent transactions, money laundering, etc.
For example, Bank of America has been a customer of SAS and AML for over 25 years. SAS, AML are anti-money laundering software that uses data analysis in the bank to detect suspicious transactions and analyze customer data.
8. Big Data in Retail
Big data brings many applications in the retail industry. It plays an important role in: predicting emerging trends, targeting the right customers, reducing marketing costs, improving customer service and analyzing inventory in a timely manner, etc.
For example, Walmart is one of the retail companies that uses big data to determine the busiest times in their stores, while optimizing employee schedules to accommodate customers. In addition, they use customer data to create a personalized shopping experience and best anticipate customer needs.
9. Big Data in Agriculture
In the Agriculture sector, big data analytics helps to drive smart farming, save costs and open up new business possibilities. It provides farmers with information on changes in weather, factors affecting crop yield, promoting the correct application of pesticides, and more.
For example: Thanks to technology and Big Data, automatic devices such as farm robots, solar water pumps,… were born. In particular, drones can update data and monitor crop growth.
Big data brings many useful applications for agriculture – Image: fugenx.ae
10. Big Data in Transportation
Big data is used for real-time estimation of traffic congestion, user demand on different routes, identification of accident prone areas, etc.
Example: Thanks to big data analytics, Google Maps can now locate the route with the least amount of traffic.
Conclusion
Above are the top outstanding Big Data applications. Of course, not only the above useful applications, big data also crept into other industries such as e-commerce, telecommunications, tourism, etc.
Hopefully this article can give you a clear view of the different applications of big data in different industries, as well as its importance in today’s world.
