Introduction
Big data beginnings
New big data approaches
Big data challenges
Data lakes
Data platforms
AI and ML
Business Use Cases
Conclusion
Business use cases
–
There are hundreds of ways big data can give businesses a competitive advantage. Here, we’ll
explore just a few examples of how industries have used big data to go beyond measuring and
counting to being able to predict and understand.
Financial services
Whether it’s
capturing new market
opportunities or reducing fraud,
financial services organizations have
converted big data into a competitive
advantage. With big data, financial
institutions can
•
Identify
patterns that
indicate fraud and streamline
regulatory reporting
•
Gain a better understanding of
market trends and customer
needs, which can improve
decision-making about new
products
and services
•
Detect potential fraud patterns
and adhere to regulations
Healthcare
Hospitals, healthcare companies,
and researchers produce massive
amounts of data. With big data,
healthcare
professionals can
•
Identify disease genes and
biomarkers to help patients
pinpoint health issues they
may face in the future
•
Provide better treatment and
improve
the quality of care
without increasing costs
•
Detect potential insurance
fraud by flagging certain
behaviors for further
examination
Manufacturing
The digital revolution has
empowered
manufacturers to
find ways to harness all the data
they generate. With big data,
manufacturers can
•
Predict equipment failures
•
Assess production processes,
proactively respond to customer
feedback, and anticipate
future
demands
•
Better understand the flow of
production lines and determine
the cause of delays
Retail
Big data is used across all stages
of the retail process. With big data,
retailers can
•
Predict
customer demand and
launch new products
•
Identify a company’s most loyal
customers and target them with
special offers
•
Use predictive technology to
keep
shelves stocked and avoid
supply chain disruptions
