TOP 5 BIG DATA APPLICATION
What is Big Data?
In layman’s terms, Big data describes A large volume of structured as well as unstructured data is described by big data that engulfs a business on a daily basis. It is mainly defined by the idea of three Vs — volume, velocity, and variety. There’re various applications of big data. Let’s discuss them in brief.
Applications of Big Data
- In Banking
Be it in the case of cash collection or financial management, application of big data has been making banks more effective for each industry, be it in the cash management or financial management. The Struggle of the customers has been reduced by the application of today’s technology which is generating the bank more revenue and making their ultimate insights more clear and comprehensible. Big Data offers a range of applications, be it the identification of fraud, simplifying and streamlining transaction processing, enhancing understanding of customers, optimizing trade execution and facilitating an advanced customer experience.
2. In Education
The gathered data from the students, faculty, courses, and results is humongous, when it comes to the education industry. Its analysis can generate insights effective for improving the operations and working of educational institutes. Big Data plays an integral role in enhancing effective learning, improving international recruiting, helping students in setting career goals, allowing for precise student evaluation, improving the decision making process and enhancing student results.
3. Media
As the modern approaches of consuming content online via gadgets is becoming a new trend, the hype for the traditional approaches of consuming media is slowly fizzling out. Because of the application of big data, and enormous amounts of data being generated, it has successfully paved its way into this industry. It helps in predicting what the audience wants, in terms of the genre, music, and the content as per their age group by offering them insights regarding customer churn, optimizing the media streaming schedule of customers, making product updates more effective in terms of time and cost, and in contributing towards effective advertisement targeting.
4. Healthcare
In enhancing modern healthcare operations, big data plays an integral role. The technology has fully revolutionized the healthcare sector by reducing treatment costs, predicting epidemic outbreaks, avoiding preventable diseases, enhancing overall life quality, predicting the income gained by daily patients to arrange staffing, using Electronic Health Records (EHRs), adopting real-time alerts to facilitate instant care, adopting health data for more effective strategic planning, to reducing frauds and errors.
5. Agriculture
Big data analytics propels smart farming in a field like agriculture and precision agriculture operations which eventually saves costs and unleashes fresh business opportunities. Big data is put to work in various vital areas which includes weather, and factors impacting crop yield, meeting the food demand by supplying farmers with updates regarding any alterations in rainfall, which plays a role in propelling smart and accurate use of pesticides to aid farmers in accurate decision making in relation to pesticides, management of farm equipment, ensuring supply chain efficiency, in planning when, where and how to plant seeds and apply chemicals and also in ensuring food safety by gathering data on temperature, humidity, and chemicals for examining a growing plant’s health.
