Learn about Top Three Applications of Big Data with Examples

big data online training

We can see quite prominently that the world today is ruled by data. From large-scale business owners to academicians, no one can deny the all-encompassing grasp of big data. Data science aspirants are going gaga over big data online training courses as it is opening new prospects every now and then, helping them expand the horizon of their knowledge. Plus, a career in the field of data science comes with a handsome amount of salary. Big data also provides a significant amount of scope to data aspirants. Research and various market reports say that the big data market size will expand to reach USD 268.4 billion by the end of 2026.

Companies, organisations, businesses work with big data to improve their performance and to reach their goals accordingly. While the chief target for most businesses is to boost customer experience, some of the other targets involve goal-oriented marketing, cost reduction, and remaining strongly in the business. In recent times, big data projects also hold the pursuit to include data-driven security within itself to provide better results.

Owing to its multifaceted nature, big data has numerous applications in various sectors and industries. Here, with the help of big data online training, we will take a look at three such industries where big data is considered essential.

Big Data Online Training Presents Three Industries that Uses Big Data Extensively

  1. Media and Entertainment

Consumers want to be exposed to amusement at all times, and that is why their demand keeps on growing with time. They want to have the liberty to access entertainment from a variety of devices. Here’s where big data comes into play. It comes face to face with several challenges as it works towards providing consumers with what they desire. Some of the challenges include the collection, analysis, and utilisation of consumer insights, working with mobile and social media content, identifying real-time market patterns, and media content handling of a consumer.

Companies in this particular industry analyse customer data and behavioural data simultaneously in order to generate thorough customer profiles that will be used for creating content targeted for a particular audience, suggesting content that is high in demand, and assessing the performance of the content.

  1. Banking, Finance, Security

Banking is one sector that cannot work without the aid of big data. Most banks use data to understand their customer base and to keep track of transactions made by each of them. A study reveals that there are several challenges that banks and financing sectors have to go through on a regular basis. These challenges include tick analytics, detecting card fraud, providing early warning for fraud cases, reporting of enterprise credit, documenting audit trails, making trade visibility, transforming customer data, operating IT analytics, working with IT policy compliance analytics, and many other matters of this sort.

The Securities and Exchange Board of India (SEBI) uses big data in order to monitor economic market activity. In recent times, they are using network analytics and natural language processors to acquire a detailed knowledge of illegal trading undertakings in the financial markets. Retail merchants and big banks make extensive use of big data for trade analytics which is used in high-frequency trading, sentiment assessment, predictive analytics, etc. the banking and finance industry also relies heavily on big data for risk analytics which include, fraud mitigation, anti-money laundering, KYC process, and others.

  1. Medicine and Healthcare

The healthcare industry has access to massive amounts of data. However, this sector has been afflicted by countless failures when it came to using data to reduce the cost of healthcare by incompetent systems that promised to generate fast and improved healthcare benefits across the nation. This sector, primarily, had to face this calamity owing to the unavailability of data. Furthermore, healthcare databases that have health-related information, have made it quite difficult to link data that can be used to show patterns beneficial for the field of medicine.

Most hospitals use data that is collected from mobile applications used by millions of patients. It allows doctors to prescribe medicine based on evidence, instead of administering numerous medical examinations to all the patients who go to the hospital for treatment. Medical tests can be useful but in many cases, they prove to be ineffective. Plus, these medical tests can be very expensive, which, many patients may not be able to afford. Mobile applications are usually affordable.


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