Big Data Industries: 5 Industries Being Reshaped by Data Analytics
You’ve heard all about Big Data and the theory behind it. But do you know how data analytics are actually being used to change the way we work in the real world? Keep reading for an overview of Big Data industries and how they are being reshaped by data analytics.
The central promise of Big Data, of course, is that it provides a new way to gain insights into the challenges businesses face every day. In the past, collecting and interpreting vast quantities of data was not feasible because the technologies that automate that process did not yet exist – plus, organizations did not generate much born-digital data in the first place, because the computer systems they used were much smaller.
Fast forward to the present, however, and your business generates all sorts of data – from machine data associated with your servers and networks, to emails, to customer purchasing trends. If you want to stay competitive and lean, you need to leverage that data to help move your business forward.
5 Traditional Businesses that are Now Big Data Industries
But don’t take my word for it. To get a real sense of how important data has become to business, take a look at today’s top Big Data industries to see how these industries are being reshaped by data analytics.
Examples of this trend include the following:
Retail banks use data extensively to understand how their customers use their accounts and to help identify security risks. In the future, data may also become the basis for banks to help consumers use money more efficiently, too.
Beyond retail banking, it’s no secret that investment banks are now very invested in using Big Data to understand the markets and make smart trading decisions.
Farmers are probably not the first people who come to mind when you think of Big Data. But data analytics are now crucial for agriculture – and they are poised to grow only more important as predicting the weather and squeezing maximum productivity out of the land become essential for feeding a growing world population.
When thinking about Big Data industries, a well-established business model such as Agriculture may not immediately jump to mind, but data analytics are now a crucial part of this industry.
How do you teach more effectively in an age when students are glued to screens? Part of the solution lies in leveraging those screens to collect and analyze data that can help you teach better. That is exactly what innovators in the education industry are doing.
Keeping complex networks of trains, planes and automobiles running on time is challenging. But Big Data is helping businesses like Amtrak and Southwest to move passengers around efficiently and on time.
Data has long been crucial for doctors seeking to figure out, based on analysis of a large number of data points collected from many patients, which blood pressure range is normal or how much sugar you should consume each day. But now, the healthcare industry is using data analytics to answer bigger, more complex questions.
For example, if you want to find out if a patient is at higher risk than average of substance addiction, Big Data can help you do that. Going forward, data collection through devices like smartphones and wearables will be able to help doctors understand their patients at an even deeper level, according to analysts – which means saving money and delivering better care.
Whether you’re in one of these industries or a different one, there’s a good chance that embracing data-based operations is the key to innovating and staying relevant in the Big Data age. Syncsort’s data integration solutions can help you do that by making sure the data you collect is actionable and ready to analyze using the latest data analytics platforms, like Hadoop and Spark.
For more information, watch our webcast, Data Trends for 2019: Extracting Value from Data