Data Science: A Team Spirit
55 days ago
Python Opens The Door For Computer Programming
Top 10 Sectors Making Use of Big Data Analytics
- Banking and Securities : For monitoring financial markets through network activity monitors and natural language processors to reduce fraudulent transactions. Exchange Commissions or Trading Commissions are using big data analytics to ensure that no illegal trading happens by monitoring the stock market.
- Communications and Media: For real-time reportage of events around the globe on several platforms (mobile, web and TV), simultaneously. Music industry, a segment of media, is using big data to keep an eye on the latest trends which are ultimately used by auto tuning software's to generate catchy tunes.
- Sports: To understand the patterns of viewership of different events in specific regions and also monitor the performance of individual players and teams by analysis. Sporting events like Cricket world cup, FIFA world cup and Wimbledon make special use of big data analytics.
- Healthcare: To collect public health data for faster responses to individual health problems and identify the global spread of new virus strains such as Ebola. Health Ministries of different countries incorporate big data analytic tools to make proper use of data collected after Census and surveys.
- Education: To update and upgrade prescribed literature for a variety of fields which are witnessing rapid development. Universities across the world are using it to monitor and track the performance of their students and faculties and map the interest of students in different subjects via attendance.
- Manufacturing: To increase productivity by using big data to enhance supply chain management. Manufacturing companies use these analytical tools to ensure that are allocating the resources of production in an optimum manner which yields the maximum benefit.
- Insurance: For everything from developing new products to handling claims through predictive analytics. Insurance companies use business big data to keep a track of the scheme of policy which is the most in demand and is generating the most revenue.
- Consumer Trade: To predict and manage staffing and inventory requirements. Consumer trading companies are using it to grow their trade by providing loyalty cards and keeping a track of them.
- Transportation: For better route planning, traffic monitoring and management, and logistics. This is mainly incorporated by governments to avoid congestion of traffic in a single place.
- Energy: By introducing smart meters to reduce electrical leakages and help users to manage their energy usage. Load dispatch centers are using big data analysis to monitor the load patterns and discern the differences between the trends of energy consumption based on different parameters and as a way to incorporate daylight savings.