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New Trends Success for Big Data Technology

Big Data as a New Business Development Driver

Businesses have started by using Big Data 3 times much more in the previous five years. Moreover, the application is going to grow. Statist predicts that the global Big Data market will reach #103 billion by 2027.

Big Data Trends, Tendencies and Impact across Industries

Companies that ignore Big Data technology risk losing profits. Lost profits often manifest in the form of lost user and missed optimization. In recently, the businesses are focusing on the development of internal Big Data expertise.The Big Data analysis is increasing. Indeed, companies that already employ Big Data analytics will not stop growing the number of their Big Data projects for many years ago.

The Big Data analytics depend on the industry domain. For instance, the use of this technology costs millions of dollars to telecom companies. This is because telecoms use more and more servers to store and process data. In additional, it helps to ensure for the data protection and confidentiality. Big Data solutions for the businesses differ based on the type of collected data and the challenges addressed. Let’s have a look at some better instance

Big Data in Telecommunication

Telecommunication companies create for the solutions that attract many customers for every day, which makes a vast field for fraud. Illegal access, fake profiles, authorization, cloning, behavioral fraud are the most prevalent types of fraud. In additionally, fraud has the direct impact on relationships with the customer. The system can also identify for the customer groups who are particularly prone to spam and alert them. Moreover, according to China Mobile, as the Sky Shield is put into practice, the systems’ accuracy improves.

The world’s biggest mobile operator in terms of subscribers, China Mobile has developed the Sky Shield system based on the Big Data analysis and machine learning technology. It is capable for detecting phrases typical of fraudsters, intercepting spam mailings or calls. Developers used the extensive database of fraud cases provided by the police departments to train the algorithm.

Big Data in Healthcare

Medical data analysis has enormous potential. For the use of Big Data technology in healthcare, it’s possible to:

• Provide early screening for diseases;
• Lower treatment costs;
• Forecast epidemic breakouts;
• Improve the overall quality of life;
• Introduce moderm treatment methods into practice.

The largest independent manager of pharmacy benefits and many pharmacies in the United States, Express Scripts processes millions for prescriptions the home-delivered and retail pharmacies in annually. Their information about individual patients has become so rich that they will soon be able to notify medical personnel for drug side effects long before it is even prescribed to a patient.

This will result in significant beneficial changes in the health system of the nation:

• Health care provider’s for the patient risk of addiction before prescribing pain relievers. In such cases, it’ll be possible to choose for the different treatment plan and more closely monitor drug consumption.
• Analyzing patient compliance with doctor’s orders after discharge will assist in predicting the likelihood of readmission up to 90 days and take appropriate action to prevent it.
• Analysis for the physiology, prescriptions and other medical information will aid in identifying the development for the chronic illness and illness that has not yet been adequately diagnosed.

Big Data in eCommerce

The advent of personalization marketers relied on surveys and sales analysis to determine for the user needs. Nevertheless, this method produces results that are hardly comparable to reality. Retailers get for the massive amount of data that can be used for the user communication and the optimization of internal processes. For instance, the Walmart network also uses Big Data technologies to process 2.5 petabytes of data for each and every hour. Big Data algorithms were utilized to stabilize the situation, allowing for removing 40 percent of the store’s inventory without lowering sales. Modern retail is shifting away from the CRM marketing and toward predictive analytics.

Big Data Benefits for Education

An American leader in corporate, educational programs, Skillsoft, in collaboration with IBM, leveraged internal data for the customer interactions to tailor of their experience, increase engagement and improve learning outcomes, directly through the program and email newsletters.

Customer activity was utilized to monitor engagement and determine for the best time and channel of communication to capture the users’ attention. They have based on the preferences of the customer, a recommendation system for the educational content was built (84 percent of users rated the recommendations as relevant). The company infused data-based visualization tools that tailor to each individual customer in the system.

Big Data Benefits for the Mining Industry

In the mining sector, companies face increased competition due to increased requirements for the environmental component of production. As a result, the trend makes it critical for companies to use resources as sparingly as possible.

A mining giant Severstal has implemented for the system based on the Internet of Things (IoT) and Big Data analytics to monitor electricity consumption. They have significantly improve the quality of energy consumption forecast  approximate 20 to 25 percent in monthly and save #10 million for every year by reducing fines, optimizing procurement or countering electricity theft. Data analysts predict for the Big Data will soon become the primary decision making tool for every business. Small start-ups and big international organizations will benefit greatly by using this latest technology.

Advantages of Big Data for Marketing

The ecommerce store for bicycles and motorcycles, Bike-Berry has implemented sophisticated machine learning algorithms and statistical models. The collected data on purchase history, demographic or behavioral information combined with the technologies the company used allowed for the identifying and utilizing behavioral patterns on the Bike-Berry website.

The result shows that the store was able to recommend for the most relevant products to the user and began making targeted discount offers exclusively to those users who indeed required them, which helped to:

• Improve customer activity up to 200 percent
• Increase sales up to 133 percent
• Increase the average check of such customer up to 30 percent
• Double the number of returning for the user

Big Data in Transport

Based on the data, the Union Pacific was able to develop predictive models that allow for the monitoring condition of the wheels and railway to prediction of train derailments several days and even weeks before an incident. The Big Data technology made it possible to handle such problems swiftly, avoiding damage to trains or delays.

Impact of Big Data on Agriculture

The Big Data has the much more significant prospects in conservative industry sectors including agriculture. This is because big data will help save either labor or resources in this industry.

Global food demand is anticipated to nearly double by 2050, putting farmers under pressure to raise output. In this case, Big Data information received from the soil sensors, tractors with GPS trackers or local meteorological channels. Comprehensive analysis for this data allows farmers to manage seeds, pesticides and fertilizers. It is helps to increase productivity.