Big Data Analytics

Big data is inevitable in the health care industry. Patient records, health plans, insurance information and billing records can be difficult to manage – but are full of key insights once data analytics are applied. By quickly analyzing large amounts of health care information – both structured and unstructured, health care providers can provide lifesaving diagnoses or treatment options almost immediately.

Certain government agencies face a big challenge: tighten the budget without compromising quality or productivity. This is particularly troublesome with law enforcement agencies, which are struggling to keep crime rates down with relatively scarce resources. And that’s why many agencies use big data analytics; the technology streamlines operations while giving the agency a more holistic view of criminal activity.

Customer service has evolved in the past several years, as savvier shoppers expect retailers to understand exactly what they need, when they need it. Big data analytics technology helps retailers meet those demands. Armed with endless amounts of data from customer loyalty programs, buying habits and other sources, retailers not only have an in-depth understanding of their customers, they can also predict trends, recommend new products – and boost profitability.

As extreme weather continues to impact countries, the need to plan for weather related disasters is undeniable.

Populations continue to grow in extreme weather prone areas raising the magnitude of devastation when extreme weather strikes.

To get better understanding on how to cope with these natural disasters, countries have embarked in collection of detailed weather related data by leveraging capabilities provided by modern data storage hardware and software.

The rapid spread of sensors and satellites, and increase in computing capabilities, is making it possible to forecast weather changes more accurately and with improved detail–potentially saving thousands of lives and safeguarding properties.

This dramatically illustrates today’s big data phenomenon and its impact on weather forecasting.

To gain a competitive edge, financial institutions need to leverage big data to determine customer behavior, increase sales, develop data-driven products and much more.

The most progressive banks are rapidly deploying big data analytics to drive customer acquisition, increase customer loyalty, predict and prevent fraud and deliver more targeted advertisements.

One of the biggest challenges today in the finance industry is predicting the stock market correctly. There is big range of variables that control the momentum of the stock and therefore it difficult to predict the price. In order to increase the chance of good returns from stock market, an investor needs to have deep knowledge about its functionality to be able to make rational decisions.

Broker-dealers and securities trading firms are utilizing a combination of high-speed market data and sophisticated data analytics to identify and execute at high-frequency trading opportunities.

One of the main limitations with medicine today and in the pharmaceutical industry the understanding of the biology of disease. Big data comes into play around aggregating more and more information around multiple scales for what constitutes a disease ecosystem. This ecosystem needs modeling by integrating big data analytics.  This will provide more accurate results for given individuals conditions.