Starter's Guide to the Top 10 Big Data Analytics Applications in 2020
Introduction
Most of the stakeholders, industrialists, entrepreneurs, etc., have come to realize the importance of Big Data and they are now referring this data to being a big game-changer. Many organizations associate different names to Big Data such as big business, big evolvement, etc. But have you ever wondered why do they associate such names with Big Data and its related components? This is because the annual growth rate of Big Data is more than $230 billion and this market is expected to grow by 11.6% in 2021.
Various organizations adopt Big Data Analytics for various purposes but the prime purpose is to provide enhanced customer satisfaction. Other factors may include the reduction of the production cost, marketing by targeting the customers better, and to make the already existing systems or applications to work faster.
Moreover, in recent times, when the security of your customers remains at stake, the incorporation of Big Data Analytics help to save your data, big time. That is why it is highly important to get your hands on Big Data Certifications to understand this terminology.
Top 10 Big Data Analytics Applications
You may have incorporated various Big Data applications and solutions in your systems but have you made an evaluation yet? That is why we have combined the top 10 Big Data Analytics applications used by various other organizations. This approach will let all the organizations know where they stand and what role are they playing in today's market to stay at the top of the game. Below mentioned are the top 10 applications that are constructed upon the information received from the Big Data Analytics.
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- Risk and Fraud Detection
The first-ever application of Big Data Analytics emerged in the sector of Finance and Banking. Before the incorporation of Big Data Analytics in Finance, many banks faced tremendous losses and bad debts each year. However, when they started to sanction loans and other credits, they used to collect large bulks of data and due to this reason, they decided to incorporate Big Data Analytics.
Big Data saved many banks from drowning in the ponds of losses and debts every year by the method of dividing and conquering. Banks used to combine all the information regarding their customers which include their past expenditures, profiling, and all the other factors that can contribute to potential risks and frauds.
- Internet Search
This application may sound absurd to your ears but at the same time, it is quite remarkable to understand the working of Data Analytics in Internet search. Whenever we search for something, we immediately pop up a window which leads us to Google. But did you know that there are various other search engines as well such as Ask, Yahoo, Bing, etc.?
All of these engines make use of Data Science to deliver us the best results or assumptions of what we are searching for. For example, whenever you search for something on Google, it delivers you a large number of options immediately. This is where Big Data Analytics plays its role because all of these search engines process large sums of data every data.
- Website Recommendations
If you have shopped online from Amazon or any other site, you may have seen a large number of suggestions popping up when you search for your product. Numerous companies have used this application to promote their products and services and this wouldn't have been possible without the incorporation of Data Analytics.
All of these recommendations are primarily based on what the user saw or liked when he/she previously visited a website. Miscellaneous companies such as Amazon, Netflix, Twitter, etc., have taken advantage of this Big Data Analytics application to provide a better experience to its users.
- Speech Recognition
Gone are the days when you would type a long text to send which ultimately resulted in making you more tired than you already were. This is because, now, you have Siri, Cortana, Google Voice, and various other speech recognizing devices. From now on, you will only speak out loud what you want to send and that message will be automatically sent to the supposed person. However, this system may not be as exact as you want it to be or it seems to be.
- Gaming
In today's advanced world, all the games are based on the algorithms provided by the Machine Learning which gets upgraded as the player secures a position in higher levels. These algorithms help to shape up the game by critically analyzing the previous moves of the player. Sony, EA Sports, Nintendo, etc., gave a new shape to the gaming experience by indulging in Big Data applications.
- Healthcare Sector
According to a survey, the healthcare sector is the sector that is receiving a large number of benefits from the applications of Data Science.
- Genomics and Genetics
In the research of various diseases, Big Data helps to integrate various other data with that of genomic data. This is done to figure out a variety of diseases that may be the result of the genetic reactions to drugs or other chemicals. Once, we extract reliable genome data, we will be able to learn and understand the human DNA as well.
- Virtual Assistance
Virtual assistance refers to that assistance that can be provided to the patients behind their mobile screens. In other words, instead of going to the doctor, this approach helps to bring the doctor to the patient. Big Data Analytics now enables you to interact with your doctor and tell him/her about your recent health issues.
- Medical Image Analysis
Big Data Analytics is being used to detect tumors, delineation of organs, or stenosis of arteries for a long time. Various methods of machine learning have been incorporated for several kinds of analysis primarily for the classification of solid texture.
- Targeted Advertising
Targeted advertising plays the most significant part in changing the outlook of the entire organization. We know that this is the era of digital marketing and the Call-Through Rate acquired from the digital ads is higher as compared to that acquired from the traditional ads. You may have noticed this as well that if you search for some product or a company or a training program, you will see a lot of related ads after that. At the same time, when another person searches for apparel, he/she will receive those ads instead of the others.
- Advanced Image Recognition
We all use Facebook and upload images but have you ever noticed that why suggestions pop up to tag your friends whenever you upload a photo? This is the working of Big Data Analytics applications where all of your previous data gets into working. With the help of this application, one can tag his/her friends due to the advanced image recognition system provided by Big Data Analytics.
- Route Planning of Airlines
The industry which has suffered from a large number of losses and hits is the airline industry. Moreover, the sudden increase in the prices of the air-fuel along with the demand for heavily-weighted discounts has taken another toll on this industry. But with the emergence of Big Data Analytics, many strategic improvements have taken place in this industry. With the help of Data Analytics, all the airline companies can now cover the following areas such as:
- The companies can now figure out which airlines' class can they buy in the meantime to maximize profits.
- All the programs related to the loyalty of the customers can be effectively driven due to Data Analytics.
- Instead of driving a hassle, this application can help you to delay flights and timely informs all the passengers.
- This system can help you to decide which route you can take to land your airlines whether to land on the said destination or in another country.
Two of the most promising airline companies, Alaska Airlines and Southwest Airlines, have incorporated this system which has improved their services a lot.
- Augmented Reality
Last but not least, Augmented Reality is the Big Data Analytics application which has enabled us to see beyond the limits. The integration of Data Analytics and various other algorithms of Machine Learning has certainly opened new ways of enhancing the viewing experience of the users. We can understand this concept by the newly-launched game known as the Pokémon Go. In this game, wherever you go, you will see Pokémon coming with you on every corner, street, or road whereas, in the reality, there will be nothing to see.
Conclusion
If you want to know what an amazing future that Big Data Analytics applications hold, you need to develop a deeper understanding of Big Data Analytics first. Therefore, become a part of the Big Data by acquiring Big Data Certifications to enhance your abilities by polishing all your Big Data skills. These certifications will certainly help you to jumpstart your career in Big Data Analytics and become an expert in Big Data.