Hype or Substance? 5 Ways to Use Big Data Analytics for Real
Big data is transcending industries and changing the world one implementation at a time. Sure. It’s a buzzword churned right out of the hype machine, but this thing is producing real results for countless practitioners, audiences, and users. The neat thing about big data is that it isn’t limited to big corporations with big bankrolls and big information challenges. Medium-sized and even small companies can benefit by adopting the methodology behind this worldwide sensation.
Despite hearing all the praise, some observers are still confused on how to capitalize on the momentum and use it to their advantage. If you’re one of them, pay attention because this article will explain some realistic ways you can put big data analytics to use.
1. Customer Targeting
Big data analytics is getting plenty of usage by organizations looking for a more effective way to reach or target their audiences. In the case of targeting and marketing, the company is often aiming to build
predictive models based on the customers preferences and past behaviors. By analyzing what they purchased last year, a retailer can better predict what products consumers are likely to buy during the holiday season. With the right tools and strategies, a magazine publisher can determine which mobile devices or social networks their readers are likely to use when consuming content.
2. Improve Healthcare Quality
Some of the most promising use of big data analytics has been seen in the healthcare field. With immediate access to medical records, physicians can treat emergency patients faster and more efficiently. Thorough examination of historical data with the usage of modern analytical, reporting, and visualization tools can fuel medical scientists in developing treatments and cures to diseases. From aggregating large data sets and identifying trends to shaping patient outcomes, big data helps healthcare organizations trim operating expenses and save even more lives on the operating table.
3. Build Smarter Apps
Developers and companies are steadily leveraging their data to create engaging app experiences. With all the information you have on your customers, you can create a tablet or smartphone app that offers the features, branding elements, and social connectivity they look for in a mobile experience. You could use the data collected from years of performance reviews, internal surveys, and general observations to build internal applications for employees. As the ecosystem evolves, we are likely to see more apps that learn over time and improve with each interaction to aid users in completing a range of specific tasks.
4. Optimize Daily Operations
There are several routine business processes that can be fine-tuned with the use of big data analytics. Take supply chain management, for example. Through a combination of GPS and sensor data, an office supply warehouse can map out the best route for delivery trucks to travel. By analyzing the social media profiles of job candidates against the profiles of existing employees and the company culture itself, HR departments can optimize acquisition efforts and make sure they’re recruiting the right talent. From inventory to productivity, big data analytics can greatly improve the daily workflow.
5. Boost Student Engagement
Education is another area that offers much promise when paired up with big data. In one case study, the Catholic Education Office (CEO) sought out analytics to improve its information infrastructure and decision making capabilities. The organization turned to Space-Time Research’s SuperWEB to accommodate its need for number crunching. SuperWEB enabled CEO to meet those goals by providing a better way to discover, analyze, and visualize the scores of data at its disposal. Whether it’s optimizing learning resources or predicting student trends, big data is driving a higher level of learning.