Top Three Traditional Industries being Transformed by Big Data Analytics
Big data analytics is one of the most trending topics in the 21st century. The term has gained a lot of hype among industry professionals along with related trends such as machine learning, AI, and blockchain technology. Although it may seem as if the term big data analytics is reserved for the most technologically advanced […]READ MORE >>
Big data analytics is one of the most trending topics in the 21st century. The term has gained a lot of hype among industry professionals along with related trends such as machine learning, AI, and blockchain technology. Although it may seem as if the term big data analytics is reserved for the most technologically advanced and modern industries, it is finding application across traditional industries as well. By analyzing data and information across huge data sets, companies can gain relevant insights, which can efficiently tackle their everyday business challenges. Here are some of the traditional industries making use of big data analytics.
At a glance, it would seem like the agriculture industry would be the last industry to use data analytics. It also seems logical that farmers would most likely not use analytics technology. But that image is rapidly changing as more and more farmers are leveraging data analytics to forecast the weather, improve land productivity, prevent crop spoilage, and determine the best crop to plant. The data collected from GPS devices in tractors, RFID chips, aerial vehicles, satellite images, and other environmental monitoring tools are processed to build accurate predictive models to improve overall productivity.
The healthcare industry for a long period of time has been thought of as a people-oriented industry, with patients completely relying on their doctors for their well-being. Data analytics arrives as a blessing not only for the patients but also to the healthcare providers as they can continuously monitor patient condition and recommend the best course of action. Medical professionals can screen the data collected from wearable fitness trackers, glucose monitors, and blood pressure monitors to continually follow up on the patient’s health condition and improve the quality of healthcare.
The level of globalization is increasing along with the world population, and the increasing need of transportation services cannot be solved merely by manufacturing more planes, trains, and cars. The current transport systems need to work efficiently to fulfill the increasing demand for travel needs. Airlines and automobile companies are using the latest analytics tools to move passengers efficiently and on time by ensuring full capacity at all times. Apart from this, the transport companies also use analytics to optimize the fare prices and consequently increase the overall revenues.
The power of data analytics is not limited only to the mentioned industries. Industries such as education, energy, insurance, retail, manufacturing, mining, media, and finance are also leveraging data analytics to improve their overall efficiency.
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