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Data has evolved so much in the last few years that one can find its applications in almost every business sector. Almost all businesses make use of data in one form or the other and have profited profusely. It is impossible to even think of a business that doesn't rely on data. This throws light on how crucial data is. On the same lines, we will talk about the top 10 industries using big data applications in 2023. Keep reading!
E-commerce
This is one of the fastest-growing industries and one big reason for the same is big data. Big data in this sector has played a pivotal role in improving the user experience. Technology has evolved so much that e-commerce websites use data in almost every move they make. Right from getting recommendations as per your liking to showing products that might go with your past buying trend, data makes it easier than ever. Now, you know there's nothing more than you can ask for!
Education
Big data is used extensively in higher education. It is quite useful in tracking when a student logs onto the system, how much time is spent on different pages in the system, as well as the overall progress of a student over time. Yet another interesting application of Big data is to measure teachers' effectiveness to ensure a pleasant experience for both students and teachers.
Media and Communication
Consumers expect rich media on demand in different formats and a variety of devices. What can be a better alternative than big data when it comes to data collection, analyzing, and utilizing consumer insights, understanding patterns of real-time, media content usage, etc.?
Healthcare
Probably one of the best use of data is in the healthcare sector. Not only has this led to solving a majority of the problems on the health front but also has made the economy better. With big data in place, we now have a better understanding of how the health sector is functioning, the prevailing ailments, identifying a chain of diseases, their spread, curb data, and so much more. What is worth a mention is the fact that the combination of historical data and medical intelligence has aided in the discovery of drugs.
Gaming
Yet another way to use data most stunningly is in the gaming sector. Not just that, but you can make hefty money, too! Big data gives you information as to what is the ongoing trend, the preferences of the gamers, and what best can be offered to them.Financial Institutions
It is quite a common observation that credit card frauds and fake reviews are two of the most significant issues that majority of the companies deal with. Big data plays a vital role here. The financial institutions make use of Big Data to monitor financial market activity and by using network analytics and natural language processors, they succeed at catching illegal trading activity in the financial markets.
Manufacturing and Natural Resources
Big Data paves the way for predictive modeling to support decision-making that has been utilized for ingesting and integrating large amounts of data from geospatial data, graphical data, text, and temporal data. Areas of interest where this has been used include; seismic interpretation and reservoir characterization.
Insurance
Yet another excellent application of Big data is in the insurance domain. It has been used in the industry to provide customer insights for transparent and simpler products. Wondering how? Well, this is done by predictive analytics through data derived from social media, GPS-enabled devices, and CCTV footage. All in all, Big Data also allows for better customer retention from insurance companies.
Human Resource Management
The HR department of the organizations has benefited a lot as a result of data. With the help of Big data, one can examine applications based on specific parameters. It becomes easy to go through the job candidates' profiles and resumes to provide recruiters with an understanding of the talent pool they must choose from.
Energy
Big data has its presence felt in the energy sector as well wherein the smart meter readers allow data to be collected almost every 15 minutes as opposed to once a day with the old meter readers. This granular data is being used to analyze the consumption of utilities better, which allows for improved customer feedback and better control of utility use.
