Organizations are moving to big data around the world to solve massive data problems. From customer analytics to storing sensitive real-time data, big data has proven to be an evolution for many industries. As the amount of data produced by each individual continues to increase, the deployment of large data services is accelerating.
For 2020, researchers have made significant estimates of big data analytics. It is estimated that with the help of big data analytics, the GDP of retail and industry will grow to $ 325 billion. In addition, with the help of big data analytics, productivity growth in health care and public administration is projected to reach $ 285 billion! Studies also show that by 2023, the value of the data industry itself would be $ 77 billion.
Great information for managers
Decision makers and business leaders are now actively involved in analytical projects. All organizations are likely to have multiple goals. Goals can range from customer experience to employee satisfaction, streamlining internal processes to optimized marketing, and more! Data analysis from different areas of the organization takes place to achieve these goals. The data sources are as follows:
- Operation – This includes metrics used to calculate the quality of work done by a company. Data is quantifiable business processes that come from a variety of sources.
- Finance – Data from this source show the financial situation of the company. The operating and financial sectors also intersect and produce a wealth of information.
- Constituency – All the information coming here is related to human capital from employees to partners. Their performance and satisfaction are subject to this criterion.
Great information for industries
Big data are causing waves of change in almost every field. Whether it’s sports, real estate or even agriculture; everyone uses big data analysis. Here we look at some of the top industries that use big data services. We also mention cases of the use of big data in these industries and their impact on performance.
Big data are sellers and buyers think of transactions related to products and commodities produced. The manufacturing sector uses big data analytics to forecast demand to better serve end users. It also helps in supply chain management and collaboration in product design.
Are we always looking for a more personal shopping experience? The big data regulations are just that! Big data allows retailers to leverage customer behavioral analytics. The large data also helps to understand the brand perception and identify target segments for future sales.
Healthcare itself is an ever-evolving field that strives to provide the best medicine. From the detection of health insurance fraud to the monitoring of patient vitality, all the big data do it. Genome mapping and research into diseases such as cancer benefit from extensive data. In addition, through medical case monitoring, follow-up, and referrals, big data also helps in diagnosing the disease.
Banking and finance
This sector handles sensitive data and volatile markets, so big data is essential here. The analysis performed helps in the fight against fraud and the country-specific risks in various financial operations.
Big Data for you
As you can see, big data affects one and all. You too can leverage big data analytics to improve the efficiency of your organization and toward business success. Big data in an efficient cloud is the power pair a company needs.
VEXXHOST provides an OpenStack-based private cloud service that supports big data solutions. OpenStack has a project dedicated to big data, better known as Sahara. Sahara provides users with OpenStack computing frameworks. If you are looking fully controlled cloud who have large data capabilities or want to use the Sahara for a previously created cloud service, contact us!