Three Big Data Use Cases for Modern Business

For a seamless flow of goods, supply chain activities need to be cautiously planned and monitored. Big data analytics enable operation managers to manage all the work and find obstacles in the supply system as well as improve inventory

Apac CIOOutlook | Monday, September 28, 2020

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For a seamless flow of goods, supply chain activities need to be cautiously planned and monitored. Big data analytics enable operation managers to manage all the work and find obstacles in the supply system as well as improve inventory

Fremont, CA: Data science for business has made significant strides in the past years and has emerged as an effective tool for organizations. Businesses can collect and analyze vast volume of information for effective decision making with the help of big data.

The big data industry is expected to be worth £59 billion by 2023. Companies that are not utilizing the benefits of big data are falling behind in the competition and missing out on one of the important technological tools of the century.

Here are three primary use cases of big data for modern business

Supply Chain Management

The majority of the products we use are either prepared or sourced from a different part of the world. Supply chain activities need to be cautiously planned and monitored for a seamless flow of goods. Big data analytics enable operations managers to manage all work and find obstacles in the supply system as well as improve inventory.

Energy Consumption

Big data analytics is playing a crucial role in regulating energy consumption. The application is used to monitor energy consumption regularly, and based on the data, we can get better insights and decrease daily usage.

Healthcare

Big data application plays a crucial role in enhancing medical facilities. Electronic health records (EHR) are essential in hospitals as they record patient information for staff to access quickly. Since hackers and data theft risks are a major cause of concern in electronic storages, a new blockchain-based data innovation is in progress through which decentralized information can be shared securely. Because blockchain has a transparent network, any suspicious activity will be noticed, making it difficult for the attackers to steal important information.