What is the use of big data analytics?
Big data analytics is nothing but analyzing the big data like the population, number of buyers of a particular product, etc., and getting useful results, hidden patterns, unknown correlations, and conclusions out of it. Big data analytics is crucial in industries with a wider consumer base like the mobile phone and smartphone industry, food industry, dairy industry, etc. There are numerous uses of big data analytics in these industries, which are listed below: –
1- Targeted Ads
The market for advertisements is huge, and it is one of the biggest sources of revenue generation on the internet. The value of advertisement in brand development can’t be ignored. But it should also be taken care that the ads are targeted to a particular audience. For example, a company in the sugar production business does not want to show its ads to diabetic patients, because it is of no profit. That’s why big data analytics is used in targeted ads distribution. Based on the history of users’ searches, it can recommend the companies about the user’s preferences and non-preferences. Based upon this output, particular ads can be shown. Don’t delay your career growth, kickstart your career by enrolling in this Data Analyst Course fees in Pune.
2- Personalize the customer experience
All businesses have to focus on their customers. They are the backbone and ultimate users of the company’s end products. But it sometimes happens that the company cannot understand the needs and demands of the customers. In cases like these, feedback can be taken from the customers. Post that, big data is generated, which then is utilized to know the cons of the product. For example, an app developer added a feature of vibration whenever a notification comes. Still, it is not liked by the customers because when they keep the phone in their pockets, it vibrates all the time. After gaining critical reviews on the app store, the app developer deletes those features and again gains the confidence of his users.
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3- In finances and monetary policy
More than a million investors invest in the share market and other related funds. So keeping a database of them is a very big deal and not too easy to implement. That’s why big data analytics is used here to prevent any fraud and tomfoolery. It also enables the government to keep an eye on the investors, checking whether they are using any unethical methods of tax evasion.
Monetary policy is a macroeconomic concept, which also is a part of big data analytics. Handling the consumer price index and retailer price index of all the goods and services is an element of big data. Hence, big data analytics enables officials to conclude out of it as well. Kickstart your career by enrolling in this Data Analytics Training in Chennai.
4- Healthcare
The patients often have to undergo a screening test before meeting the doctor. But it takes an ample amount of time and human effort. Also, if the problem is very minute, then the doctor’s time is also wasted. Keeping these facts in mind, big data analytics enables faster screening processing, and it draws conclusions based on the records of previous patients. Also, check out this Data Analytics Course online to start a career in Data Analytics.
These are only some of the most important uses of big data analytics. There are many other industries like education, telecommunication, construction, etc., where the true potential of big data analytics has yet to be revealed. It can prove to be an asset in human development in the future.
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