Big Data Use Cases

Big Data technologies can solve the business problems in a wide range of industries. Below are a few use cases.

• Banking and Financial Services
  • Fraud Detection to detect the possible fraud or suspicious transactions in Accounts, Credit Cards, Debit Cards, and Insurance etc.
• Retail
  • Targeting customers with different discounts, coupons, and promotions etc. based on demographic data like gender, age group, location, occupation, dietary habits, buying patterns, and other information which can be useful to differentiate/categorize the customers.
• Marketing
  • Specifically outbound marketing can make use of customer demographic information like gender, age group, location, occupation, and dietary habits, customer interests/preferences usually expressed in the form of comments/feedback and on social media networks.
  • Customer's communication preferences can be identified from various sources like polls, reviews, comments/feedback, and social media etc. and can be used to target customers via different channels like SMS, Email, Online Stores, Mobile Applications, and Retail Stores etc.
• Sentiment Analysis
  • Organizations use the data from social media sites like Facebook, Twitter etc. to understand what customers are saying about the company, its products, and services. This type of analysis is also performed to understand which companies, brands, services, or technologies people are talking about.
• Customer Service
  • IT Services and BPO companies analyze the call records/logs to gain insights into customer complaints and feedback, call center executive response/ability to resolve the ticket, and to improve the overall quality of service.
  • Call center data from telecommunications industries can be used to analyze the call records/logs and optimize the price, and calling, messaging, and data plans etc.

Apart from these, Big Data technologies/solutions can solve the business problems in other industries like Healthcare, Automobile, Aeronautical, Gaming, and Manufacturing etc.

Big Data Adoption

Data has always been there and is growing at a rapid pace. One question being asked quite often is "Why are organizations taking interest in the silos of data, which otherwise was not utilized effectively in the past, and embracing Big Data technologies today?” The reason for adoption of Big Data technologies is due to various factors including the following:

• Cost Factors
  • Availability of Commodity Hardware
  • Availability of Open Source Operating Systems
  • Availability of Cheaper Storage
  • Availability of Open Source Tools/Software
• Business Factors
  • There is lot of data being generated outside the enterprise and organizations are compelled to consume that data to stay ahead of the competition. Often organizations are interested in a subset of this large volume of data.
  • The volume of structured and unstructured data being generated in the enterprise is very large and cannot be effectively handled using the traditional data management and processing tools.