7 Industries Unlocking Big Data

In this age of Big Data, we are fortunate to live in a time when we can make more informed decisions than any other time in the history of man. I think we can all agree that we can’t really have too much data. That would be like saying I have too much money. Like money, data is much more valuable if utilized in some way, shape, or form. Neither will do anything for you locked up in Davy Jones’ locker. In a SmartData Collective article, written by best-selling business author Bernard Marr, Marr presents some examples of how seven industries have been able to unlock the treasure of Big Data, and use it for applicable business purposes. Below are snippets from the article,

RETAIL & SALES

“Different industries have responded to the call in different ways of course. Retail and sales will rely on gleaning as much information about their customers’ lives as possible, while in manufacturing the emphasis is on streamlining operations.”

“Once a product has been made (or grown) it needs to be sold and distributed. The petabytes of data on customers (us) gathered by big retailers tells them who will want to buy it, and where they can be found.”

MANUFACTURING

“Equipment calibration settings can be recorded and refined, and product storage environments monitored to determine the optimum conditions that lead to minimum spoilage and waste.

“For global companies this can mean collecting and analyzing data from plants across the world, allowing minor variances to be studied and their results understood.”

“For example, last year pharmaceutical giants Merck used analysis to dramatically cut the amount of waste caused by variance in manufacturing environment conditions.”

AUTOMOTIVE

“In the automobile industry, the advances made possible through advanced IT solutions and big data were called “an engine of innovation” in a recent report by the Centre for Automotive Research.

The report highlighted the growing complexity of cars and the industry as the biggest challenge faced by manufacturers – as well as the ways that are being found to tackle this through technology and data analytics.”

AGRICULTURE

“And in agriculture, data analysis is helping the industry meet the challenge of increasing the world’s food production by 60%, as forecasters have said will be necessary by 2050 due to the growing population.

INTERNET

“The Internet of Things will bring even more advances – as devices learn to talk to each other and cooperate, bringing connectivity into the real world. This week Cisco announced a $150 million fund for startups working on improving integration between the virtual and physical world.”

With all of the information promised from Big Data, it’s up to each industry to find a use and purpose for it. I’m certain that there will be many more success stories from the use of Big Data in the years to come. Don’t miss the boat or you might just end up in Davy Jones’ locker.

Click here to read the entire SmartData Collective article by Bernard Marr.