How to understand Big Data Analytics for growing your business? Check here

By Soutrik BanerjeeTuesday July 4, 2023

Data Analytics is getting more interactive by the day and we should leverage this to the fullest extent. But due to evolving modern businesses, data is getting more unstructured and transforming itself into a pile of unorganized information.

For such a rapid shift, big data is becoming challenging to analyze and understand what it is expressing. Big data makes it difficult to interact with conversing data, which becomes a pandemonium for organizations. In the middle of such operational chaos, you should pivot into learning, adapting and giving efforts after gaining experience from leaders.

They are the beacon of success which inspires you to rise above all hurdles. Sip some coffee and enjoy this insightful article about how big companies leverage big data analytics to grow their business.

These organizations have learned to distinguish relevant information from white noise and process it precisely for better growth. These companies can come from several industries like aerospace, sports, several government agencies, life sciences and many others.

How big data analytics is helping companies?

Airbus is a company that has been dominating the aerospace industry for about four decades. The company has years of expertise in designing and manufacturing several products from the aerospace industry and provides many other services under the domain.

The aerospace industry is very competitive which allows Airbus to be at the top of their game. They have to be productive and efficient at all times to provide top-notch service to their customers. In this regard, big data along with analytics is helping the company massively.

Reports indicate that with the help of technology like the IBM InfoSphere Server, Airbus can study data along with deeply analyzing and navigating it. The data server provides about 4TB of data, which should be of indexed category, spread across various sections of the business.

Such an enormous amount of data is accessible to individuals from the service department, who are working to create better programs for airline maintenance. Reports from a senior executive suggest that data is essential for business growth and looking at aircraft as an interactive machine.

You should also know that aircraft produce data which is sized about in petabytes. Also in the aerospace industry, only 2% of that data is studied and analyzed in a constructive manner. Leveraging data in such a manner should help your business gain more insights about your customers.

With such mechanisms, customers get their airplanes back flying in a very efficient time. The top-level executive of Airbus also shares that with the help of big data analytics, the company was able to save about $36 million in a whole year.

Big data analytics is also helping Airbus to make lead time better for producing several aerospace units. With this, customers can get their deliveries in the right time. Digital solutions are helping the company in various ways.

Individuals from different floors can update the progress of their project in real-time. With such a system, workers can communicate across different departments and reduce the amount of paperwork, ultimately working more proactively in every approach.

Airbus is constantly using big data analytics to make the business models more digitally equipped and get more data-driven.

Diversifying data into various industries-

Reports indicate that the NFL Players Association or NFLPA partnered with WHOOP a few months ago. WHOOP makes wearable devices which should help athletes to keep a note on their levels of health and performance.

With WHOOP’s devices, an athlete can wear it on their forearms, wrist or on biceps to analyze data during training or recovery. These devices allow coaches to understand what amount of sleep these players take, comparing it to the number of hours of sleep needed.

It also provides data regarding the muscle strain levels of athletes which helps in studying ways to reduce muscle injuries and provide better experience during recovery times. These wearable devices also help coaches to strategize personalized training programs for different athletes, based on the data of performance levels.

Reports from bioethicists like Jennifer Fishman along with Katrina Karkazis states that ethical and judicious use of these data can help in reducing injuries in the professional sports industry and improve career prospects for athletes.

There are reports that also state that data of these athletes are preserved solely within the individual themselves. These athletes should have the ownership and decision behind the usage of these data, which they can even sell in any strategy they could think of.

Using big data analytics to find a cure for cancer-

We are living in the age of technology, where innovations should address the pain points of society. Several industries like sports, life science along with business and manufacturing are understanding the veracity of effective data.

Looking into the life sciences industry, there is an expansive approach in studying and researching the human body. These analyses backed by science necessarily indicate the need to stay healthy and keep our bodies free from diseases.

The human body is tied to several tissues and cells that are connected to multiple organs. These organs form a complex biological ecosystem that needs constant care and attention. This system is further regulated by the genes present in our DNA.

When we study the human body, there are about 20,000 genes present in one cell. About 7 billion atoms make a cell and there are about 37.2 trillion cells in the human body. From a research perspective, these provide about petabytes of data. Life scientists have to decipher such amounts of information on a regular basis.

Science is optimistic about the revolutionary approach of big data analytics claiming that cure to diseases can be addressed more quickly. It can also help in the not too distant future to analyze and find a conclusive answer to cancer.

Big data analytics can help understand the reason for tumor growth. It can also help to study factors leading to heterogeneous growth of tumors and navigate productive ways for treatments.

Genomic Data System-

The Genomic Data project is about making cancer data accessible to researchers from around the globe. With a different set of expert eyes, there could be a better form of research to find a cure for cancer.

This data system is present in the University of Chicago, where this is said to be the largest open-access repository in our world. Looking into the research side of cancer, most of the data is overwhelming. Understanding, managing and pivoting with the available data on cancer is a tedious job.

The role of Genomic Data is to put the large amount of information in a digestible manner for researchers to work on the research and ultimately accelerate the treatment for cancer.

Government utilizing the benefits of big data analytics-

The most crucial effort of the government is to communicate with several departments and ensure the well-being of the country’s citizens. Reports suggest the US Government, both at the state level along with the federal levels have been working with big data analytics.

With the onset of this new domain, experts and professionals are working tirelessly to leverage big data analytics for business growth. The objective is to efficiently handle data and help different agencies work proactively.

As time passes, data is getting more and more broad and diverse. It is necessary to learn the correct usage of these data, in order to build a just society. There are technologies which can detect data from the transportation industry.

With big data analytics, it is accessible to read hotspots for accidents on the road and understand places with maximum traffic movement. You can come out with measures to reduce such mishaps with evidence from data. We can also understand possibilities in disaster management as big data analytics is said to predict natural disasters. With high resolution images from satellites, machine learning along with artificial intelligence can help in predicting natural disasters. Platforms are equipped with ‘algorithms for predictive disaster’ which is reported to provide real-time data to governments and other federal agencies. With some embracing, big data analytics has a lot to offer to our society. With logical insights, businesses can automate their operations and understand more about their target market. As someone rightly said, ‘Data is the new oil’.

Frequently Asked Questions-

How does big data analytics help in growing business?

Ans– Big data analytics gather key insights about target audience and help businesses create their product accordingly, based on the latest demands.

What insights are provided by big data analytics?

Ans– Big data analytics provide insights like market trends, market patterns, customer experience and many others to help businesses understand their market.