Top Big Data Use Case
Big data solutions scan large amounts of data to discover unseen patterns, correlations and other insights. With Big Data technology, it’s possible to examine your data and get answers from it immediately. It is an effort that’s slower and less efficient with more traditional business intelligence solutions.
1. Banking Sector Use Cases
Banks have already started using Big Data to examine the market and customer behavior but still a lot of need to be done.
Banks use analytics to differentiate fraudulent interactions from legitimate business transactions. By applying analytics and machine learning, they are able to define normal activity based on a customer’s history and distinguish it from unusual behavior indicating fraud.
Big data analysis helps them to know about the details like demographic facts, transaction facts, personal activities, etc. Based on these data, banks can make a distinct list for such customer and can target them based on their concern and behavior.
Compliance and Audit
Banking needs to do steady compliance and audit for their data, finance, and other stuff. They come under regulatory body which requires data privacy, security, etc. Moreover, Big data analysis can again help in analyzing the data and finding the situation where financial crisis or security issue can occur. Of course, this will help the banks to save from any compliance and regulatory issues.
2. Telecom Sector Use Cases
Telecom companies want to understand customer location and travel patterns to support real-time promotions, publicity, and up-sell of services. They desire additional, textured information to improve the quality of their network processes and provide improved customer service for their most important customers.
Moreover, Telecommunication companies are using Big Data to do things like:
- Understand the potential of new product offerings
- Improve customer experiences
- Reduce service truck rolls while improving customer service
- Estimate network capacity and demand faster and more accurately
- Instrument value-based network capacity planning
- Lessen customer churn
3. Education Sector Use Cases
The higher education sector has data from countless sources to process. Moreover, three ways we can benefit from using Big Data are as following:
A key test for educational institutes is to quickly understand what industry needs and to deliver a curriculum to meet those demands. Big Data can be used to understand the market and employment trends. And also to establish preliminary courses and important learning values around developing ideas in the corporate world.
Big Data allows a teacher to analyze, in real time to a student’s understanding of the content. Analytics shows how students learn and
can help educators adapt their teaching styles and address student needs before the final grade is conveyed.
Make courses thought-provoking for students with diverse levels of information. Introduction courses can often have students with diverse levels of important knowledge. Using data analytics to understand where each student is struggling or excelling can allow you to offer different starting material for each student within the same course.
Nub8 experienced team is able to provide Big Data services with customizable solutions for every organization. Moreover, our aim is to provide a big data solution, which allows your business to delve into the deepest levels of data, to gain actionable insights.