August 5, 2020
August 5, 2020
by Anastasiya Parkhomenko | 6 min read
Most of us associate terms like analytics, Big data, databases and statistics solely with the professional world of technology. However, data analysis is not something that’s only relevant to data scientists. In fact, we are all familiar with data analysis as most of us exploit the ability to analyse, recognise patterns, and make predictions to resolve problems in our day-to-day life even more often than we typically do with the help of technology.
In recent years, there has been an immense increase in the applications of Big data analytics in everyday life. Everything from food intake to entertainment, shopping, exercise, sleep, mood, daily routines, productivity and well-being can be tracked, measured, and shared today.
In the eyes of many, targeted ads, data breaches, privacy issues and aggressive profit maximisation techniques used in e-commerce have compromised the good name of data science. Nonetheless, data is not all bad, and here we would like to talk about the helpful side of data which we encounter in everyday life.
With the number of people using the internet passed the 4.5. billion mark, more than 3.8 billion people now use social media. Today, Big data analytics powers the continuous improvement of online entertainment, marketing optimisation, strengthening security, mobile mapping, and online shopping experience.
Big data enables personalisation allows us to enjoy a more personalised experience based on our preferences, choices and likes, and receive tailored communication to enhance retention and elevate trust. For example, ‘Discover Weekly’ has become one of Spotify’s most admired features, creating a custom playlist unique to each listener’s tastes, but its sophisticated machine learning algorithm is only as good as Big data behind it.
Moreover, Big data solutions also fuel different ways of bolstering security, for example, face and voice recognition, authorisation, check-in notifications, and some less obvious ways like blockchain tools to protect artists’ intellectual property rights.
Today many of us are looking to buy fitness trackers and download health tracking apps in order to maintain an active lifestyle, eat healthier, get enough sleep and control weight. The progress in wearable technologies today contributes to combating rising chronic conditions like diabetes and cardiovascular diseases by helping users to monitor and adjust their lifestyle.
Health data analytics is much more than just a fun way to track your step count, sleeping patterns and exercise routine. In late 2018, Apple released the ground-breaking Apple Series 4 Watch that allows users to take an electrocardiogram right from their wrist. Within days of its release, the innovative product made headlines with the lifesaving technology, which is able to detect potentially dangerous heart conditions much earlier than usual.
Health apps are now able to create self-learning healthcare programs, based on data of individual patients such as gender, age, weight, medical history, lifestyle and habits, to provide a personalised recommendation about adjustments that would be most beneficial.
In 2019 alone, over 130-million fitness trackers were sold, each of them now uploading continuous, real-time health data of millions of people all around the world to the cloud. Companies are analysing the metrics to understand what motivates people best, and how to increase customers’ engagement and retention.
Many people think that the large-scale collection of anonymised health data would help medical authorities better understand the impact of lifestyle on diseases and response to treatments. Some important real-world applications of Big data in healthcare include predictive analytics, electronic health records, prevention of unnecessary ER visits and real-time monitoring of patient health.
Efficient logistics is usually barely noticeable, but it is difficult to overestimate its impact, especially in today’s pandemic reality. Companies such as DHL, Alibaba, UPS and FedEx use data science, relying on numerous data on routes, available vehicles, traffic, weather, and many more to get correct delivery estimates, even when you are ordering from abroad. With the help of real-time insights provided by Big data, companies improve their performance, for example, by prioritising perishable goods delivery or moving goods to a nearby warehouse once users add them to shopping cart.
Airlines schedule flights, predict delays, and estimate ticket demand based on seasonal fluctuations, competition analysis, based on weather data, and latest societal trends. Moreover, they are able to optimise the usage of aircrafts and accurately predict the number of planes to engage.
Did you know that more than a half of companies suffer losses due to problems or costs associated with poor quality data? Contact us today so we can discuss how Big data analytics can lead to a substantial increase in sales and customer satisfaction by up to 50% in a broad range of industries, such as finance, insurance, automotive, telecom, and public sector.