When new technological innovations become more affordable and easier to use, they end up transforming industries and all aspects of human life. Over the last couple of years, the advent of big data has been changing the way big corporations and small companies carry out their business operations. Big data is being incorporated into the healthcare industry, manufacturing, retail and even financial services such as banking and insurance. If such trends are anything to go by, big data will continue to have utility in almost all the industries. Big data is set to become even more disruptive as we head into the future. Companies will be able to collect the vast quantities of data that is generated daily and store it for future reference using such technologies as cloud computing. In this article, we are going to highlight the impact of big data on the various industries.
Big data has been able to bring a transformation in the way medical practitioners diagnose and treat different diseases. This technology has also helped avoid preventable deaths and improved the quality of life of the patient. Big data analytics is critical in assisting doctors to get as much patient information as possible at the earliest possible time. It becomes quite easy for the team collaboration of doctors to treat a disease that has been identified at an early enough stage. The treatment of such an ailment also becomes less expensive and has more straightforward treatment procedures. The patient can also enjoy much quicker recovery time, since the treatment will be less-invasive. For instance, big data techniques can be used in monitoring the breathing patterns and heartbeat of a baby that has been kept in a baby nursery. With such data, doctors can come up with algorithms that can make predictions of sickness or infections a day or two before the physical symptoms occur.
Courtesy of technological innovations, the way we purchase and sell different items is changing very fast. Business enterprises in the retail industry are embracing a data-first strategy in the way they treat their consumers. With such information, retailers can make informed decisions and adjust their operations for a better consumer brand experience. Data analytics has found utility in all stages of the retail process by identifying patterns and trends in consumer tastes and preferences. Big data has also been critical in helping retailers identify the locality where a specific product will have the highest demand and when. With such information, businesses will adjust to improve customer shopping experience. Consequently, this will drive higher sales volume, wider profit margins and a better return on investment.
In the modern manufacturing industry, big data plays a very critical role. The face of manufacturing is experiencing a change of face because of increased levels of automation and the advent of artificial intelligence and robotics. For instance, Adidas is one of the big layers in the manufacturing business that invests heavily in automation of their processes. Big data is still making a significant mark even in the traditional manufacturing industries. Manufacturers can collect valuable data by installing sensors into their factory equipment. Such data is critical in the analysis of the efficiency and general health of such machines.