How big data is being used across industry verticals

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How Big Data is being used across industry verticalsPromptCloud.com

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Big Data refers to our ability to collect and make sense out of huge amounts of data that is ever-expanding and decoding it into meaningful information, and more importantly, actionable strategies.

Today companies are using Big Data technologies which are helping them to compete, innovate, optimize costs and enhance consumer experience.

Let’s have a look at how companies belonging to diverse industries are tapping into this emerging technology.


Big Data in Processes

United Parcel Service (UPS) stores 16 petabytes of data, most of which has been collected through GPS data and fuel-efficiency sensors installed in their trucks that help them keep a track of their speed, braking patterns, direction etc.This initiative has enabled UPS in determining the optimum routes and has led to avoiding 85 million miles which translates into fuel savings of 8.4 million gallons.


Big Data in People Analytics

People analytics is the science of using data to find out what makes people more productive, happy, responsive, distracted etc. With technology, all human actions have become track-able as usage data via sources such as web browsing behavior, cell phones, email and instant messaging records, RFID badges and other such systems.


Big Data in Fashion

Companies can gauge reactions to fashion designs by using customer reviews from e-commerce sites, blogs and other social media. Retailers and designers are also using data to determine the actual demand across various sizes which are helping them to optimize their quantities and minimize leftovers.


Big Data in Retail

In 1995 UK-based retail giant Tesco launched 'Clubcard' - a customer relationship tool that helped them know who their customers were and how they behaved - so that they could target them in a more personalized way. Today, Tesco uses data not only to understand its customers better and providing relevant benefit to induce their loyalty, but also to optimize their supply chain and costs.


Big Data in Recruitments

Open web talent search is an upcoming trend in Human Resources. Companies are using publicly available information about professionals to approach them for open positions, even if they are not looking for a change. Companies such as TalentBin are having such a setup at the base of their business strategy.


Big Data in Banks

A lot of large US banks are using Big Data to understand how customers use their various channels, such as online, mobile, physical banking, ATMs, call centers etc. For instance, Bank of America is using propensity models and transaction data to predict which customers are most likely to refinance their loans or credit cards from its competitors.


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How big data is being used across industry verticals