BDA plays vital role in different organizations to solve their business problems. So the successful implementation of perfect and accurate big data analytics solution in the specified organization depends on understanding the business problem. Validating the business use case for big data according to the technology available is the next step of the design phase.
By understanding and Validating business use cases gives organizations a solution approach to solve their business problems in an effective way. The solution approach to solve business problem varies from one industry to another in terms of some key measurable parameters. BDA can help market in terms of predicting different trends and in turn it helps different markets to improve their market efficiencies.
The Industries such as Telecom, Retail, Finance, Healthcare, Banking, Energy and Automobile Sectors widely use big data and its analytics and getting benefit in the current global market. Data volumes and data generation speed are significantly higher than it was before. All this new kind of data require a new set of technology to store, process and to make sense of data.
Predictive analytics improve fraud detection and speeds up claims processing. As a result of these, analytics gives more effective marketing, better customer service and new revenue generating opportunities in different industrial domains.
Domain: Retail/Consumer Use Cases
The trends in Retail marketing in the past decade are really acknowledgeable if we observe the recent market status. The amount of data that is being generated daily increasing with the growth of the retail field. We use big data analytics widely, especially while dealing with market and consumer segmentations. The below are some of the use cases that come under retail domain.
- Merchandizing and market basket analysis
- Event and behavior based targeting
Domain: Financial Services Use Cases
Risk analysis and management is a very important task to deal with in financial services. While dealing with the credit risk, scoring and analysis in the banking sector. We use BDA with advanced risk prediction algorithms. The below are some of the use cases in financial services
- Customer Relationship Management and customer loyalty programs
- Trade surveillance patterns
- Risk analysis, management
Domain:-Web & Digital Media Services Use Cases
The data mostly generated through the web and digital media services. The following are some of typical industrial use cases related to web and digital media services.
- Large-scale click stream analytics
- Ad targeting, analysis, forecasting and optimization
- Abuse and click-fraud prevention
- Social graph analysis and profile segmentation
- Streaming based online analytics
Domain: - Health & Life Sciences Use Cases
The above figure gives some of the use cases related to health and life sciences. Especially while dealing with disease pattern analysis using BDA. We are able to find out the different relations between patterns by using advanced statistical models. In the field of health, the use cases and its coverage play a vital role in determining better life standards.
Drug discovery and development is very important for the new inventions of drugs. For observing the drug combinations we need to perform some advanced algorithms on the existed drug models.
Before drug coming in to market it will undergo several phases of clinical trials. In this process, large amount of data and multiple phases of patterns will involve. To handle this type of situation, BDA provides a complete platform for efficient processing and to give better results. These are some of use cases in this field
- Campaign and sales program optimization
- Patient care quality and program analysis
- Medical device and pharmacy supply-chain management
Domain: Telecommunications Use Cases
Telecommunications is one of important domain that we can perform BDA and we can get efficient results. The amount of data dealing with this domain is in terms of beta bytes and in turn it’s more of real time data. Being processing, real time data and getting meaning full results from those data in less amount of time gives better results.
There are different enterprise edition big data providers in the market who is giving better and enhanced accelerators for specific to telecommunication domain. For example, IBM based Infosphere streams which are purely dealing with real time data and analytics in the telecom industry by providing best big data based solution. Infosphere streams using accelerator tool specific to telecom industry are TEDA.
The data will be unstructured. The call detail record (CDR) data will be generated continuously. By loading real time streaming data into the Hadoop file system, performing analytics during real time and giving results back to the client are the different phases involve in the life cycle of CDR processing. The following are some of the Use cases which use BDA for its solution.
- Revenue assurance and price optimization
- Customer churn prevention
- Campaign management and customer loyalty
- Call detail record (CDR) analysis
- Network performance and optimization
- Mobile user location analysis
Domain: Government Organizations Use Cases
In government organizations BDA can apply into various domains. It not only processes the data, it will also provide security features. The following are some of the use cases in government organizations.
- Fraud detection in Finance related domains
- Threat detection in confidential data
- Cyber security in public domain
- Compliance and regulatory analysis
Domain: Fraud Use Cases
The following are some of the use cases relates to fraud in different domains.
- Credit and debit payment card fraud in banking industry
- Deposit account fraud during money deposits
- Technical fraud and bad debt during loan allocations by banks
- Healthcare fraud in medical industry
- Medicaid and Medicare fraud
- Property and casualty (P&C) insurance fraud
- Workers’ compensation fraud
Domain: E-Commerce and Customer Service Use-Cases
The E-Commerce domain the following use cases we use BDA to find a better solution for their problems.
- Cross-channel analytics for comparing different competitors
- Event analytics
- Recommendation engines using predictive analytics
- Right offer at the right time
- Next best offer or next best action
Domain: Mining Industry Use Cases
Processing peta bytes of streaming data and predicting the weather patterns based on statistical algorithms in a fraction of seconds may give the solution for identifying the potential risk analysis patterns. Here the weather prediction and disaster risk analysis engine provides the required solution for the use case. This is the best solution providing by the BDA to the Mining Industry for Disaster Risk Management.
Domain: New Application Use Cases
Social gaming development, deployment and maintenance involve phrases like high amounts of data generation, data processing and data storing. To handle huge amount of data that is generated by this social gaming apps, BDA gives the best standard solution. The type of data will be in the form of unstructured and semi structured.
So to store this type of data Nosql storages are best in practice and in integration with big data eco system it gives value addition to client.
Comparing to traditional methods and approaches, the Big Data is adding so many features to the present market trend in terms of sales, revenues. The Typical applications of these Big Data Analytics include weather predictions, Geospatial pattern recognition, Disaster management and Space Technology.