The world has too much data; roughly 2.5 quintillion bytes of data are added in a day. There is a lot that can be done with this amount of data while it is the sheer amount of data which poses the biggest challenge. The way the world of commerce works today is essentially reliant on data and its proper analysis. We cannot just look the other way and let things be as they are. Big data analytics was definitely the first step towards integrating and materializing data. Now, Big data is running its course and now the process of data analytics needs allies like Artificial Intelligence, powered by Machine learning. While with the number of electronic devices and connected equipments growing at a phenomenal speed, the generated data poses a serious problem – this data is being used for the better.
Let us look at the various sectors that have been redefined by the use of Big data machine learning.
E-Commerce undoubtedly tops the list of the industries which have really been successful in leveraging the data explosion. When we look around, we see a world which was quite beyond imagination. The e-commerce sites are literally battling each other to reach your doorstep. The manufacturers know that it is the way to reach the customers, good for us we do not even have to pay the delivery charges in most cases.
But have you noticed how they promote themselves and the products they are delivering? You merely express your good opinion about a product in the social media and you have ads of similar products lining up in your news feed. Marketing has become increasingly personal. There are no more consumer pools to lure in; there are individual consumers – each with different needs and different potentiality. They have been able to reach us by churning through terabytes of unstructured, textual, financial data with the help of machine learning algorithms.
Logistics industry has found a stronger ground to tread upon. Without the logistics functioning smoothly any retail or manufacturing industry cannot work in harmony. It is the giant moving circle that keeps delivering the needful with clockwork precision. Are not there any shortcomings? There are and they cost a lot of money and can destroy your reputation. Here comes predictive analysis powered by machine learning.
Each product that is delivered is embedded with information. While the product travels through the road, water or air, information is created – each product getting stuck creates data, each misguided transport creates vital information. This information if processed and used for predictive analysis, the shortfalls may be evaded.
The entertainment industry has digitized most of itself. The consumer reaches out to the channels in order to be entertained. Now, this is a double edged sword for the media channels. Since the consumer has to reach the channel, it has complete autonomy and acts upon will. You can only survive with personalized marketing and top quality content.
Each show that runs on Amazon or Netflix has to cater to the choices of a large number of people. At the same time the channels need to know their viewers on an individual level in order to create the perfect marketing pitch. This is where millions of gigabytes of data come into play. Capturing and leveraging the data makes you rich. Not all the internet-based media platforms are having a good time. Amazon has enjoyed record profit last year while Netflix has seen a 20% decrease in the viewership.
Healthcare analytics is having a day in the sun. It is in demand and recruiting vigorously. Both in the care giving and the business ends of the healthcare sectors are heavily influenced by data analytics. Big data machine learning has made it easier for healthcare units to assess a situation and act in order. Care giving is revolutionized with the help of AI and predictive analysis.
Businesses all over the world are integrating big data analytics in their respective systems. Big data adoption has reached 53% in 2017 from 15% in 2015. The change is definitely drastic and we may rest assured it will be continuous. Machine learning skills have come to be one of the most coveted skills in the big data paradigm. The industry needs more personnel with a skill set combining machine learning and big data expertise. The job market is stretched for talent, if you are interested in joining the ride, now would be a good time.
