Research in life science is slow paced and expensive, with trial fails because of numerous reasons, advanced analytics, artificial intelligence (AI) and the Internet of Medical Things (IoMT) provides the platform for improvement in efficiency and speed at every stage of research by delivering ntelligent and automated solutions.
Financial institutions gather and access analytical insight from large volumes of unstructured data in order to make sound financial decisions. Big data analytics allows them to access the information they need when they need it, by eliminating overlapping, redundant tools and systems.
Big data is very important for the health care industry. Patient records, health plans, insurance information and other types of information can be difficult to manage, but are full of key insights once analytics are applied. That’s why big data analytics technology is so relevant to heath care. By analyzing large amounts of information both unstructured and structured quickly, health care providers can provide lifesaving diagnoses or treatment options almost immediately.
For manufacturers, solving problems is nothing new. The difficulties which they face, ranging from complex supply chains, to motion applications, to labor constraints and equipment breakdowns. Hence big data analytics is vital for the manufacturing industry, as it has allowed competitive organizations to discover new cost saving opportunities and revenue opportunities.
Armed with endless amounts of data from customer loyalty programs, buying habits and other sources, retailers not only have an in-depth understanding of their customers, they can also predict trends, recommend new products and boost profitability.
Government agencies face a big challenge: Utilising the alloted budget without compromising quality or productivity. This is can be witnessed with law enforcement agencies, which are struggling to keep crime rates down with relatively scarce resources. And that is the reason many agencies use big data analytic. The technology streamlines operations while giving the agency a more holistic view of criminal activity.