How do big data and analytics affect your life? Let me count a few ways:
- You get a call from your credit card issuer, asking about unusual activity on your account.
- Your cell phone bill contains an offer tailored to you and aimed at keeping you a customer.
- Your surgeon takes special precautions to minimize the risk of infection given your medical history.
- You read the expiration date on a prescription bottle.
Big data and analytics are part of the decision-making process that goes into each of those scenarios and hundreds more, as we describe in our white paper, “Big Data Analytics in Action.”
Use Cases for Big Data and Analytics
The paper covers real-world use cases from five different verticals:
- Marketing – Churn analysis helps companies find customers who are at risk of switching to another provider. Marketing teams can then entice them to stay through special offers or by addressing dissatisfaction.
- Finance – Predictive analytics play a role in assessing credit risk and detecting fraud, especially when they provide transparency for regulatory compliance.
- Healthcare – Providers use analytics to personalize care and improve patient outcomes, and large healthcare institutions monitor medical billing activity for potential fraud.
- Pharmaceuticals and food manufacturing – Product safety, quality and shelf life all rely on stability analysis and the ability to trace product shipments.
- Manufacturing – Real-time monitoring and alerts help manufacturers improve operations, increase yields and reduce costs.
Read the White Paper
The white paper also contains details about analytical producers and analytical consumers, and a series of tips to ensure success in your next analytics project.