Big Data is progressively more being used by well-known
companies to outpace the competition. Be it recognized companies or start-ups;
they are embracing data-focused plans and strategies to outpace the
competition.
In healthcare, clinical data can be reviewed
treatment decisions based on big data algorithms that work on aggregate
individual data sets to detect nuances in subpopulations that are so rare that
they are not readily apparent in small samples.
Banking and retail have been early adopters of Big
Data-based strategies. Increasingly, other industries are utilizing Big Data
like that from sensors embedded in their products to determine how they are
actually used in the real world.
Big Data is useful not just for its scale but also
for its real-time and high-frequency nature that enables real-time testing of
business strategies. While creating new growth opportunities for existing
companies, it is also creating entirely new categories of companies that
capture and analyze industry data about products and services, buyers and
suppliers, consumer preferences and intent.
Disclaimer: The
information contained has been collected from news/articles
appeared in various newspapers and other publications. Megasoft Solutions India
Pvt. Ltd. makes no warranties as to the accuracy or authenticity or
completeness of the information.
