The big data analytics market is growing at a significant growth rate, as the big data companies are making a more informative decision by analysing big data more efficiently. Big data include web server logs, social media content and activity reports, text from customer emails, mobile phone call details, machine data captured by multiple sensors and internet clickstream data. Organizations from different domains are investing heavily in big data applications to keep up with the market trends and to predict customer preferences.
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Based on end-users, the big data analytics market is segmented into aerospace and defence, automotive, BFSI, healthcare, government, manufacturing, and others. Healthcare industry is bound to generate a big amount of data. This big data in healthcare industry improve the patient care in many ways, such as it reduces costs of treatment by detecting disease at early stage, with which, the patients can be provided with evidence-based medicine by analysing the past medical history. In government sector, whether countries generate huge amount of data on daily basis. The proper study and analysis of this data assist government in their decision making and policymaking process.
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Big data has a very useful application in predicting weather patterns. There are weather sensors and satellites deployed across the globe that produces ample amount of data. This data collected is used to predict environmental conditions and weather. This big data collected from all the satellites are used for various applications such as to study global warming, to the patterns of natural disasters, to predict the availability of usable water across the globe and many more. One such example of big data analytics software is IBM Deep Thunder. It provides weather forecasting though high-performance cloud computing of big data. IBM is also assisting Tokyo to predict the damaged power lines across the region.
In BFSI, a large amount of data is produced, which demands its proper study and analysis. Here, the big data analytics techniques assist organizations in detecting ongoing illegal activities. The use of big data in BFSI support banks in several activities, such as venture credit hazard treatment, detecting misuse of credit or debit cards, business clarity, money laundering, risk mitigation, customer statistics alteration, and many more. Various anti-money laundering software is available in the market that uses big data analytics such as SAS AML. This software detects suspicious transactions by going through customer data.
Global Big Data Analytics Market- Segmentation
By Solution
- Content Analytics
- Customer Analytics
- Fraud and Risk Detection
- Predictive Maintenance
By Deployment
- On-Premise
- Cloud-Based
By End-User
- Aerospace & Defense
- Automotive
- BFSI
- Healthcare
- Government
- Manufacturing
- Others (Transportation and IT & Telecom)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
