When processing complex or large data, traditional data processing application software proves inadequate. That is why we have the big data option currently. Various organizations that deal with complex data employ big data in their enterprises, which in turn helps them deal with storage, search, querying, visualization, analysis, data creation, and information privacy challenges, efficiently and accurately.
Being a multi-billion industry, it is imperative to understand who is using Big data, data is applications, and what are they achieving through this approach. The following are real life applications of big data.
Tip24 AG is a platform for placing prediction and bets for European lotteries. Gambling is popular the world over and as a result, Tip24 AG handles billions of data every single day. As such, the company has employed KXEN software to analyze billions of transactions and to develop predictive models, as well as personalize marketing messages. KXEN significantly reduced the time it takes to build predictive models by a whopping 90%. This breakthrough is a significant move to fill the predictive analytics gap, which is part of their previous challenges.
Tesco PLC being a supermarket chain needs to correctly determine when a machine needs servicing. From its units, Tesco PLC collects more than 70 million refrigerator-related data points’ details and feeds them to a dedicated warehouse. What follows is an analysis of the data to discover an appropriate time for servicing. That promotes proactive maintenance, which reduces energy costs significantly.
Experts look for indicators that predict loyalty and developed top-notch predictive models, for analyzing historical transactions, as they forecast on potential churn. American Express now believes that within a span of 4 months, they can identify 24% of accounts that will close in the near future using the technology. Talk to us now for more details.