Big Data has become a highly effective tool for businesses around the world and across just about every industry. Companies are using available data to analyze their performance, gain deeper insight into their customers’ needs and preferences, identify and address inefficiencies and ultimately improve their bottom lines. But Big Data is much more than just a tool for corporations. Let’s take a look at how it’s already being used to make the lives of everyday consumers better and benefiting us in some pretty unexpected and significant ways.
Health and Wellness
If you wear a fitness tracker, you’re already using data to learn more about your health and wellness. These gadgets gather and track raw data, such as how much we move throughout the day, what our vital signs are at any given point and even how much restful sleep we’re getting. That data is then turned into insights that help us develop healthier habits and improve our self-care. On a grander scale, the healthcare industry is leveraging Big Data to better understand and improve patient care.
Product Cost and Availability
Ever do a search online to compare products or find the best price? It’s Big Data that’s driving those results and making it easier for consumers to locate the products they want when they need them and at a price that suits their budget. Automated services can scour the web on our behalf, aggregating lists of products, generating comprehensive comparisons and ultimately helping us make more informed purchasing decisions.
Better Products and Services
Remember – most companies today are using Big Data to better understand their customers. That means that we as consumers are benefiting from the improved products and services we are purchasing. Businesses are also leveraging data to assess customer needs, preferences and behaviors so that they can offer more relevant, personalized offers. When you receive coupons for the items you’re most interested in, you’re experiencing Big Data in action.
Improved Travel and Transportation
Just as with product searches, Big Data is making it easier for consumers to locate better deals on travel packages as well. With many travel sites now offering complete trip planning, including flights, hotels, rental cars and even planned entertainment, having a huge bank of data to draw from is critical. Similarly, data is also being used to help people get from point A to point B, with intuitive GPS navigation systems. On a larger scale, city planners and public transit departments are using data to improve the efficiency of traffic routes and make commuting easier.
Access to tons of relevant data can also help consumers who are in the market to purchase a home. By analyzing the data from certain neighborhoods and regions, prospective buyers can gain valuable insight into the advantages and disadvantages of buying a home in a particular area. Some information may even help buyers to predict how much a certain home might appreciate over time.
As you can see, Big Data is already impacting our lives in a number of positive ways. And with better access and enhanced technology, these benefits will only continue to increase.
What do you think? Please share your thoughts on Big Data in the comments section and let’s discuss!