Benefits and applications of Big Data

3 min reading
Benefits and applications of Big Data
Benefits and applications of Big Data


The consultants Mckinsey highlight the four ways Big Data can generate value for any industry:

report on Big Data by Mongo DB also includes some other uses:

The use of Big Data in various specific sectors

Big Data has benefited different industries in a range of ways, although there are still endless possibilities to explore. When Big Data is combined with the Internet of Things (loT), it undoubtedly opens up a wide array of opportunities for decision-making.

Below are several examples of sectors in which Big Data can contribute by generating value:

In the area of education, Big Data analysis can:

In the healthcare sector, the effective management of data allows the analysis and discovery of new options for improving patient care.

In the retail sector, companies can collect a range of information on their customers to come up with effective ways of managing transactions or improving customer relations and ensuring user satisfaction, among other benefits.

The banking sector is currently looking for new and innovative ways to manage the vast amount of information, while seeking to minimize risk and fraud.

In one hour, 60 million transactions take place on two billion cards in 220 countries and territories through 40 million businesses

Banks possess very valuable data on user behavior. Payment cards and bank accounts provide a wide array of data on consumers and businesses. BBVA’s APIs offer you access to this anonymous information so you can draw conclusions to benefit your business.

Big Data can also improve our daily lives

Although Big Data offers substantial utilities for corporations, there are also benefits for medium-sized and small companies. It is not necessary to hire large groups of experts, as many companies offer customized data analysis services.

Leaving aside the business world, the management of large volumes of data is not only useful for companies, but brings a new perspective for understanding and resolving the problems of society, the environment, natural disasters and urban planning, among others.

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