Big Data has been a buzzword for years but it's still virgin territory for most companies in the Czech Republic. How can your business benefit from this platform? The most talked about projects concern:
Advanced Analytics is used for a variety of tasks focusing on understanding situations and discovering interesting relations. As the name suggests, it is an advanced data analysis using statistics, machine learning and the analysis of huge amounts of data. To explain historical data, a descriptive task supported with visualization techniques is sufficient. In case we need to understand why some events occurred, diagnostic techniques and monitoring are used. These approaches allow us to predict future developments. The reliability of predictive algorithms increases as the volume of data available to algorithms increases. This is where Big Data technologies such as Hadoop come into play as they process high volumes of data at a reasonable price and in reasonable time.
Advanced analytics can help in:
The banking and insurance industries
Text processing will enable you to obtain and get the most out of new information from text records to help you understand how your customers feel, what they are thinking about and what they are talking about. When you understand your customers better, you can streamline the work of your employees, improve your services and processes, and keep you a step ahead of your competition.
You can use text analytics when:
What was the stuff of science fiction a few years ago is reality today: controlling things remotely via the Internet. IoT is a whole lot more than switching the lights off or controlling the heat. Technologies have progressed so much that we can create a complete, fully automated control system.
You are probably not surprised that sensors in IoT devices often generate huge amounts of unstructured data. The costs of storing and processing such data cannot exceed its value. Real-time processing is crucial for geolocation data.
Big Data technologies and platforms for flow data analysis(Streaming Analytics Platforms) excel in these particular areas.
The Internet of Things can be used in: