28. January 2019 14:01
22. August 2018 05:07
Big data refers to the large expanse of information collected, consolidated and analyzed for specific purposes. Big data analysis is increasingly applied by various industries to derive meaningful information which can be used for interpretation of past actions and for future planning.
Big data analysis has particularly proven useful for healthcare sector. As a lot of patient and medical information is collected, big data analysis is being used to design strategies for providing patient centric care.
Following are some ways in which big data analytics can be immensely helpful to healthcare sector:
- Informed Strategic Planning
When large database of information is available it can be used to form meaningful inferences. For example, analysis of the collected data can help us figure out if people of a certain geographic area face a common medical problem. Necessary plans and strategies can be designed to curb the problem by identifying & solving root cause of the issue. Also, demographically it can be used to identify areas in need of access to extensive & additional health care services so that informed decisions can be taken on time.
Analysis of medical treatment response in specific cases can be used to understand effectiveness of a treatment and effect of surrounding circumstances on patient’s health. Pharma companies and medical establishments can use date analysis to come up with better and more effective medicines/ procedures.
- Identifying High Risk Patients
If all the hospitals are digitalized, big data can be used to understand a patients’ pattern. It can help hospitals identify high risk patients who visit the hospital repeatedly and offer patient centric care accordingly.
By analyzing the available data, hospitals can predict an average number of patients that shall visit a hospital. A report by Forbes explains the working of four hospitals in Paris that have been predicting patient admission rates from the admission records of past 10 years. This helps them reduce their costs by staffing as many people as required for taking care of patients. Also it reduces wait time for patients as the hospital makes necessary arrangements of beds, facilities and staff based on the insights gathered from data.
Thus, healthcare sector can leverage huge advantage of big data analytics if it is used effectively & efficiently. For more information on how big data analysis can help your business, contact Centex Technologies at (972) 375 - 9654.
29. April 2018 22:50
Data has a huge potential if the right value is derived from it. Big data is the voluminous repository of data which is used to form inferences. It is a relatively new concept.
It is a wide field and encompasses a number of terms in itself. Here we have listed certain terms which are used in tandem with big data that one must know to gain a detailed insight over this subject of study.
- Algorithm – It refers to a mathematical formula that is generally used to analyze data. It is usually run by a software.
- Data Lake – Huge source of information in its raw form is known as Data Lake. This information is used to form inferences.
- Data Mining – The process of delving into available information to derive meaningful insights is known as data mining. Experts use a variety of statistical techniques, machine learning algorithms, sophisticated software’s meant for data analysis to generate significant conclusions.
- Distributed File System – It is not possible to store large volume of data on a single system as it is complex, costly and infeasible. So, it is generally stored across various storage devices. This mechanism of storing data on multiple devices is known as distributed file system.
- ETL – It is an acronym which means extract, transform & load. It is a three step process which is used while ingesting information over big data systems in a structured manner. First of all, raw data is extracted, then it is converted into a meaningful form. Finally, it is loaded onto the system for use.
- Hadoop – It is a programming framework. Hadoop enables storage and processing of huge chunks of data.
- Data Scientist – They are people who are experts in analyzing data and are well versed with science, statistics, mathematics and other data analysis techniques.
- Data Cleansing - There might be certain sets of information which are incorrect. Data cleaning is the process of removing incorrect or irrelevant information from the database. This is done to maintain the quality of data as it is further used for analysis.
- Dark Data – This is that kind of data which is there in the company’s data repository but has never been put to use.
- NoSQL- It is a database system which means ‘Not Only SQL’. It is designed to handle large volumes of unstructured data without any schema.
- IoT – Internet of Things is the growing trend these days. Since so many devices are connected to the network, large amount of data is collected through them which can be used for further analysis.
To know more about big data, contact Centex Technologies at (972) 375 - 9654.
24. April 2018 22:42
With the recent advancements in technology, data analysis has entered a new phase in which large amount of data can be harvested and processed. Big data analytics refers to the process of examining this data set to uncover existing patterns, trends, demands and correlations between various factors, which further helps to make informed business decisions. For instance, Netflix uses big data analytics to improve its video streaming services and improve user experience.
Big data is basically characterized by 3Vs i.e. Volume, Variety and Velocity.
- Volume: Different Machine-to-Machine and Human-to-Machine communications result in large amount data, which need to be analyzed to extract useful information.
- Variety: All the data that is generated is of the unstructured nature. It needs to be processed, curated and annotated to bring out important piece of information or facts from it.
- Velocity: Large chunk of data is being generated every second and needs to be processed. Therefore, there is need for tools that can handle the flow of this data and produce required results.
Why It Matters?
Big data analytics can provide valuable business intelligence by harnessing the company data and use it to identify new opportunities. This helps the company to make smart decisions, increase profits and most importantly, satisfy the customers. Few of the advantages of big data analytics are as follows:
- Big data analytics frameworks like Hadoop have started to bring significant cost reduction when it comes to storing huge amount of data.
- The ability to analyze new data can help the companies to break down every bit of information into something useful and make decisions based on the results.
- Big data analytics is important for firms that have a large amount of data flowing every second. The analysis can provide useful information from that data and in turn, gives them a competitive edge over others.
Some of the industries that benefit from big data analytics are:
- Public Sector Services
- Learning Services
- Insurance Services
- Industrialized and Natural Resources
- Transportation Services
- Banking Sectors and Fraud Detection
If used wisely, the analytic tools can help to make predictions and explain the entire growth pattern of your business. For more information about the importance of big data analytics, contact Centex Technologies at (972) 375 – 9654.