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Why Do Companies Use Big Data?

1494 Words6 Pages

The health care industry can and will benefit greatly from big data. As health care professionals look for ways to reduce disease, treat patients, and lower costs, big data will be heavily used to bridge the gaps. Doctors all around the world will be able to enter endless amounts of data and in return, big data can provide valuable statistical information on specific ailments and what factors contributed to development. Once you factor that in with a specific patient, a doctor will be able to make better decisions for the patient and possibly avoid costly medication, procedures, or even the wrong diagnosis (5 ways companies are using big data, 2014). Big data has many advantages. One advantage is the ability to recognize errors and correct them quickly. Not only can it correct them quickly, errors can be prevented in the future. Another advantage is real time fraud detection. It comes down to speed and big data can quickly detect fraud and send alerts so that measures can be taken in real time. Big data can be used to create strategies to deal with your competitors. Big data can analyze your completion and provide a picture of what they are doing in areas like product release, price changes, and location targeting. Big data can analyze customer trends in real time and can look at many areas including advertisements, …show more content…

Machine learning is similar to artificial intelligence and could provide businesses with an incredible tool for producing usable reports and information. IBM is currently developing open Watson and a company called Adatao just received $13 million in funding for development from Andreessen Horowitz. The goal is to provide simple real time querying of large data sets. Adatao also wants to provide the capability to collaborate on available documents that have charts that come from huge data sets (Paul,

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