Dear friend

Greetings.

There are enormous application of BIG data analytic in the current industry.

First, the entire IT industry depends on the processing of the data that it generates every day in terms of millions of tera bytes of data.

Mining the huge amount of the data  is a real challenge in the current context. The algorithms that works on the small set of data may not work on the large sized data. 

As a result there is huge economic prospects in this direction.

Second, development of the new algorithms for big data analytic is also another key areas of research. Many researchers are working in this direction.

Huge amount of dollars are spent for the research work in this direction. 

Third, The upcoming IT industry shall largely depends on the processing of the big data.

Most companies are simply generating revenue for providing training and conducting courses on the big data analytic s.

There are several other things to share.

I hope this helps you. 

Best regards

Dr.Indrajit Mandal

Watch this video from Australian Broadcasting Corporation (ABC): 

https://www.youtube.com/watch?v=f2Kji24833Y

It gives a lot of insight on applications of data mining and big data.

Dear friend

Greetings.

There are enormous application of BIG data analytic in the current industry.

First, the entire IT industry depends on the processing of the data that it generates every day in terms of millions of tera bytes of data.

Mining the huge amount of the data  is a real challenge in the current context. The algorithms that works on the small set of data may not work on the large sized data. 

As a result there is huge economic prospects in this direction.

Second, development of the new algorithms for big data analytic is also another key areas of research. Many researchers are working in this direction.

Huge amount of dollars are spent for the research work in this direction. 

Third, The upcoming IT industry shall largely depends on the processing of the big data.

Most companies are simply generating revenue for providing training and conducting courses on the big data analytic s.

There are several other things to share.

I hope this helps you. 

Best regards

Dr.Indrajit Mandal

The Industrial Internet is projected to be worth $500B in worldwide spending by 2020, taking into account hardware, software and services sales according to Wikibon and previously published research from General Electric. This finding and others can be found on the home page of the Accenture and GE study here: How the Industrial Internet is Changing the Competitive Landscape of Industries.

The study also shows that many enterprises are investing the majority of their time in analysis (36%) and just 13% are using Big Data analytics to predict outcomes, and only 16% using their analytics applications to optimize processes and strategies. Moving beyond analysis to predictive analytics and optimization is the upside potential the majority of the C-level respondents see as essential to staying competitive in their industries in the future.

http://www.forbes.com/sites/louiscolumbus/2014/10/19/84-of-enterprises-see-big-data-analytics-changing-their-industries-competitive-landscapes-in-the-next-year/

Dear @Sundar, Big data = Big Return on Investment (ROI)! IBM story follows!

"87% of enterprises believe Big Data analytics will redefine the competitive landscape of their industries within the next three years. 89% believe that companies that do not adopt a Big Data analytics strategy in the next year risk losing market share and momentum..."

SAP story: Evolve your company with Big Data applications that offer real-time, 360-degree insight!

http://www-01.ibm.com/software/data/bigdata/industry.html

http://www.enterpriseirregulars.com/80823/84-enterprises-see-big-data-analytics-changing-industries-competitive-landscapes-next-year/

http://www.sap.com/solution/big-data/software/applications.html

Let me add the High FrequencyTrading projects, that already run in real time very close to each big stock exchange.

The following report by IBM deals with the industry applications of big data analysis. Big data in action: What types of business problems can a big data platform help you address? There are multiple uses for big data in every industry – from analyzing larger volumes of data than was previously possible to drive more precise answers, to analyzing data in motion to capture opportunities that were previously lost. A big data platform will enable your organization to tackle complex problems that previously could not be solved. Read more at the page:

http://www-01.ibm.com/software/data/bigdata/industry.html

Personally, I fail to see any worth in Big Data. It's all more of the same, virially, for one could arrive at much the same conclusion provided by Big Data from smaller sets, or just as easily, from intuition. I think Big Data is an attempt by industry to monetize what is essentially completely useless data, such as Facebook. Does the tripe puked out on social media provide any true or real insight into the world of man? I mean what ever you think you may derive from such analysis one could just as easily imagine the same, without all the computation and costs, of course. 

That's the real issue today, how to monetize the internet. In all truth, the internet provides zero value-added worth to anything in our lives. Sure, we muse our thoughts on social media, much as I am doing right now, but so what, what value lay in the writings we all share on this venue. Is IBM going to fish through all the postings on RG and come up with some kind of media advertisement project that would somehow capture all our imaginations and undying attention... I really think not.

No, Big Data is just another excuse to charge people money, all the while, hiding behind the magic of computation and supercomputers. In fact, the dot.com bust earlier this century is a true indicator of the inherent worth of all these billions of websites, postings, blogs, &c.

Some of the use cases for Big Data Analytics specifically for IT service delivery include:

1) IT staffing & resourcing

2) IT service level & problem management

3) IT governance & risk management

Detailed explanation of the above can be found in this published article:

https://www.researchgate.net/publication/236863297_Using_Big_Data_Analytics_in_Information_Technology_%28IT%29_Service_Delivery

Article Using Big Data Analytics in Information Technology (IT) Serv...

Dear friend, 

I can give you one example of an innovative application of analytics on unstructured big data in which I was personally involved with my company InfoCodex. The pharmaceutical giant Merck, together with Thomson Reuters, in an effort to explore if scientific discovery can actually be driven by artificial intelligence, set us the task of discovering novel biomarkers/phenotypes for diabetes and obesity by pure text mining of very large quantities of biomedical research papers. The experiment was very successful, you can read my BMC Bioninformatics paper on my profile on this site. 

Big data is an interesting one, and I'll come on to some of the industry applications I've come across. Firstly though, is my view is that we've always had large amounts of data, its just now it is more accessible and more easily generated.

So, a couple of industry applications....

* Object Orientated Data -> There is a very large amount of Linked Open Data (LOD) available in the Semantic Web frameworks, just look at the LOD Cloud ( http://lod-cloud.net/ ). With a push towards transparency in both government (and the public sector) and the private sector, more and more of this data will need to be stored and analysed. The EU funded LOD2 project ( http://lod2.eu/ ) helped to get this data released in machine-friendly format (I was one of the many people that worked on it), but there is still much to do to get the general public knowledgeable of the insights that such data provides. It could also shape future policy in governments, and future decisions in business.

* Spatio-temporal data -> We (as academics in general) are toying with a lot more parallel sensor systems, these could be in part of "Smart City" systems, or in wearable technology for healthcare, or in physical security systems. The business world is only at the very beginning of trying to commercialise these systems, so it'll be interesting to see which direction that goes in.

* Artificial intelligence -> Artificial Intelligence, in particular AI that solves general problems (aka "Artificial General Intelligence") will either need to learn via perceptions or learn from existing data, or preferably both. There is a reasonable amount of work being done on this, and also the risks associated with it - which is why we have heard a lot from big names such as Elon Musk and Stephen Hawking and the risks associated with AI agents becoming more intelligent than humans. However, there are benefits for the world - I'd like to say preferably for the public sector, but no doubt it'll probably hit the private sector first.

I hope this answers your question adequately :-)

Dear: Vaidyanathan 

I think "One that requires having strategies in place for managing large volumes of both structured and unstructured data. And with the reality of big data comes the challenge of analyzing it in a way that brings real business value".

*Hengky

WordStat can be used for big text data: http://provalisresearch.com/products/content-analysis-software/

Hello there,

In my opinion, we should consider the foundation of these practices you said. All of these methods are based on data analysis and surely they are used for knowledge discovering. For example, association rules discovery for improving sales of a department store or classification for direct marketing and so on. However, data analysis like any other science have been changed and improved.

      Nowadays, with the growth of the AI and Machine Learning techniques (algorithms), most researchers prefer to apply intelligent methods for data analyzing (even statisticians have accepted that). Since, the cornerstone of data mining is based on  Pattern Recognition, Statistics, Machine Learning, AI, Data Base systems and as can clearly be seen from these examples; Data Mining will cover all of these expectations. 

Regards,

Saeed

Dear all,

Operating online control of new data using "old" models. Creating more adequate models based on new data + intuition. Interactive control of industrial processes using all relevant data (may be wrong data and unexpected results of Data Mining). Industrial "games". 

Here are some fresh examples of  the industry applications of big data analytics! The first example is case of parking industry! " ...use of big data, analytics and the cloud, to help parking managers maximize pricing and availability based on usage patterns and other factors that could affect demand like weather, flight schedules and special events."

The second example is related to Emerging Digital Oilfield Operations!

http://techcrunch.com/2015/01/31/smarking-drives-big-data-to-parking-industry/

http://www.marketwatch.com/story/big-data-and-analytics-to-drive-real-time-intelligence-from-field-to-enterprise-in-emerging-digital-oilfield-operations-2015-02-24-8203112

Sundarapandian,

This is a great question, and I can see that you are on the cutting edge of business... most Big Data in business is focused on 'new leads' which adds to marketing efforts.  Additionally (coming from a sales background I have experience with this), far far fewer people are focused on the *MUCH* more lucrative of CRM Cleanup.  If you would like to know more, send me a message and I can share with you more.

Paul