Chapter 12: Business

Applications of Big Data

 Chapter Index
S. No. Reference Particulars Slide
No. From - To

1 Learning Objectives 4

2 Topic 1 Use of Big Data in Social 5

Networking

3 Topic 2 Use of Big Data in Preve 6-7

nting Fraudulent Activitie
s

4 Topic 3 Use of Big Data in Banki 8

ng and Finance

5 Topic 4 Big Data in Healthcare In 9

dustry
 Chapter Index
S. No. Reference Particulars Slide
No. From - To

6 Topic 5 Big Data in Entertainme 10

nt Industry

7 Topic 6 Use of Big Data in Retail 11

Industry

8 Topic 7 Use of Big Data in Educa 13

tion

9 Let’s Sum Up 14
 Learning Objectives

 Explain how Big Data is used in social networking

 Explain how Big Data is used in preventing fraudulent

activities

 Explain how Big Data is used in detecting fraudulent

activities in insurance sector

 Explain how Big Data is used in other industries

 1. Use of Big Data in Social
Networking

 Social network data refers to the data generated from people

socializing on social media.
 Some popular social networking sites are Twitter, Facebook, and
LinkedIn. These social networking sites are also called social
media.
 On a social networking site, different people constantly adding
and updating comments, statuses, preferences, etc. All these
activities generate large amounts of data. Analyzing and mining
such large volumes of data show business trends with respect to
wants and preferences and likes and dislikes of a wide audience.
 Social Network Analysis (SNA) is the analysis performed on the
data obtained from social media.
 2. Use of Big Data in Preventing
Fraudulent Activities

 A fraud can be defined as the false representation of facts,

leading to concealment or distortion of the truth.
 Frauds can be committed by both words and conduct and are
intended to deceive the other party, generally to gain an
advantage over it in some manner.
 Frauds that occur frequently in financial institutions, such as
banks and insurance and healthcare companies, or involve any
type of monetary transactions, such as in the retail industry,
are called financial frauds.
 Some of the most common types of financial frauds are credit
card fraud, Exchange or return policy fraud and Personal
information fraud.
 2. Use of Big Data in Preventing
Fraudulent Activities
Preventing Fraud using Big Data Analytics

 Analyzing Big Data allows organizations to:

 Keep a track of and process huge volumes of data
 €€Identify new methods of fraud and add them to the list of
fraud- prevention checks
 €€Verify whether a product has actually been delivered to
the valid recipient
 €€Determine the location of the customer and the time
when the product was actually delivered
 €€Check the listings of popular retail sites, such as e-Bay, to
find whether the product is up for sale somewhere else
 3. Use of Big Data in Banking and
Finance
 Some of the key areas on which banks and other financial
institutes focus using Big Data analytics are as follows:
1. Optimizing business operations: Big Data technology
fuels the effectiveness of system response, prediction capacity
and accuracy of risk models and coverage for extensive risk.
2. Employee performance measurement: This is one of
the potential uses of Big Data analytics which can provide the
performance index of the employees of an organization.
3. Fraud identification: Big Data helps in analyzing the
occurrences, types and addresses of unauthorized accesses
from the banks records.
 4. Big Data in Healthcare Industry

 Healthcare industry might be a late entrant in the Big Data

analytics domain but its moving with fast pace to discover the
capabilities of Big Data.
 Hospitals and other businesses related to healthcare
industries have realized the importance of digitized record
keeping of huge data that is being captured by them.
 Introduction of health gadgets like smart watch, glasses and
other IoT based sophisticated technologies, has made it
possible to quantify and analyze vital data created and
submitted, which can be utilized in many ways.
 A virtual human body map can be created using sensors and
scanners which can accelerate research in human anatomy.
5. Big Data in Entertainment Industry

There are many ways in which entertainment and media industry

can benefit from Big Data analytics and its application. Some of
them are as follows:
1. Predictive analysis is one of the key properties of Big Data
analytics and that can be applied in entertainment industry to
find what consumers want.
2. Using the subscriber and view counts on a given product,
media companies can strategize about their products and
content promotion to attract customers and retain them.
3. Entertainment industry can also utilize Big Data to generate
other sources of revenue by suggesting new ways to attract
customers.
 6. Use of Big Data in Retail Industry

 Big Data has huge potential for the retail industry as well.
Considering the immense number of transactions and their
correlation, the retail industry offers a promising space for
Big Data to operate.
 Seemingly simple questions, are easy to answer when there
is a single retail location and a small customer base:
 How many basic tees did we sell today?
 €€What time of the year do we sell most leggings?
 €€What else has customer X bought, and what kind of
coupons can we send to customer X?
 6. Use of Big Data in Retail Industry

Use of RFID Data in Retail

 The introduction of Radio Frequency Identification (RFID)
technology automated the process of labeling and tracking of
products, thereby saving significant time, cost, and effort.
 The RFID technology helps better item tracking by differentiating
the items that are out of stock and that are available on shelves.
 With the help of an RFID reader and a mobile computer, the
inventory can be immediately verified and stocks replenished, if
required.
 The use of RFIDs saves time, reduces labor, enhances the
visibility of products throughout the production-delivery cycle,
and saves costs.
 7. Use of Big Data in Education

 The use of Big Data in education sector is as follows:

 Improving student’s performance: Big Data can
keep the track of various student-related activities such
as which books are being referred, how many problems
have been skipped, and many others.
 Customized courses: Each student has his/her own
interest of subjects. Using Big Data in educational
institutions can create customized courses or programs
as per the student’s choice.
 Decreasing dropouts: Dropout rates will be lowered
when a student will be tracked for different activities and
is provided with instant feedback.
 Let’s Sum Up

 Social network data refers to the data generated from people

socializing on social media.
 Social Network Analysis (SNA) is the analysis performed on the
data obtained from social media. As the data generated is
huge in volume, it results in the formation of a Big Data pool.
 A fraud can be defined as the false representation of facts,
leading to concealment or distortion of the truth.
 The RFID technology helps better item tracking by
differentiating the items that are out of stock and that are
available on shelves.
 Hospitals and other businesses related to healthcare industries
have realized the importance of digitized record keeping of
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