The massive amount of today's electronic data is only useful if properly analyzed, generalized and subsequently applied to better understand the world, provide better customer service and increase revenue.
Predictive analysis is a method to discover new insights from Big Data by combining artificial intelligence, learning theory, linguistics, statistics and database technology and applying it to the organization at large.
Iotronics enables organizations to harness Big Data via predictive analysis and turn our findings into actionable and profitable insights. Our clients can profit from the potential of Big Data by employing our expertise to:
- Innovate by making them aware of how to take advantage of hidden opportunities
- Stay competitive by responding to unexpected challenges
- Increase productivity by implementing best practices
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In healthcare, picture a stream of data from equipment in a neonatal unit that might monitor the infants' temperature, blood pressure, and heart rate. "The amount of data coming from this equipment is enormous, and it would be hard for a person to process it all," she says. "However, big data solutions can capture the data and analyze it in order to determine, for example, if an infection might be cropping up in an infant -- so big data and big data analytics can be used to help care for premature infants, or anyone in a hospital."
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A flood of data is created every day by the interactions of billions of people using computers, GPS devices, cell phones, and medical devices. Concerted action is needed by governments, development organisations, and companies to ensure that this data helps the individuals and communities who create it.
Big Data, Big Impact: New Possibilities for International Development, World Economic Forum 2012
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What is Big Data? A meme and a marketing term, for sure, but also shorthand for advancing trends in technology that open the door to a new approach to understanding the world and making decisions. There is a lot more data, all the time, growing at 50 percent a year, or more than doubling every two years, estimates IDC, a technology research firm. It’s not just more streams of data, but entirely new ones.
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When you are doing this kind of analytics, which is called "big data," you are looking at hundreds of thousands to millions of people, and you are converging against the mean. I can’t tell you what one shopper is going to do, but I can tell you with 90 percent accuracy what one shopper is going to do if he or she looks exactly like one million other shoppers.
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The amount of data in our world has been exploding, and analyzing large data sets-so-called big data-will become a key basis of competition, underpinning new waves of productivity growth, innovation, and consumer surplus, according to research by MGI and McKinsey's Business Technology Office.
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'Big data' refers to the newfound ability to collect and analyze massive amounts of information on almost every dimension of the human experience. In sectors ranging from retail to healthcare to social media, the promise of Big Data has venture capitalists salivating.
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Organizations are looking at new data analytics platforms as a way to cut costs. But their expectations aren't centered on completing analytics on larger datasets closer to real time. Rather, "improving business agility" won the top spot.
All Analytics - High-Performance, Big Data Analytics Takes a Certain Understanding