How Big Data Analytics is Influencing Indian Industries

Big Data is constantly changes business industries in terms of extracting more and more useful information from the raw data, different type of facts and various data figures. These data sets are important for any industry as the data of an organization is the main tool to drive the business and maintain the business rapport with the clients. There are many industries which are implementing big data mechanisms to solve industrial challenges and help the organizations to gain comperative advantages over other companies.

Manufacturing Industry: The need for natural resources such as mineral gas, oil, agricultural products has been increasing day by day which is leading in increase of data volumes and is emerging as the challenge to maintain and handle the data. Therefore, big data enabes predictive modelling algorithms to enhance decision making that has been used integrate large data volumes from geographical data such as graphical data, seismic data interpretations, temporal data, geospatial data and reservoir data characterization.

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Insurance Industry: The specific challenges in this industry are lack of customized customer services, lack of targeted pricing and lack of adopting new segment, market segment targeting of a particular segment and the underutilization of lost data gathered by the data adjusters and customers for a better accounting and data insight. Big data allows insurance companies to get a better insight about the customer retention information. It also provide analysis of customer behaviour parameters and enhance the predictions of the customer behaviour by using the derived data from social media, CCTV footage and other social media posts and data. This data helps insurance companies to detect frauds and scams more effectively. Big Data also offer faster and effective claim management and monitoring of claims in real-time.

Government: One of the most common challenge in the confidential data of governments is its interoperability and integration to various sub government and private organizations and affiliated departments. In this public service sector, Big Data has a broad range of applications including market analysis, scams and fraud detection, environment data research, security data pattern analysis. health and medicine related data research analysis.An Indian Data Science Company, Canopus Data Insights is a leading provider of Big Data Services, Data Science Services and Solutins to clients ranging from start-ups to large business organizations. It is highly expert in generating useful data insights from the raw industrial data and converts it into high valued business outcomes, whether the input data is Big Data sets or large traditional data or huge volumes of structured or unstructured data facts and figures.

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