Big Data means different to different industry e.g. to computer manufacturers, big data analytics could mean demand for expensive servers and storage arrays; to the communications or cloud industry, the movement of data. But, for general people it means Big Data Analytics. The impact of change could be far-reaching and unpredictable. The budget spent on advertising via electronic, print and display media could costs double for data collection and analysis with impact which is immense. In the age of analytical marketing, we see firms collect more and more data in order to fine tune their analysis and increase competitive edge. To know more, follow Barry Schaeffer (principal consultant with Content Life Cycle Consulting)’s article link: http://www.cmswire.com/cms/big-data/look-before-you-leap-into-the-big-data-revolution-026873.php

According to Jayakanthan Chidambaram (Associate Technical Architect, Aspire Systems), sustaining in the market with a persistent growth is considered to be one of the greatest challenges in any industry. Companies are focusing their investments on business intelligence technologies in order to predict behavior and consequences from patterns found in large volumes of data. Predictive analytics transforms data into important and useful information. Data analysis can be broadly categorized into 4 types - Descriptive, Simple Statistical Summations, Prescriptive and Predictive. Personalization based on location, behavior and preferences are driving how organizations should cater to customer needs and grow their business. When organizations adopted Business Intelligence, they took the first step towards understanding what is currently happening in their business. Now is the time to take that maturity to the next level where the need is not only to know what is happening but also be able to predict what is about to happen. Read more at: http://www.informationweek.in/informationweek/perspective/298003/predictive-analytics-future-business-intelligence?utm_source=referrence_article

Several financial services clients currently are successfully building a robust suite of information platforms to offer a superior variety of resources for its researchers. With a unique platform that offers value to users, the job of researchers to help clients with current, assorted needs for market data is enhanced. The need for robust information platform is clearly due to a continual demand for market data. Other than the immediate availability of the data, researchers also need the data to be presented in a complimentary layout that boosts the usability of the data, which is a principal requirement of platform functionality. Read more at: http://blog.marketresearch.com/how-market-research-solutions-complement-financial-services-firms%E2%80%99-existing-data-resources

 A McKinsey study last year stated that companies using Big Data and data analytics effectively show high productivity rates and profitability. But implementation of data analytics is challenged by lack of skilled manpower. Recently many B-schools are stepping up and have emphasized on advanced analytics techniques such as 'Clustering', however very few institutes teach Big Data technologies like 'Hadoop'. The hiring companies which look for data analytics include digital companies, ad agencies, and IT companies and so on. Internationally a vast number of management schools including New York University, University of Texas at Austin, Georgia Tech have had Analytics certificate programs for the last five years or so.Read more at

http://www.business-standard.com/article/management/learning-the-abc-of-big-data-114062900615_1.html

To boost manufacturing and entrepreneurship in the country, Flipkart (Indian e-commerce company)  announced its tie up with Small and Medium Enterprise (SMEs) promotion bodies. Strong data analytics that forms the base of e-marketplaces will help the sellers to improve their products easily and attract more customers. According to the Executive Director of NCDPD (National Center for Design and Product Development), analytics and market intelligence provided by Flipkart will assist NCDPD in improving their products and R&D and also enable the craftsmen to create better saleable products. The objective of this tie-up is to continue helping entrepreneurs to create products according to buyer requirements and grow significantly by expanding their business so that they may become manufacturers not only at a local but also at a national level. Read more at: http://articles.economictimes.indiatimes.com/2014-06-18/news/50678912_1_data-analytics-flipkart-market-data.

A pilot project using predictive analytics and applied natural language processing identified 8,500 patients of Carilion Clinic who are at risk of congestive heart failure. Discrete data points, such as weight and medications, can be found in structured EMR (electronic medical record) fields. Unstructured data includes physicians' notes that are typed or read into a patient's EMR or discharge papers.  The natural language processing technology searched for key words or phrases within the unstructured data as well as in structured data. In all, 20 million documents were analyzed. Because approximately half of all patients who develop heart failure die within five years, according to the “Centre for Disease Control and Prevention”, early identification is essential. About 3,500 of the 8,500 patients Carilion identified as at-risk would not have been found if the project had analyzed only the structured data, according to Steve Morgan, MD and chief medical information officer at Carilion Clinic.

To know more, please visit famous author & reporter Maggie O'Neill’s article by clicking on the following link:

http://www.baselinemag.com/analytics-big-data/analytics-ids-patients-at-risk-for-heart-failure.html/