Statistics, often referred to as “big data, ” are presented in reports that analyze trends. This information might be used for market research, but it also can be used for a variety of other reasons such as evaluating safety and effectiveness of products or services.
Not every company understands how to use statistics, however. A big data course can help the following seven industries learn how to analyze information found in research reports:
1. Manufacturing plants
They can monitor production records, view safety reports, and study employee data. Any aspect of products and work performance can be measured and analyzed using big data.
2. Retail stores
Point-of-sale receipts provide quite a bit of information about buying habits. It shows store owners what times of the day, week, month or season certain demographics purchase products. In addition, it might show service usage trends during different times of the year.
3. Schools and universities
When educational institutions understand how to use big data statistics, they can evaluate student performance. Knowing how to read statistical reports and use them for the betterment of learning can enhance educational experiences. It also can ensure that elementary schools, high schools and universities hire the most qualified instructors available.
4. Medical centers
Hospitals, doctors offices and emergency rooms can use big data statistics. It helps them observe patients closely enough to save their lives, and it measures the effectiveness and safety of treatments, surgeries and medications. In addition, it brings forth evidence of medical treatment methods that need improvement. Learning how to read big data can also help medical researchers as they conduct clinical trials and view experiment results.
5. Financial institutions
Bankers and customer service personnel can use big data for a variety of purposes. For instance, statistics can show how much return on an investment certain financial products yield. In addition, big data training can enhance security because careful analysis of unusual activity maybe will reveal evidence of hacking before data breaches cost an institution money.
6. Media and entertainment companies
Knowing how to use big data for evaluation purposes can assist companies who offer entertainment online or for television and radio. Statistical evaluations can provide content based on consumer usage. They also can gauge what to show at cinemas or on stage by studying consumer trends.
7. Creative agencies
Freelance writers and web designers, sculptors, drawers, and painters, and advertising agencies can all use big data to find out what will attract an audience. Consumer trends and other information pertaining to the arts and advertising can improve marketing efforts.
This is not by any means an exhaustive list of the industries that could benefit from enrolling in a big data course. Anytime studies of people, trends, sales or production would benefit a business or organization; that is when education about how big data can be used would be helpful.