Data analysis has become increasingly mainstream in recent years and the benefits of effective data applications are abundantly clear. Big data platforms have developed into an important industry on their own and businesses continue to find fascinating new uses for the information they can access. These stories showcase exciting new uses for and studies on data analysis.
Big Data Analytics Have Taken Off
A piece on Forbes highlights ways in which big data has not only changed other industries, but developed a massive industry of its own. Rolls Royce’s aircraft engine division incorporated sensors into its engines and 70 percent of its revenue now comes from its engines and maintenance based on data analysis as a service. Google acquired ITA Software for $700 million for its stream of data on major airlines’ flight schedules. That data is used by travel sites, many newer startups, to offer competitive pricing. As more companies find ways to draw data from their businesses or capitalize on readily available information, the rapidly growing industry of big data analysis tools and platforms will continue flourishing.
Survey Finds Firms Succeed with Analysis
A new research project found data and IT executives believe their investments in big data have noticeably and positively impacted their bottom lines. The survey respondents take their analysis seriously — nearly 60 percent consider big data a top priority and 90 percent rate their investment in such as “medium to high,” according to SiliconANGLE. Two thirds of the executives think their investment in analysis is already paying off, but respondents also reported a lack of data-driven culture in their organizations. It’s only a matter of time until the value of big data is fully democratized and accessible throughout more organizations.
Designing Teams with Data Analysis
Data isn’t just for teams to analyze, it can also be used to build better teams, according to CIO. Hiring, promotion and retention strategies should ideally be supported by quantifiable reasoning and the advent of data analysis tools have granted organizations newfound access to quantifiable information pulled from their own records. Companies can track performance to find candidates for leadership development or study relationships between work environments and workplace culture. Diversity, efficiency and morale can all be analyzed and improved by management empowered by the right data.
A Data-driven Digital Assistant
Gluru, a productivity app built on a powerful predictive analytics engine, was recently released to the public. The app, featured on VentureBeat, works like Google Now for busy professionals. It offers business users relevant information and documents based on calendar appointments, calls, email data and workflow analysis. The tool employs machine learning to become better acquainted with its users so it can deliver the right information at just the right time. Gluru can tie together Box, Dropbox, Evernote, Google and OneDrive accounts and Gluru’s CEO has shared plans to roll out even more interconnectivity. Tools like Gluru highlight the exciting opportunities for day-to-day data analysis anyone can enjoy.