Application Data is the new oil. It would not be wrong to say

INTRODUCTION

Data is the new oil. It would not be wrong to say “data is the life blood for any business or institution.

Application: Data is the new oil. It would not be wrong to say “data is the life blood for any business or institution.” The pace at which the data is being generated is phenomenal. On an average, 2.5 quintillion bytes of data are generated every day. Today data manifests itself in various formats such as numbers, texts, pictures, videos, speech signature etc. The nature of data is becoming more non-structured such as in the case of tweets, Facebook posts, Instagram messages etc. It is important to decode and decipher the huge pile up of data at every level be it business organization or industry. The application of data analytics transcends industries and domains. We present some of the interesting real life applications of analytics.

1. WINE ANALYTICS

How do you know about the wine quality? How do you decide which wine is going to get better with time? How do people decide about the price of the wine even before it matures?

2. ANALYTICS FOR CRIME PREVENTION

Artificial intelligence and the Internet of Things has brought a change already in the way agencies operate. Smart devices, virtual meeting tools, cloud, newer tracking tools …

3. CHATBOTS

Chat is the new digital communication, targeting customer retention and convenience. Chatbots enable the human resources who would normally engage with the customers /website …

4. ANALYTICS IN HUMAN RESOURCES

The first 10 results for job search with keyword “Project Manager” on a popular professional social networking website showed 200+ applicants for each of the 10 postings …

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