Sometimes it’s fun to take a step back and observe contemporary culture with a critical eye—like a historian analyzing the mores, rituals and norms of a long gone society. Many who’ve taken an objective look at the present have declared that we are living in the Age of Big Data.
As Microsoft Chief Executive, Satya Nadella, points-out, “90 percent of all the data that has ever been created was generated in the last two years.”Data is simpler to aggregate, easier to access and more likely to be effectively leveraged than ever before. As with any trend, there is backlash (a resurgence in mystical beliefs, like astrology has been cited), but there is no denying that Big Data has led to breakthroughs in various industries. We look at three and tell you how to thrive in this age of facts and figures.
3 Industries Benefiting from Big Data
Perhaps no industry collects more data than medicine, but practitioners struggle to leverage this data for treatment as medical records are often siloed in archives controlled by different doctors' offices, hospitals, clinics and administrative departments (sound familiar?).Big Data is changing things. The wide accessibility and ease of use of calorie counting mobile apps, wearable pedometers and similar data aggregators have made the individual aware of and accountable for their own health—an important step towards disease prevention and management.
Data aggregators have made the individual aware of and accountable for their own health.
Projects, like the Pittsburgh Health Data Alliance, are building a future wherein personal data shapes global healthcare initiatives.Carnegie Mellon University, Pittsburgh University and the University of Pennsylvania Medical Center (UPMC) are working together to use data from various sources (such as medical and insurance records, wearable sensors, genetic information and even social media use) to paint a comprehensive picture of the patient as an individual, in order to offer a tailored healthcare package. A patient’s data will be compared to thousands of others’ for a sophisticated predictive modelling diagnostic strategy that the Pittsburgh Data Alliance hopes will reduce healthcare costs and create thousands of jobs worldwide.
From pharma to farming! Big Data’s influence has seeped into America’s farmlands, where it is bringing efficiency and order to previously intuitive agricultural practices. Precision farming tools apply data to monitor individual plants for nutrients and growth rates, provide detailed information about water availability and pest infestations and generally help farmers hedge against losses and maximize profit. Investment in ag tech, as it’s called, has increased 80% each year since 2012 and experts predict that the software market for yield monitoring, field mapping, crop scouting and weather forecasting will grow 14% by 2022 in the United States alone.
Big Data’s influence has seeped into America’s farmlands, where it is bringing efficiency and order to previously intuitive agricultural practices.
Data driven farming is not only poised to improve the global economy, but eliminate world hunger. Chemists and agricultural scientists are mining data to develop seeds that can grow in any environment in an effort to end famine.
Art and math are often thought to be diametric opponents, but even these spheres overlap in the age of Big Data. The last few years have seen the emergence of several startups that employ data analytics to quantify and democratize art investment.
Several startups use data analytics to quantify and democratize art investment.
One such startup, Arthena, analyzes hundreds of thousands of data points on works of art—artist, style, medium, size, etc... The company considers prices at public auctions, the number of gallery or museum exhibits an artist has had, how often an artist’s name comes up in databases or is mentioned on social media and works collectors already own of a given artist to select pieces that will generate handsome returns for investors. Startup, Magnus, aims to catalog the existence and publicize the price of every piece of artwork while Artsy lists inventory from a global network of galleries and streams auctions to mobile devices. Head of Deloitte Consulting’s US Art & Finance team, Phillip Ashley Klein, maintains that this data-first approach can birth a new generation of art aficionados—Millennials who value a “more personal experience and more contextual transparency.”
How You Can Thrive in the Age of Big Data
Perhaps no industry has more to gain from effective application of data than local government.Think of all of the constituent information that sits siloed in filing cabinets and department-specific spreadsheets. Now imagine its potential if effectively applied. GovPilot does it every day.
Our public-facing digital forms collect the constituent information you need to perform 100 plus processes, including the issuance of permits and licenses, the management of complaints and the disclosure of requested data sets.
Aggregated data joins historical records in GovPilot’s ever-accessible, totally secure, cloud-based server, where it is organized according to the relevant property. Data fuels automated workflows that cross departments and clear communication hurdles to increase productivity and expedite project completion.
GovPilot associates constituent data with the relevant property.
A wide range of industries are embracing Big Data and reaping huge benefits. Adopt GovPilot and see what Big Data can do for you.