While we still in an early stage on the Big Data journey, we already know some specific use cases.
There is already some well known fruitful areas for Big Data :
- IT log analytics
- Financial risk
- Fraud detection
- Big data in the energy sector
- Science,such as meteorology, genetics etc..
- Social media
- Call centre interaction analytics
That list could very well grow with new scenarios aligned to business needs or regulatory requirements.
For instance, a bank is trying to attract new customers from a particular demographic to a premium product with various incentives. They want to select the right incentives to maximise the return on their investment in the new product, gain market share from competitors and attract “good” customers (and so on). None of that business intent contains the words “Big” or “Data” yet we know from our early experience that social media analytics has a role to play in terms of better understanding the target audience and, importantly, the competition during product development.