Subscribe

Categories

Add to Technorati Favorites

 Subscribe in a reader

Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

06/21
2013

Big Data: It’s What’s Important

On the off chance you’re still not convinced about big data’s potential for greatness, I bring you five “cool ways big data is changing lives.”

big data teaser Big Data: It’s What’s ImportantThe list comes to you via Raj Sabhlok and Forbes Magazine.

1. Fewer Trips To The ER = $4.5 Million 

Big data is helping the folks at Caesars Entertainment Corp. cut the healthcare costs for its employees and covered family members.

It seems after analyzing all the data from the health insurance claims of its employees, the company found that at one particular property only about 11% of emergencies – versus 34% across the rest of Caesar’s properties – were being treated at urgent-care facilities that charge less than hospital emergency rooms.

So Caesars launched a campaign to make employees more aware of urgent care facilities and other less expensive alternatives to visits to the emergency.

After several years, the number of emergency visits to urgent care facilities increased by 6%, while the number of people making multiple visits to emergency rooms decreased by 10%. The result: $4.5 million in savings on healthcare costs.

2. UPS Outfits Its Trucks In High-Tech Gear

Big Brown is using big data to more efficiently plan its delivery routes as well as to save money on gas. The company has equipped its brown vans with sensors that monitor, among other things, the speeds and locations of the vehicles. In 2011, UPS reduced its fuel consumption by 8.4 million gallons and shaved 85 million miles off its routes by analyzing the GPS data as well as the data from fuel-efficiency sensors.

3. Humanitarian Efforts

Big data is helping three anti-trafficking organizations eradicate human slavery.

The organizations, Polaris Project, La Strada International and Liberty Asia are aggregating and analyzing their global data to help more victims escape their situations as well as to identify global trends that can help them devise more effective strategies to deal with the problem.

4. Top Fashion Influencer

In the fickle world of fashion, big data is helping designers and fashion companies stay relevant – and hot. Using big data and predictive analytics, fashion firms can predict the styles their customers will gravitate toward – something that analyzing historical data or using focus group just can’t do.

Fashion companies can now collect and analyze way more data about their customers and prospects so they can determine the preferences of those consumers more clearly than ever before. Companies can then use the insights they’ve gleaned from the data to make decisions about future fashion trends.

5. Targeted Ad Campaigns

Retailers can analyze all the data associated with a shopper’s historical purchasing patterns, use predictive analytics to determine the customer’s future purchases and then send coupons and mailers to him to promote those products.

Now, if the Boston Bruins could only figure out a way to use big data to help them take out the Chicago Blackhawks and win Lord Stanley’s Cup.

Next Steps:

  • Subscribe to our blog to stay up to date on the latest insights and trends in big data and predictive analytics.

Linda Rosencrance
Spotfire Blogging Team

Print post

Is your data hiding something?
Download Your Free 30-Day Evaluation of TIBCO Spotfire®

Post a Comment

Your email is never shared. Required fields are marked