How Real Time Data is Changing the World as We Know It
To say that big data is changing the world may sound like an overstatement, but in reality it’s true in nearly every respect. Big data has quickly come onto the scene and is steadily transforming businesses, institutions, organizations, governments, and a host of other entities in ways that were only part of the most imaginative mind just a decade ago. As the amount of data generated continues to grow and more experts figure out how best to utilize it, understanding regarding big data has grown with it. Now it’s not just about analyzing as much data as possible; it’s about doing so in real time. In fact, real time data analytics has the potential to change the world in much the same way big data has, and we’re already seeing some of those changes happening right before our very eyes. Here are just five examples of that phenomenon.
1. Better Education
Finding new and better ways to help students learn has always been a challenge, but big data analytics might be the key to improved education. One example of this is the platform Knewton, which looks at data in real time to pinpoint what students’ learning habits are. After determining this, the platform can tailor learning approaches that will make it easier for students to grasp difficult concepts. The company behind Knewton is also looking at creating smart textbooks, which can adapt to specific student needs, all in real time. This could lead to better results in the classroom and students who learn at a faster pace.
2. Greater Interaction With Businesses
Companies have struggled to find better ways to interact with their customers in order to improve that relationship, and the use of real time data is just the thing to solve that problem. Real time data helps businesses measure their interactions with customers. Much of the time this is done on social media through social listening and analytics, but companies are finding more creative ways to use real time data. One notable instance of this is Airbnb’s use of real time data in a campaign demonstrating worldwide use of the company’s website. The campaign renders animations showing customers who are currently traveling, checking in, or staying at locations found through Airbnb. This level of interaction helps connect customers to the business.
3. Improved Ad Research
Many businesses are looking to create effective advertisements, but measuring that effectiveness has usually been difficult. Real time data, however, can get incredibly accurate readings on how individuals react to advertising campaigns. By measuring facial expressions, companies can gauge if a person is responding negatively or positively to a particular ad. In this way, organizations can know in an instant if the advertisement is working as intended. Granted, measuring emotions can be a bit tricky, but through real time analytics, companies can get a better picture of how they’re doing.
4. More Efficient Government Work
Real time data is even being used to help government leaders plan and execute their strategies more efficiently. In one case, Boston’s mayor looks at real time data as a way to measure multiple issues throughout the city of nearly 650,000 people. Those statistics include education, building permits, even all the way down to potholes. Based off of the data collected, government officials can compare the information to KPIs and determine if they are on track to meet goals. This approach may soon be adopted by other government institutions with the goal of making large bureaucracies work more efficiently.
5. More Accurate Weather Predictions
Needless to say, predicting the weather is a formidable challenge, but real time data could help in the effort. Some organizations are now taking more than 2 million weather data points from around the world, all collected in real time and analyzed to come up with more accurate weather forecasts. The hope is that with more information gathered each day, they’ll not only be able to predict with certainty what kind of weather tomorrow will bring, but what the next week, month, and even year will be like.
As big data platforms such as Apache Spark become more common, the use of real time data analytics will grow. Many organizations see the potential real time data offers; it’s only a matter of time before that potential is realized. Big data collected and analyzed in real time could very well revolutionize the world, leading to improved outcomes, more profitable businesses, more efficient government operations, and scientific breakthroughs. | Images Via Shutterstock
