In “Big Data: A Revolution That Will Transform How We Live, Work, and Think,” Viktor Mayer-Schönberger and Kenneth Cukier argue that “big data analytics is a revolutionary tool, used mainly in business, science, research, media industries, and social life.” I cannot argue more in favor of their analysis. The way big data has jumped the high walls of standard technology-based industries to the usefulness of other non-tech domains is fascinating.
Here are the seven industries in which big data is now the big daddy!
Big Data Mental Health
I asked psychiatrist online if there’s any database that has historical data of mental health patients reacting to fluoxetine, an antidepressant of the selective serotonin reuptake inhibitor class. She nodded in approval of a database but not for fluoxetine, as it is relatively a new class of antidepressant. Indeed, big data has already entered the world of mental health after contributing much to Cancer research. From helping the pharmaceutical industry evolve its medicinal composition based on diagnostic reports from around the world to general advancement in mental health research every day, big data is helping psychiatry better its diagnostic prescription through effective drugs. Although data-expiry, broader accessibility, patient information storage, and security remain a challenge, but with time, we can only expect innovative solutions to benefit every mental health patient.
Big Data Fine Arts
Many fine art organizations from around the world, including Mutual Art, are using Machine Learning (ML) to study big data that reports on visual characteristics of world-famous artworks. With computer vision and search technologies, art organizations can better analyze color quantization, brightness, saturation, temperature, and many more features comprising visual DNA. Such insights are helping young artists reproduce famous artworks in demand around the globe. The design we see around us is not by chance but through data that has recorded our prior interaction with such imagery. If in 2019 the leaf motif is on every accessory and apparel design, it is not by chance. Big data in fine arts is helping the industry trend a pattern and deliver to visual demand.
The Music of Big Data
If you are in the mood for jazz on a Monday morning, you are surprised if your cabbie is playing jazz on Pandora. If you have heard about music therapy for learning disabilities, it is not a rumor. Big data is driving the music industry today. Today, there are plenty of online music portals. What do you think is happening with the data that those portals generate about the listening behavior of users? Record companies are investing in machine learning to interpret data reported by online analytics portals. It is helping them to educate their singers about the market demand so that they can deliver music customized to our taste. Big data is gathering insights at such granular levels that data scientists can predict the rise and fall of our musical rock stars or the success of world concerts.
Filmmaking & Big Data
The influence of big data in filmmaking is beyond imagination. Netflix is recording every breath and break you take. With the largest subscriber database and AI-driven focus on personalization, Netflix is rocking the profit charts even with Disney entering the bandwagon. Much like these film distributing and filmmaking corporations, Hollywood and Bollywood are also riding the AI to harness big data to determine movies that will be a meteoric hit. If production houses in both the US and India have taken to producing biopics, it is only suggestive of the amount of data they have about our preferences. Legendary Entertainment’s Chief Analytics Officer, Matthew Marolda, has long attributed the success of “Jurassic World” and “Straight Outta Compton” to data analytics after his coveted success with sports analytics.
Big Data in Sports
In “Big Data, Efficient Markets, and the End of Daily Fantasy Sports As We Know It?” the authors talk about “how access to new and yet unforeseen data, models, and computing power to manage it, when viewed through the lens of efficient market hypothesis, will cause the daily fantasy sports market to change dramatically.” Matter of fact, big data analytics is helping significant sports organizations such as The Board of Control for Cricket in India (BCCI) and its team of analysts in choosing rosters based on past performance, hopeful outcome, and probable weather conditions. The London Olympics was the first big data-driven sporting event, and since then, an increasing number of sports committees are banking on big data and predictive analytics to train their players for the Olympics gold.
Big Data & Fashion
Have you watched the Dolce and Gabbana Fall/Winter 2018 show? Eight drones rocked the runaway with D&G bags to celebrate the show’ theme: all things digital. And what is digital if not data? From predicting trends, market targeting, selecting colors to set prices, big data has already built its authority in the fashion industry. IBM’s Cognitive Fashion technologies leverage AI, ML, Natural Language Processing (NLP), and computer vision to read vast amounts of data to understand and empower online fashion retailers in apparel, furniture, or jewelry. With big data at the heart of design, designers can select a pattern from any era or textile of choice that consumers would readily buy.
From my experience of running a publishing house, I can hands-down vouch for the benefits of big data in the publishing industry. Publishers are opting for a digital presence, and with the help of big data, they can collect, organize, and index content from multiple repositories. By making the search quick and simple for users, publishers can analyze search logs and on-page behavior for content personalization. Optimizing user experience results in high sales revenue through search engine testing, and scoring is one of the primary objectives of publishers going online. There are also Nielsen services for book publishers where one can quickly figure the sales record of a particular title from anywhere in the world.
Finally, it is not easy to conclude something that is yet to reach its full potential. Whatever we know about big data today is a preface to a future that is going to be magical for data lovers. Educational institutions can consider this as a huge opportunity to arrange for cross-training of their students in big data and analytics while grooming them in the domains discussed in this article.