Bonfring International Journal of Software Engineering and Soft Computing, Vol. 8, No.
1, March 2018 6
An Overview of Applications of Big Data
Analytics
K. Sangeetha, T. Poongothai, S. Anguraj and S. Nithya Kalyani
Abstract--- In recent years, the volume, variety and
velocity of data is increased in all the applications. To
discover information from large volume of data is a
challenging task. Big Data Analytics helps to find useful
information for making better decisions. Therefore,
researchers inclined their interest towards this field. This
paper review the use of Big Data Analytics in various
domains.
Keywords--- Big Data, Big Data Analytics, Security,
Healthcare, Manufacturing, E-Commerce.
I. INTRODUCTION
G ATHERING and processing of huge amount of data is
essential in all kind of application domains. This is an era
of collective intelligence. Every day approximately 2.5
quintillion bytes of data is collected, it is estimated that 90%
of the data which is been generated till now is created in last 2
years alone, and with the help of that thing we can predict
what amount of data the world would be dealing within
upcoming years, and that lead us to work with the term that is
called Big data. Big data analytics is where advanced analytic
techniques operate on such big data sets. Big data analytics
refers to the process of collecting, organizing and analyzing
large sets of data to discover patterns and other useful
information. Big data analytics can help organizations to better
understand the information contained within the data and will
also help identify the data that is most important to the
business and future business decisions. Big data analysts
basically want the knowledge that comes from analyzing the
data.
Big Data Analytics is a recent and rapidly evolving field in
technology driven business world, and private and public
organizations are eagerly waiting to collect the promised
results. Empowered by advancement of information and
communication technology, the volume and complexity of
data are growing exponentially. Big Data is formed of large,
diverse, complex, longitudinal, and distributed data sets
generated from various instruments, sensors, Internet
transactions, email, video, click streams, and other sources
K. Sangeetha, Assistant Professor, Department of Information
Technology, K.S.R College of Engineering, India.
T. Poongothai, Associate Professor, Department of Computer Science
and Engineering, K.S.R College of Engineering, India.
S. Anguraj, Assistant Professor, Department of Information Technology,
K.S.R College of Engineering, India.
S. Nithya Kalyani, Assistant Professor, Department of Information
Technology, K.S.R College of Engineering, India.
DOI:10.9756/BIJSESC.8381
ISSN 2277-5099 | © 2018 Bonfring
1. It is commonly characterized in three or more Vs:
volume, velocity, variety, and additionally value,
veracity etc. Big Data Analytics is characterized by
the requirement of advanced data storage,
management, analysis, and visualization
technologies, which traditional business analytics is
not able to offer.
2. These technologies include, among others:
interfusion of various data sources, real-time
analysis, online analytical processing, business
performance management, data mining, machine
learning, cloud computing, distributed processing,
parallel algorithms, and parallel DBMS.
Big Data Analytics generates new opportunities for the benefit
of our society, but it also introduces challenges. Applications
of Big Data Analytics are expected to change the world, how
people and organizations are doing things in the future, as it
provides increasing awareness and deeper insight on various
real world and virtual phenomena. It is to change business
models, management and decision making processes in
companies and public organizations, and to affect usage of
resources in creating products and services.
Big Data Analytics plays vital role in various application
domains like health care, security,e-commerce, manufacturing,
banking sectors and more. This paper provides an overview of
big data analytics in various applications.
II. BIG DATA ANALYTICS FOR SECURITY
This section explains how Big Data is changing the
analytics landscape. In particular, Big Data analytics can be
leveraged to improve information security and situational
awareness. For example, Big Data analytics can be employed
to analyze financial transactions, log files, and network traffic
to identify anomalies and suspicious activities, and to correlate
multiple sources of information into a coherent view.
Data-driven information security dates back to bank fraud
detection and anomaly-based intrusion detection systems.
Fraud detection is one of the most visible uses for Big Data
analytics.
Credit card companies have conducted fraud detection for
decades. However, the custom-built infrastructure to mine Big
Data for fraud detection was not economical to adapt for other
fraud detection uses. Off-the-shelf Big Data tools and
techniques are now bringing attention to analytics for fraud
detection in healthcare, insurance, and other fields.
Analyzing logs, network packets, and system events for
forensics and intrusion detection has traditionally been a
significant problem; however, traditional technologies fail to
Bonfring International Journal of Software Engineering and Soft Computing, Vol. 8, No. 1, March 2018
provide the tools to support long-term, large-scale analytics
for several reasons:
• Storing and retaining a large quantity of data was not
economically feasible. As a result, most event logs
and other recorded computer activity were deleted
after a fixed retention period.
• Performing analytics and complex queries on large,
structured data sets was inefficient because
traditional tools did not leverage Big Data
technologies.
• Traditional tools were not designed to analyze and
manage unstructured data. As a result, traditional
tools had rigid, defined schemas. Big Data tools can
query data in flexible formats.
• Big Data systems use cluster computing
infrastructures. As a result, the systems are more
reliable and available, and provide guarantees that
queries on the systems are processed to completion.
New Big Data technologies, such as databases related to
the Hadoop ecosystem and stream processing, are enabling the
storage and analysis of large heterogeneous data sets at an
unprecedented scale and speed. These technologies will
transform security analytics by:
• collecting data at a massive scale from many internal
enterprise sources and external sources such as
vulnerability databases;
• performing deeper analytics on the data;
• providing a consolidated view of security-related
information; and
• achieving real-time analysis of streaming data. It is
important to note that Big Data tools still require
system architects and analysts to have a deep
knowledge of their system in order to properly
configure the Big Data analysis tools. Some
examples of Big Data Analytics in security are
Network Security, Enterprise Events Analytics,
Netflow Monitoring to Identify Botnets, Advanced
Persistent Threats Detection.
Big Data Analytics has much to contribute to the emerging
field of security informatics. Security issues are a major
concern for most organizations. According to the research firm
International Data Corporation, large companies are expected
to spend $32.8 billion in computer security in 2012, and small-
and medium-size companies will spend more on security than
on other IT purchases over the next three years (Perlroth and
Rusli 2012). In academia, several security-related disciplines
such as computer security, computational criminology, and
terrorism informatics are also flourishing (Brantingham 2011;
Chen et al. 2008). Intelligence, security, and public safety
agencies are gathering large amounts of data from multiple
sources, from criminal records of terrorism incidents, and
from cyber security threats to multilingual open-source
intelligence. Companies of different sizes are facing the
daunting task of defending against cyber security threats and
protecting their intellectual assets and infrastructure.
Processing and analyzing security-related data, however, is
increasingly difficult. A significant challenge in security IT
research is the information stovepipe and overload resulting
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from diverse data sources, multiple data formats, and large
data volumes. Current research on technologies for
cybersecurity, counter-terrorism, and crime fighting
applications lacks a consistent framework for addressing these
data challenges. Selected Big Data Analytics technologies
such as criminal association rule mining and clustering,
criminal network analysis, spatial-temporal analysis and
visualization, multilingual text analytics, sentiment and affect
analysis, and cyber-attacks analysis and attribution should be
considered for security informatics research.
III. BIG DATA ANALYTICS FOR HEALTH CARE
The healthcare industry historically has generated large
amounts of data, driven by record keeping, compliance &
regulatory requirements, and patient care. While most data is
stored in hard copy form, the current trend is toward rapid
digitization of these large amounts of data. Driven by
mandatory requirements and the potential to improve the
quality of healthcare delivery meanwhile reducing the costs,
these massive quantities of data (known as ‘big data’) hold the
promise of supporting a wide range of medical and healthcare
functions, to derive previously untapped intelligence and
insights from data to address many new and important
questions. Within the health sector, it provides stakeholders
with new insights that have the potential to advance
personalized care, improve patient outcomes and avoid
unnecessary costs. By definition, big data in healthcare refers
to electronic health data sets so large and complex that they
are difficult or impossible to manage with traditional software
and/or hardware; nor can they be easily managed with
traditional or common data management tools and methods.
Big data in healthcare is overwhelming not only because of its
volume but also because of the diversity of data types and the
speed at which it must be managed. It includes clinical data
and clinical decision support systems like physician’s written
notes and prescriptions, medical imaging, laboratory,
pharmacy, insurance, and other administrative data; patient
data in electronic patient records (EPRs); machine
generated/sensor data, such as from monitoring vital signs;
social media posts, including Twitter feeds, blogs , status
updates on Facebook and other platforms, and web pages; and
less patient-specific information, including emergency care
data, news feeds, and articles in medical journal. For the big
data scientist, there is, amongst this vast amount and array of
data, opportunity. By discovering associations and
understanding patterns and trends within the data, big data
analytics has the potential to improve care, save lives and
lower costs. Thus, big data analytics applications in healthcare
take advantage of the explosion in data to extract insights for
making better informed decisions.
Analytics when applied in the context of big data is the
process of examining large amounts of data, from a variety of
data sources and in different formats, to deliver insights that
can enable decisions in real or near real time. Various
analytical concepts such as data mining, natural language
processing, artificial intelligence and predictive analytics can
be employed to analyze, contextualize and visualize the data.
Big data analytical approaches can be employed to recognize
inherent patterns, correlations and anomalies which can be
Bonfring International Journal of Software Engineering and Soft Computing, Vol. 8, No. 1, March 2018
discovered as a result of integrating vast amounts of data from
different data sets. The types of data anticipated to be of use in
BDA include:
• Clinical data – up to 80 per cent of health data is
unstructured as documents, images, clinical or
prescribed notes;
• Publications – clinical research and medical reference
material;
• Clinical references – text-based practice guidelines
and health product (e.g., drug information) data;
• Genomic data – represents significant amounts of
new gene sequencing data;
• Streamed data – home monitoring, telehealth,
handheld and sensor-based wireless or smart devices
are new data sources and types;
• Web and social networking data – consumer use of
Internet – data from search engines and social
networking sites; and
• Business, organizational and external data –
administrative data such as billing and scheduling
and other non-health data.
Big data analytics represents a new approach to analytics.
It does not yet have a large or significant footprint India or
internationally. However, the continuing digitization of health
records together with the interoperable electronic health record
(EHR), presents new opportunities to investigate a myriad of
clinical and administrative questions. There is potential to
layer BDA-type applications, in a privacy-protective manner,
on top of the foundational health IT infrastructure to derive
value that might not otherwise be found. What follows are
some innovative ideas and solutions.
• Clinical decision support – BDA technologies that
sift through large amounts of data, understand,
categorize and learn from it, and then predict
outcomes or recommend alternative treatments to
clinicians and patients at the point of care.
• Personalized care – Predictive data mining or analytic
solutions that can leverage personalized care (e.g.,
genomic DNA sequence for cancer care) in real time
to highlight best practice treatments to patients.
These solutions may offer early detection and
diagnosis before a patient develops disease
symptoms.
• Public and population health – BDA solutions that
can mine web-based and social media data to predict
flu outbreaks based on consumers’ search, social
content and query activity. BDA solutions can also
support clinicians and epidemiologists performing
analyses across patient populations and care venues
to help identify disease trends.
Clinical operations – BDA can support initiatives such as
wait-time management, where it can mine large amounts of
historical and unstructured data, look for patterns and model
various scenarios to predict events that may affect wait times
before they actually happen.
• Policy, financial and administrative – BDA can
support decision makers by integrating and analyzing
data related to key performance indicators.
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Some of Big Data challenges in Health Care are as follows
• Leveraging the patient/data correlations in
longitudinal records.
• Understanding unstructured clinical notes in the right
context.
• Efficiently handling large volumes of medical
imaging data and extracting potentially useful
information and biomarkers.
• Analyzing genomic data is a computationally
intensive task and combining with standard clinical
data adds additional layers of complexity.
• Capturing the patient’s behavioral data through
several sensors; their various social interactions and
communications.
The advantages of big data analytics is given as follows.
By digitizing, combining and effectively using big data,
healthcare organizations ranging from single-physician offices
and multi-provider groups to large hospital networks and
accountable care organizations stand to realize significant
benefits. Potential benefits include detecting diseases at earlier
stages when they can be treated more easily and effectively;
managing specific individual and population health and
detecting health care fraud more quickly and efficiently.
Numerous questions can be addressed with big data analytics.
Certain developments or outcomes may be predicted and/or
estimated based on vast amounts of historical data, such as
length of stay (LOS); patients who will choose elective
surgery; patients who likely will not benefit from surgery;
complications; patients at risk for medical complications;
patients at risk for sepsis, MRSA, C. difficile, or other
hospital-acquired illness; illness/disease progression; patients
at risk for advancement in disease states; causal factors of
illness/disease progression; and possible comorbid conditions
(EMC Consulting). McKinsey estimates that big data analytics
can enable more than $300 billion in savings per year in U.S.
healthcare, two thirds of that through reductions of
approximately 8% in national healthcare expenditures.
Clinical operations and R & D are two of the largest areas for
potential savings with $165 billion and $108 billion in waste.
McKinsey believes big data could help reduce waste and
inefficiency in the following three areas:
Clinical operations: Comparative effectiveness research to
determine more clinically relevant and cost-effective ways to
diagnose and treat patients.
IV. BIG DATA ANALYTICS FOR E COMMERCE
Big Data as such is an innovative topic which changes the
way companies make decisions and do business requiring new
mindset with new infrastructure concepts. The term itself has
been an internet buzzword since 2012. Since then, big data has
promised to be more utilized in future, as organization both
small and large employs big data analytics in creating a
competitive advantage. Big Data is defined as data that
exceeds the processing capacity of conventional database
management system because of its volume, velocity, and
variability. Within this data lie valuable patterns and
information that previously require amount of work and cost
to extract them (Dumbill, 2012). Today, Big Data is not just
Bonfring International Journal of Software Engineering and Soft Computing, Vol. 8, No. 1, March 2018
about the data itself; it is about analytics when affordable
technologies are used to quickly store, discover and analyze
massive datasets. Big Data Analytics is becoming feasible at
affordable cost. Many ecommerce organizations depend on
Big Data Analytics in gleaning real time; and gaining valuable
insights that drive profitability and smarter business decisions.
However, problems may emerge particularly when the
infrastructure of Big Data fails to perform optimally, hence
leading to important intelligence to become unavailable or
delayed (Graham, 2012). It is true that the application of Big
Data analytics comes with performance challenges, as well as
bottlenecks, which plague the presently distributed
application, subsequently putting Big Data projects at risk.
Data as a service can drive a business, though. Think of
Amazon. It was an online e-commerce product company.
Now, people look at Amazon as a platform as a service,
software as a service, big data as a service, and cloud data
center company. Amazon built an incredible recommendation
engine over the years from various open source technologies.
Zynga, the Facebook gaming company that is known for hits
like Farmville, used Amazon's cloud services to scale its own
databases and analytics.
For data to be useful to users, it must integrate customers
with finance and sales data, with product data, with marketing
data, with social media, with demographic data, with
competitors' data, and more.
The excitement surrounding BI&A and Big Data has
arguably been generated primarily from the web and e-
commerce communities. Significant market transformation
has been accomplished by leading e-commerce vendors such
Amazon and eBay through their innovative and highly
scalable ecommerce platforms and product recommender
systems. Major Internet firms such as Google, Amazon, and
Facebook continue to lead the development of web analytics,
cloud computing, and social media platforms. The emergence
of customer-generated Web 2.0 content on various forums,
newsgroups, social media platforms, and crowd-sourcing
systems offers another opportunity for researchers and
practitioners to “listen” to the voice of the market from a vast
number of business constituents that includes customers,
employees, investors, and the media (Doan et al. 2011;
O’Rielly 2005). Unlike traditional transaction records
collected from various legacy systems of the 1980s, the data
that e-commerce systems collect from the web are less
structured and often contain rich customer opinion and
behavioral information. For social media analytics of customer
opinions, text analysis and sentiment analysis techniques are
frequently adopted (Pang and Lee 2008). Various analytical
techniques have also been developed for product
recommender systems, such as association rule mining,
database segmentation and clustering, anomaly detection, and
graph mining (Adomavicius and Tuzhilin 2005).
V. BIG DATA IN TELECOMMUNICATION
The telecommunication industry land mass in India is
characterised with major operators such as MTNL India,
Bharathi India, Vodafone and Airtel India engulfed with stiff
competition for survival. Customer capacity and profitability
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hinges on three key pillars; efficiency, insight, and
performance. Profitability, customer churn reduction and
increase in wallet share hinges upon obtaining a coherent,
current and actionable view of a service provider’s entire
business. The proper harnessing of such magnitude of data is a
source of revenue for Communication services providers
(CSPs). In a world where more and more customers interact
online via Facebook, Twitter, blogs, etc., and talk about their
experiences and issues online, communication service
providers must have a proactive social strategy through
collecting data and analysing the data to take action on
customer retention and offer attractive services. However,
dealing with social media means dealing with unstructured
data, which is complex as it does not always fit into neat tables
of columns and rows. The advent of these new data types that
can be both structured and unstructured means they must be
pre-processed to yield insight into a business or condition.
Data from Twitter feeds, blogs, call detail reports, network
data, video cameras and equipment sensors is not stored
directly in a data warehouse until it is pre-processed to
correlate and normalize the data to detect basic trends and
associations. It is a cost-effective mechanism to structure the
unstructured data part, load that data into data warehouses for
comparison and then use that data with other collected data to
run advanced analytics processes on it. There is a need for
solutions that can combine usage and subscription data with
insight into the network, cost, customer mood and customer
preference data to trigger specific actions, which helps
enhance customer experience.
Communication service providers have no dearth of data at
their disposal, but they are missing actionable insights from
that data. The fact that data passes through the network does
not mean that actionable, correlated information is available to
the company. Communication service providers must find
efficient ways to bring together normalize and correlate all
data sources, which poses a serious challenge. The integration
of data sources as a primary operational challenge is the top
concern for the operators. A big data advanced analytics
solution that effectively utilizes structured and unstructured
data to improve decision-making will be the “silver bullet”
that communication service providers need to alleviate their
business problems.
VI. BIG DATA ANALYTICS FOR MANUFACTURING
Big Data is quickly becoming an important element of the
fourth generation of ERP technology. Today, fourth-gen ERPs
are transforming outdated manufacturing facilities into highly
automated, efficient powerhouses. Big Data’s ability to engage
data, people, and processes is helping to create a new era for
manufacturing. Whether you call this new era the “factory of
the future” or the “connected enterprise,” there are two
elements driving the transformation: innovative mindsets and
data.
In “5 Big Data Technology Predictions for 2015,” Thor
Olavsrud, senior technology writer for CIO magazine wrote,
“In just a few short years, Big Data technologies have gone
from the realm of hype to one of the core disruptors of the new
digital age. 2014 saw Big Data initiatives inside the enterprise
Bonfring International Journal of Software Engineering and Soft Computing, Vol. 8, No. 1, March 2018
increasingly move from test to production. In 2015, Big Data
will push further into the enterprise with even more use
cases—specifically real-time use cases.” Manufacturers now
have access to more resources for data capture and tracking
than ever before. Data is coming from traditional sources, like
the classic customer survey, as well as more innovative
applications, like smart sensors and the use of the Internet of
Things (IoT) to capture machine readings. Managers
throughout an organization can access real-time data for every
aspect of the products being manufactured, from warranty
claims to cycle times and inventory counts. In fact, the volume
of data available is so vast that it can quickly become
overwhelming and cause data paralysis. Big Data has become
an important element of ERP technolgy. Driven by innovative
mindsets, Big Data's ability to engage data, people, and
processes is creating and manufacturers are putting their
investment dollars on the line for Big Data, too. According to
the Tech Target 2015 IT Priorities Survey, 31% of the 2,212
respondents worldwide said their organizations plan
deployments of BI, analytics, or data warehousing tools in
2015. A quarter of respondents expect to invest in Big Data
analytics, and 21% expect to invest in Big Data processing and
management.
Today’s manufacturers have more resources for data
capture and tracking than ever before. The overabundance of
data can be intimidating and cause manufacturers to struggle
to understand how to harness the power of this data.
Data can come from external sources, internal sources, or
be generated by machine-to-machine interaction. Together,
these sources can provide manufacturers with the information
that they need about their customers, products, processes,
people, and equipment.
External sources—Manufacturers can turn to external
sources, such as user groups, social media, focus groups, or
surveys to build customer data. Third-party surveys, portals,
and call centers add an impartial layer to the data collection
that is often less threatening to the customer. The promise of
anonymity can also generate higher response rates. This fact-
finding can be used to build accurate profiles of customers and
prospects, including subjective or “soft” characteristics, like
color and design preferences, common buying triggers, or
evaluation criteria.
Internal sources—Manufacturers can also turn to their
own systems for data capture and analysis. A modern,
integrated ERP system can provide data on products,
processes, and people at all levels and departments in the
organization. Data collected through an ERP system offers
benefits, such as:
• Real-time reporting with up-to-the-minute accuracy
• A common database that provides one version of the
truth
• The ability to drill down into details for historical
depth
• Relational data with context and relevance
Machine-to-machine—Smart sensors and the Internet of
Things (IoT) can now collect data directly from machines and
equipment, and send it on to an ERP system, EAM system, or
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other enterprise applications. Built-in, low-cost sensors can
detect a wide range of attributes, including location, weight,
temperature, vibration, flow rate, humidity, and balance.
These conditions can then be monitored in order to identify
and predict performance issues that require service, repair, or
replacement. This allows manufacturers to get early warning
of impending issues, and hopefully intervene before there’s a
catastrophic interruption to processes and performance.
Machine data provides valuable insights about how
equipment functions in use, whether on the factory floor or in
the consumer’s home. Detailed product lifecycle analysis can
point engineers to future design improvements and
performance enhancements. This data also gives
manufacturers the ability to predict opportunities to sell
replacements and upgrades. Predicting future needs can also
help with sales forecasting and inventory management, so the
organization can prepare for changing demands.
In this new paradigm, where manufacturers are capturing
and using manufacturing data, their primary focus is no longer
on reporting on past events—data is now being used to predict
trends and anticipate needs. In this way, Big Data is acting as
the gateway to the future.
Anticipating consumer trends, stocking necessary
inventory, and maintaining adequate resources to meet
customer orders have been high priorities for manufactures for
decades. As speed of delivery and just-in-time inventory (JIT)
strategies gained importance, the ability to accurately forecast
needs also grew. Manufacturers learned—sometimes the hard
way—the importance of choosing the right influencing factors
or the right combination of factors. When attempting to
predict the future, one data source is seldom sufficient.
Today, predictive analytics has become a valuable science
and tool for manufacturers. It turns data collected from
numerous sources into a blueprint for future actions. Modern
business intelligence solutions now have the ability to project
trends with a high degree of accuracy. As in any data
initiative, though, the output is only as good as the input.
Manufacturers must take care to choose reliable data sources
and to continue to refine which influencing factors provide the
best signposts for future activities.
Predictive capabilities offer many benefits to
manufacturers, including:
• Staffing readiness—When manufacturers have a
reliable forecast of product sales, departments
throughout the organization can plan personnel
staffing accordingly, hiring personnel as needed and
allowing adequate time for team training.
• Raw resources in stock—Procurement teams can
use accurate predictive forecasts to better plan just-
in-time inventory levels of raw materials, preventing
delays due to stock outs.
• Spare parts inventory—An accurate understanding
of the product lifecycle translates to being better
prepared for necessary maintenance, including
having the consumables and parts that require regular
replacement in stock.
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VII. BIG DATA ANALYTICS FOR BANKING SECTOR [5] A. Ghandour “Big Data Driven E-Commerce Architecture”,
International Journal of Economics, Commerce and Management, Vol.
The big data revolution happening in and around 21st III, No. 5, Pp. 940-947, 2015.
century has found a resonance with financial service firms, [6] P.J. Jamack, “Big Data Business intelligence analytics”, IBM developer
considering the valuable data they’ve been storing since many Works, Pp. 1-7, 2012.
[7] C. Papanagnou, “The role of big data exploration and cloud-based
decades. And even though the collection of this data was technologies in manufacturing”, White paper, High speed Sustainable
unplanned, since accounting system has always been historical manufacturing Institute, Pp. 1-11, 2014.
in nature, the potential unlocked by big data analytics exceeds [8] U. Srivastava and S. Gopalkrishnan, “Impact of Big Data Analytics on
any expectation previously expected from this historical Banking Sector: Learning for Indian Banks”, Procedia Computer
Science, Vol. 50, Pp. 643-652, 2015.
record set. This data has now unlocked secrets of money
movements, helped prevent major disasters and thefts and
understand consumer behavior. Banks reap the most benefits
from big data as they now can extract good information
quickly and easily from their data and convert it into
meaningful benefits for themselves and their customers.
Financial firms are looking forward to application of big data
in spheres like front office risk management to back office
trade operations.4 Before we delve into the most affected
areas in BFSI, let us also have a look at what really is big data
all about.
Impact of Big Data on Banking Institutions and major areas of
work
Finance industry experts define big data as the tool which
allows an organization to create, manipulate, and manage very
large data sets in a given timeframe and the storage required to
support the volume of data, characterized by variety, volume
and velocity. Below we look at the major areas where big data
is being utilized by financial institutions which are ramping up
their enterprise risk management frameworks to help improve
enterprise transparency, auditability, and executive oversight
of risk.

VIII. CONCLUSION
This paper provides an overview of applications of Big
Data Analytics in various domains. Big data analytics is
evolving into a promising field for providing insight from very
large data sets and improving outcomes while reducing costs.
Its potential is great; however there remain challenges to
overcome. In the future we’ll see the rapid, widespread
implementation and use of big data analytics across all the
domains. Big Data Analytics becomes more mainstream,
issues such as guaranteeing privacy, safeguarding security,
establishing standards and governance, and continually
improving the tools and technologies will garner attention. Big
data analytics and its applications are at a nascent stage of
development, but rapid advances in platforms and tools can
accelerate their maturing process.

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