Big data is already playing a big role in many industries with tits use expected to be even bigger in the near future. Some of the industries where big data is being applied to a bid scale are manufacturing, construction and building. These industries use big data to make several processes efficient. It is evident that big data will be embraced by many industries in the next decade.
There are several ways through which advanced analytics and big data are being used to improve several industries. In the manufacturing industry for instance, a major metric is the yield. This refers to the output produced in comparison to the input used. Many have argued that big data can be used to increase a company’s yields. This is because it can be used by workers to spot out flows in the whole process. Manufacturers now can access a lot of information. They are able to compare with historical data and optimize their processes basing on established patterns.
Big data is also helping manufacturers save time. This in turn helps in saving cost. Big data is being used to cut costs in several ways. These include minimizing on costs of packaging, production as well as storage and transportation costs. Theoretically, this could lead to reduction in cost of inventory. The construction industry is also using big data in “green construction”. This involves construction of homes which conserve energy for a long period using elements like light fixtures and appliances, energy efficient windows and solar panels.
Homeowners are also gaining big from big data. Many are using data tracking software and applications to cut down on energy consumption. Since 2011, there has been a tremendous growth in green homes from 17 percent to 19 percent of the US housing market. Today many housing projects are 90 percent green. This is giving manufacturers and builders a higher paying margin.
Big data is helping in making manufacturing processes very efficient all around. This includes the ability to increase coordination and collaboration between several sectors and departments. If every sector and department of a manufacturing process is constantly supplied with enough data and analytics, it makes everyone involved to be on the same page which leads to improved quality.
Although many industries are reaping big from analytics and big data, it could also lead to a number of setbacks.
In the near future, the need for human labor is expected to go down with the adoption of robots and machines which have physical capabilities. Some of these machines include digging machines, robotic cranes and automated builders. Although this could save a lot of money and cut on costs, it could also lead to massive loss of jobs. The whole process will leave humans with only supervisory roles.
The bottom line
It remains unclear of how the whole story will play out but it is anticipated that the most outcomes are yet to show up. Every industry is investing in means that will improve efficiency and many are turning to big data for a solution. Many companies are investing in hadoop tools so as to reap the benefits of big data. At the same time, many people are being cautious not to cause massive loss of jobs, run into unhealthy energy consumption levels and unbearable impacts to the environment if big data is employed to the fullest.
It is evident that many businesses are reaping from big data. According to projections by the IDC Research, sales from sales from big data are expected to reach $187 billion in 2019. This would represent 53 percent raise from the $122 billion that was recorded in 2015.
by: Kevin Faber