Big data analytics has the power to predict the weather forecast, manage your workforce and even battle Parkinson’s disease.
Data advances are everywhere. It can help your organisation increase revenue and find out more about what your customers really want. When data is analysed by the right people using the right technology it can be a powerful tool and it can even motivate your employees. Almost a third of workers admit that they would be happy for employers to access personal data, such as their social media profiles, to be better motivated at work. This will in turn increase employee performance and retention. Employers can further use this data to spot retention and performance issues and over half of HR professionals said that they were preparing for this shift.
An increase in data is not only changing the workplace, it is also changing the accuracy of information available, like weather forecasts. Years ago, the weather was calculated by monitoring cloud patterns and astrology. Now, thanks to massive amounts of data and advanced computers it is significantly more accurate. But it is about to become more accurate still – hyper-local real time weather forecasting is just around the corner. Part of the reason weather forecasts are becoming more accurate is the data and variables that can be entered into the predictions.
Big data analytics can even be used to treat Parkinson’s disease. Data collected from hundreds of patients will be used to analyse symptoms of the illness such as sleep quality, slowness of movement and tremor. The findings will be used for drug development, diagnosis and treatment.
While big data analytics is a powerful tool, the right people and technology are still needed to unlock it’s full potential. High volumes of data make accessing results and information in real time a challenge, which is where data analytics software can benefit any organisation. By eliminating the lengthy time process of drawing up the different data and conducting further analysis, computer assisted audit tools (CAATs) allow you to focus on the import part of data analysis – reviewing and reporting the results.