Types of Problem Suited to Big Data Analysis(2)

Bilal hussain malik  

                                           Types of Problem Suited to Big Data Analysis


                                                   

                                                         Real Time Decision Making  


The instantaneity of the digital economy today enables big data to enable organizations to make real-time, data-based decisions that confer competitive advantage. Retail giants like Amazon employ real-time analytics to dynamically change product prices in real time in response to changes in demand, competitor price action, and inventory levels - sometimes changing prices every few minutes in a bid to drive sales and profit maximization. Similarly, financial markets employ high-speed trading systems that handle market data in milliseconds, processing thousands of transactions per second to benefit from infinitesimal price differences. These applications need ultra-low latency processing capabilities in order to remain ahead of their competitors in highly competitive markets. Beyond commerce, smart cities are implementing real-time traffic management systems that handle live GPS feeds from vehicles and IoT sensors to dynamically determine traffic light timing and reduce congestion.

 Los Angeles' traffic management system, for instance, saved 12% of travel time by optimizing the patterns of traffic signals in real time round the clock based on current road conditions. The technical infrastructure that enables such real-time decision-making is strong stream processing environments such as Apache Kafka and Flink that can consume large, continuous data streams instantaneously. These are backed by AI-based optimization algorithms, which continually adjust key variables - product prices, trade executions, or traffic lights - depending on shifting conditions. Used in combination, these big data offerings transform unanalyzed, high-volume information into immediate business value, demonstrating the potential of real-time analytics to create smarter, more responsive systems across industries. The ability to analyze and react to information in real time has emerged as an essential differentiator in our increasingly interconnected world. 


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