Big Data Applications Chapter 2

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What is a way retailers can use big data analytics to improve their profitability?

By optimizing their website design

By increasing their advertising spend

By analyzing customer reviews and feedback

By identifying optimal pricing points (correct)

How can big data analytics be used in supply chain optimization?

To optimize supplier performance and transportation routes (correct)

To decrease the number of products offered

To increase the number of warehouses

To reduce the number of suppliers

What is a benefit of using big data analytics in retail?

Increasing the number of employees

Reducing the number of customers

Decreasing the number of products offered

Improving the customer experience and increasing profitability (correct)

What is a use of big data analytics in manufacturing?

Predicting equipment failures Signup and view all the answers

What is a benefit of using the right data analytics approach in the telecommunication industry?

Improving customer service Signup and view all the answers

What is a potential application of big data analytics in climate research?

Improving weather forecasting Signup and view all the answers

What is a benefit of using big data analytics in quality control?

Identifying and improving product quality Signup and view all the answers

What is a type of data used in big data analytics for store layout optimization?

Store traffic data Signup and view all the answers

What is a benefit of big data analytics in the telecom industry?

Establishing extensive networks firmly Signup and view all the answers

In which field can big data analytics be used to analyze large datasets of brain activity and imaging?

Neuroscience research Signup and view all the answers

What is a potential application of big data analytics in genomics research?

Developing new treatments for diseases Signup and view all the answers

What is a benefit of using big data analytics in the telecom industry?

Making informed decisions Signup and view all the answers

What is the primary function of big data applications?

To extract meaningful insights from data Signup and view all the answers

What can healthcare providers use big data analytics for?

To identify patterns and predict patient outcomes Signup and view all the answers

What is one way public health officials can use big data analytics?

To monitor disease outbreaks and identify potential pandemics Signup and view all the answers

What is one potential application of big data analytics in drug discovery?

To identify potential new treatments and therapies Signup and view all the answers

What type of data can be used in big data analytics in healthcare?

Data from multiple sources, including EHRs, insurance claims, and social media Signup and view all the answers

What is the benefit of using big data analytics in healthcare?

To improve patient outcomes and gain a competitive edge Signup and view all the answers

What is the primary objective of using business intelligence in big data applications?

To gain insights into complex datasets and make informed decisions Signup and view all the answers

How can financial institutions use big data analytics to detect fraud?

By analyzing large datasets from multiple sources Signup and view all the answers

What is one way that big data analytics can be used in risk management?

To identify potential risks and develop strategies to mitigate them Signup and view all the answers

How can hedge funds and other financial institutions use big data analytics?

To develop trading strategies based on market trends and other factors Signup and view all the answers

What is one application of big data analytics in finance?

To detect and prevent fraud Signup and view all the answers

What can be used to assess the risk of default in credit scoring?

Large datasets from multiple sources Signup and view all the answers

What is one potential application of big data analytics in astronomy research?

Modeling the formation of galaxies and stars Signup and view all the answers

What is a potential use of big data analytics in ecology research?

Informing policy decisions related to the environment Signup and view all the answers

What can big data analytics help identify in injury prevention?

Patterns in injury data Signup and view all the answers

What is a potential application of big data analytics in sports?

Informing player selection and recruitment Signup and view all the answers

What is a potential use of big data analytics in neuroscience research?

Improving brain-computer interfaces Signup and view all the answers

What is a potential application of big data analytics across multiple fields?

Informing policy decisions Signup and view all the answers