Bigdata – The latest art in decision making – Part 2 - "How Bigdata changes your life"

The below listed are some of the major domains where the Bigdata's potential can be fully realized (Figure 1). There will be a transformative impact across the broad spectrum of everyday tasks and activities, both complex and common. These domains have opportunities with potential to improve efficiency and effectiveness, enabling organizations to do more with less and also produce high quality outputs.

                                                                         Figure 1

Data can also be leveraged to improve products as they are used. For example, a mobile phone that has learned its user's habits and preferences, that holds applications and data tailored to that particular user's needs, and therefore will be more valuable than a new device that is not customized to a users ‘ need.
The use of big data can enable improved health outcomes, lower prices due to transparency, and a better match between products and consumer needs. The use of real time traffic information to inform navigation will create a quantifiable consumer surplus through savings on time spent traveling and on fuel consumption.