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Post 8: (Question 9) Contemporary Applications of Big Data in Business

Big Data as been an integral part of many companies beginning to beat their competition and vastly outperform them. In various industries there are new companies and seasoned competitors that use data based strategies to combat their competition with new innovations in their respective fields. This usage of big data can be seen in almost every sector of every industry whether it be the IT industry or even healthcare. 
In regard to healthcare, data scientists have been continuing to analyse the outcomes of pharmaceutical products and companies have become focused on discovering the risk and benefits that were absent during clinical trials. Big data has been vastly important in analysing the trials and has made the outcomes of future trials more predictable. Those who adopted this method early on have been using data that they have taken from sensors which were embedded in various products from industrial apparatus to kid's toys. This use of big data aids companies determine which products are actually being used in daily life and which are not, thus determining ways to create new services as well as development of future products.  

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