In our previous article, we discussed graph analytics which is the future data analysis technology. In this article, we mention the usage areas of this method in more detail.
All firms from different sectors take advantage of this method if they have a large volume of data. On the other hand, the use of this technology is now indispensable for some sectors.
Before discussing the problems that can be solved with graph analytics, we recommend you to take a look at our previous article about graph analytics.
Centrality Analysis: It provides an estimate of how important a node for network connectivity. For example, finding the most influential people in a social network or detecting the most accessed web pages can be determined in this way.
Community Detection: It enables the identification of groups of people who frequently interact with each other in a social network through the closeness and intensity of relationships. It can also be used to determine whether individuals are temporary or not and whether the network will grow or not. Community analysis also concerns with identifying behavior patterns of communities.
Connectivity Analysis: This method is used to determine how strong or weak the connection between two nodes is.
Path Analysis: The relationship between nodes in a graph is analyzed with this approach. In other words, it is a method to determine the shortest path between two nodes.
So, which sectors can benefit from these methods?
Crime and Fraud Detection
Graph analytics are used to detect illegal activities such as crime, fraud or money laundering. In order to identify criminals and fraudsters, analysts reveal the data connections related to suspicious activities by using this method. Public security units and intelligence agencies, as well as banking and financial industries, actively benefit from this method. For example, activities such as suspicious money transfers and customer transactions can be detected quickly by analysing the relationships between the data of the related individuals.
Considering the pandemic, the usage of graph analytics for the health sector is crucial. Graph databases are very effective in tracking the spread of the virus at this point. For example, the spread speed of the virus can be observed through network analysis by tracking the movements of a person who has a positive test result and people with whom this person will or may be in contact. Gartner mentions that “graph technologies can relate entities across everything from geospatial data on people’s phones to facial-recognition systems that can analyse photos to determine who might have come into contact with individuals who later tested positive for the coronavirus”.
This technology can also be used to scan thousands of data sources and to support healthcare professionals in discovering new possible treatments or factors that have more negative consequences for some patients.
Social Network Analysis
It is possible to determine the influencers and communities through social media networks such as Instagram, Spotify and LinkedIn with centrality analysis. Various marketing activities can be carried out and communication strategies can be created based on the results obtained from centrality analysis.
Social networks can suggest “people you may know” or “songs you might like” thanks to graph analytics. The collaboration filtering method is widely used by recommendation engines to provide us personalized recommendations. Not only social networks use this method, but also e-commerce websites benefit from graph analytics to provide the most relevant search results considering the user’s purchasing history.
Supply Chain Optimization
Graph analysis algorithms such as shortest path and partitioning can be used to optimize routes in airlines, transportation networks and supply chain networks.
Companies that provide services such as water, sewage services, electricity, dams and natural gas use graph analysis to create the most suitable distribution network.
Graph technology has different uses in many other sectors. You may contact us to benefit from the best relevant data analytics technology for your goals.