Many companies, be it a start-up or a well-established organization, are now taking advantage of big data analytics to stand out from the competition. It is revolutionizing the healthcare industry, banking sector, retail industry and other sectors that are now greatly improving their business outcomes and customer relationships.
Big Data is rapidly being adopted by several companies because it enables real-time testing of business goals and strategies. It not only creates new growth opportunities for existing businesses but also creates new categories of companies that gather and analyze industry data about products and services, suppliers and buyers, customer expectations and market trends.
Here is how big data analytics changing the business landscape?
- Optimize business operations: With the advanced analytics and high-end computing hardware, organizations are now able to analyze data more comprehensively and improve business operations. Big data analytics help organizations in advance decision-making, mitigating risks and unleashing insights that may prove to be useful for the development of the organization.
- Respond faster: Big Data analytics let organizations make better business decisions and execute them in a short time. It allows users to work with the vast data without going through complex technical steps. This kind of abstraction helps businesses mine data for specific purposes.
- Enhance the quality of services: Big Data analytics combines analysis, data and processing to generate real business value. The ability to mine more data, run detailed analysis and deliver faster results has the ability to improve services. It also allows segmentation of customers so that business can provide tailored products or services to them.
- Deliver relevant, customer-focused communications: Using mobile technologies, businesses can now track the geographical location of customers at any point of time. This helps marketers serve customized message to their target audience to help them make a buying decision. They can also contact a few people who responded to a marketing ad in the past or run test strategies on some people.
The Bottom Line
More and more organizations are now realizing the importance of being a data-driven enterprise. As a result, they are focusing their attention towards advanced big data analytics tool. Social media marketers have also recognized the opportunities to generate revenue from the data they collect by selling ads based on user’s interests and past purchases. This lets companies target individuals that fit an ideal prospect profile.
About Luke Lonergan
Luke Lonergan has been working over Big Data and Cloud Computing since last decade. Luke is a prominent figure in San Francisco and working over business security through Cloud Computing. Luke Lonergan is also the co-founder of Greenplum Big Data company.