NowComment
2-Pane Combined
Comments:
Full Summaries Sorted

Many Benefits of Big Data Analytics for Your Company

Author: Harnil Oza

Oza, H. (2018, April 12). Many Benefits of Big Data Analytics for Your Company. Retrieved October 15, 2020, from https://www.dataversity.net/many-benefits-big-data-company/


0 General Document comments
0 Sentence and Paragraph comments
0 Image and Video comments


Many Benefits of Big Data Analytics for Your Company

New Thinking Partner Conversation New Conversation
Paragraph 1 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 1, Sentence 1 0
No sentence-level conversations. Start one.

By Harnil Oza|Apr. 12th, 2018

New Thinking Partner Conversation New Conversation
Paragraph 2 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 2, Sentence 1 0
No sentence-level conversations. Start one.

Click to learn more about author Harnil Oza.

New Thinking Partner Conversation New Conversation
Paragraph 3 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 3, Sentence 1 0
No sentence-level conversations. Start one.

Big Data is everywhere. Everyone talks about this concept, but very few could tell you a good list of benefits of Big Data or how it can help your business.

New Thinking Partner Conversation New Conversation
Paragraph 4 0
profile_photo
Oct 15
Gus Daskalakis Gus Daskalakis (Oct 15 2020 12:30PM) : positives of big data more

I feel like this is a very interesting comment. While there are a lot of negative effects of big data, no one has emphasized the positives.

profile_photo
Jun 11
mikeguarnizo mike guarnizo mikeguarnizo mike guarnizo (Jun 11 2023 10:09AM) : big data software for large companies more

For small companies, I don’t think they have a great benefit, but for large companies, yes, because if they work with a lot of data and of enormous size, if they don’t have the necessary software and others, they may have many problems when reading the data and use them, so if you have a large company it is always advisable to have the most up-to-date big data software you can

profile_photo
Jun 11
Douglas King Douglas King (Jun 11 2023 11:41AM) : Many Benefits of Big Data Analytics for Your Company more

With scientific data analysis, you can create predictive models that help you predict customer behavior, such as their propensity to buy a particular product or their likelihood of churn. This will allow you to take preventive action and take action to retain customers and optimize business processes.

profile_photo
Jun 12
Dmitri Starikovski Dmitri Starikovski (Jun 12 2023 12:32PM) : Big Data refers to large amounts of data, both structured and unstructured, that businesses accumulate on a daily basis more

The key is not just the quantity of data but how companies utilize it. By harnessing Big Data, businesses can obtain valuable insights to make informed decisions and plan their strategies effectively. Regarding Data Analysis Services ( https://data-science-ua.com/data-science-outsourcing/data-analysis-services/ , they play a crucial role in leveraging Big Data. These services help businesses interpret and extract meaningful information from their vast data sets, enabling them to identify patterns, trends, and valuable insights. By employing Data Analysis Services, companies can optimize their operations, improve customer experiences, and gain a competitive advantage in the market.

New Thinking Partner Conversation New Conversation
Paragraph 4, Sentence 1 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 4, Sentence 2 0
No sentence-level conversations. Start one.

You could say that Big Data describes huge data volumes, both unstructured and structured, that is generated in a business day after day. However, the amount of data is not as important as what companies do with it. With Big Data, you can get the information you need to make better business decisions and be able to make strategic moves.

New Thinking Partner Conversation New Conversation
Paragraph 5 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 5, Sentence 1 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 5, Sentence 2 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 5, Sentence 3 0
No sentence-level conversations. Start one.

In recent years, there has been an increase in Big Data technology due to the growth of multimedia files, the Cloud, smartphones, and social networks. Now, there are unprecedented amounts of data, and it is up to the organizations to take advantage of this Big Data to extract all the actionable and useful information. Traditional systems can’t analyze, process and store large amounts of unstructured data. Businesses are diverting to Big Data Management solutions to obtain the needed actionable data from unstructured data and to obtain key information for customers and business.

New Thinking Partner Conversation New Conversation
Paragraph 6 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 6, Sentence 1 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 6, Sentence 2 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 6, Sentence 3 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 6, Sentence 4 0
No sentence-level conversations. Start one.

Why is Big Data Different from What We Had Before?

New Thinking Partner Conversation New Conversation
Paragraph 7 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 7, Sentence 1 0
No sentence-level conversations. Start one.

In the past, people used systems to extract, transform and load data (ETL) from gigantic Data Warehouses that had Business Intelligence solutions built on them to obtain reports. Periodically, all the systems made backup copies and combined the data into a database where the reports could be executed, and everyone could have an idea of what was happening.

New Thinking Partner Conversation New Conversation
Paragraph 8 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 8, Sentence 1 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 8, Sentence 2 0
No sentence-level conversations. Start one.

The problem is that the database technology simply could not handle multiple continuous streams of data. It could not manage the data’s volume. It could not modify the input info in real-time, and the reporting tools that existed could not handle anything other than a relational query on the backend.

New Thinking Partner Conversation New Conversation
Paragraph 9 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 9, Sentence 1 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 9, Sentence 2 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 9, Sentence 3 0
No sentence-level conversations. Start one.

Big Data solutions enable reporting interfaces, extraction capabilities, automatic file, optimized and highly indexed data structures, and Cloud hosting that have been developed to offer more correct analyzes that allow companies to decide better. Companies will make better decisions that increase the effectiveness of sales and marketing and reduce costs with better decision making. iPhone app development allows the use of Big Data in iPhone apps which will make it easy to manage businesses.

New Thinking Partner Conversation New Conversation
Paragraph 10 0
profile_photo
Oct 15
Gus Daskalakis Gus Daskalakis (Oct 15 2020 12:32PM) : positive more

Big data essentially makes companies more efficient and reliable. Real time information means more accurate data models, which means companies can produce better products for their users.

New Thinking Partner Conversation New Conversation
Paragraph 10, Sentence 1 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 10, Sentence 2 0
No sentence-level conversations. Start one.

Benefits of Big Data Analytics

New Thinking Partner Conversation New Conversation
Paragraph 11 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 11, Sentence 1 0
No sentence-level conversations. Start one.

Big Data Management solutions provide companies the ability to add a variety of data from hundreds of different sources in real time. This means that you can increase the client’s commitment since you can have more effective interactions with them and better marketing proposals, which ultimately lead the company to achieve a longer and more profitable relationship with the client.

New Thinking Partner Conversation New Conversation
Paragraph 12 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 12, Sentence 1 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 12, Sentence 2 0
No sentence-level conversations. Start one.

Big Data Analytics, made with advanced Big Data Analytics solutions, provides organizations with complete customers’ profiles, which allows for more personalized customer experiences at each point where contact is made throughout the entire journey of the company.

New Thinking Partner Conversation New Conversation
Paragraph 13 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 13, Sentence 1 0
No sentence-level conversations. Start one.

Big Data Management solutions eliminate data niches, so that organizations can obtain a unique view of the customers that include countless descriptive, calculated and industry-specific metrics that allow for the construction of a detailed record of the behavior of each client. These profiles provide organizations with a global understanding of their clients through in-depth knowledge of the client and its operations.

New Thinking Partner Conversation New Conversation
Paragraph 14 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 14, Sentence 1 0
profile_photo
Oct 23
Gus Daskalakis Gus Daskalakis (Oct 23 2020 2:12PM) : detail more

Even though this paragraph is about the benefits of big data, it also acknowledges that big data collects detailed knowledge about users.

New Thinking Partner Conversation New Conversation
Paragraph 14, Sentence 2 0
No sentence-level conversations. Start one.

Big Data can be intimidating, but with a good Big Data Management solution, your organization can address the data it needs to obtain actionable information and increase the value of the entire relationship with the client. Apps developed by a smartphone app development company can be used to sustain a good relationship with your clients.

New Thinking Partner Conversation New Conversation
Paragraph 15 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 15, Sentence 1 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 15, Sentence 2 0
No sentence-level conversations. Start one.

The reality is that the as data volumes continue to increase, its promise for companies also appears to exponentially grow. This allows companies to convert raw data into relevant projections, predictions, and trends with accuracy. A list of some of the benefits of Big Data Analytics could include:

New Thinking Partner Conversation New Conversation
Paragraph 16 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 16, Sentence 1 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 16, Sentence 2 0
No sentence-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 16, Sentence 3 0
No sentence-level conversations. Start one.
  • It can provide ideas from huge amounts of data from multiple sources that include those that come from external third-party sources, the internet, social networks, those already stored in company databases etc.
  • New Thinking Partner Conversation New Conversation
    Paragraph 17 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 17, Sentence 1 0
    No sentence-level conversations. Start one.
  • Real-time forecasting and monitoring of occasions that may affect the performance or operations of the businesses.
  • New Thinking Partner Conversation New Conversation
    Paragraph 18 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 18, Sentence 1 0
    No sentence-level conversations. Start one.
  • Capability to locate, get, extract, change, analyze, and blend data with different tools.
  • New Thinking Partner Conversation New Conversation
    Paragraph 19 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 19, Sentence 1 0
    No sentence-level conversations. Start one.
  • Identification of important information that can improve the quality of decision making.
  • New Thinking Partner Conversation New Conversation
    Paragraph 20 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 20, Sentence 1 0
    No sentence-level conversations. Start one.
  • Ability to mitigate risks by optimizing complex decisions about unplanned events more quickly.
  • New Thinking Partner Conversation New Conversation
    Paragraph 21 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 21, Sentence 1 0
    No sentence-level conversations. Start one.
  • Identification of the causes of failures and problems in real time.
  • New Thinking Partner Conversation New Conversation
    Paragraph 22 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 22, Sentence 1 0
    No sentence-level conversations. Start one.
  • Full understanding of the potential of data-driven marketing.
  • New Thinking Partner Conversation New Conversation
    Paragraph 23 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 23, Sentence 1 0
    No sentence-level conversations. Start one.
  • Generation of offers to customers based on their purchasing habits.
  • New Thinking Partner Conversation New Conversation
    Paragraph 24 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 24, Sentence 1 0
    No sentence-level conversations. Start one.
  • Improvement of the commitment of the client and increase of his loyalty.
  • New Thinking Partner Conversation New Conversation
    Paragraph 25 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 25, Sentence 1 0
    No sentence-level conversations. Start one.
  • Reevaluation of the risk portfolio quickly.
  • New Thinking Partner Conversation New Conversation
    Paragraph 26 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 26, Sentence 1 0
    No sentence-level conversations. Start one.
  • Customization of the customer experience.
  • New Thinking Partner Conversation New Conversation
    Paragraph 27 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 27, Sentence 1 0
    No sentence-level conversations. Start one.
  • Adding value to the interactions with online and offline customers.
  • New Thinking Partner Conversation New Conversation
    Paragraph 28 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 28, Sentence 1 0
    No sentence-level conversations. Start one.

Another way to see the benefits of Big Data is through these eight qualities required by companies and that are present in the Big Data:

New Thinking Partner Conversation New Conversation
Paragraph 29 0
No paragraph-level conversations. Start one.
New Thinking Partner Conversation New Conversation
Paragraph 29, Sentence 1 0
No sentence-level conversations. Start one.
  • Big Data is Timely: 60 percent of each work day, knowledge workers spend it trying to find and manage the data. Big Data can provide timely reports immediately.
  • New Thinking Partner Conversation New Conversation
    Paragraph 30 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 30, Sentence 1 0
    No sentence-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 30, Sentence 2 0
    No sentence-level conversations. Start one.
  • Big Data is Accessible: Half of senior executives indicate that access to correct data is often difficult.
  • New Thinking Partner Conversation New Conversation
    Paragraph 31 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 31, Sentence 1 0
    No sentence-level conversations. Start one.
  • Big Data is Holistic: The information is currently stored in silos within many organizations. Marketing data, for example, can be found in web analytics, mobile analysis, social analysis, CRM systems, A/B testing tools, email marketing systems, and many other sites each with its focus on its silo.
  • New Thinking Partner Conversation New Conversation
    Paragraph 32 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 32, Sentence 1 0
    No sentence-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 32, Sentence 2 0
    No sentence-level conversations. Start one.
  • Big Data is Reliable: Things as simple as securing the correct contact data of customers through the review of multiple systems can save thousands of Dollars in incorrectly sent communications.
  • New Thinking Partner Conversation New Conversation
    Paragraph 33 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 33, Sentence 1 0
    No sentence-level conversations. Start one.
  • Big Data is Relevant: 43 percent of companies are not satisfied with the ability of their tools to filter irrelevant data.
  • New Thinking Partner Conversation New Conversation
    Paragraph 34 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 34, Sentence 1 0
    No sentence-level conversations. Start one.
  • Big Data is Safe: A breach of data security costs hundreds of dollars per customer.
  • New Thinking Partner Conversation New Conversation
    Paragraph 35 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 35, Sentence 1 0
    No sentence-level conversations. Start one.
  • Big Data is Precise: Businesses have difficulty with multiple versions of the fact based on the supply of their info. Combining multiple reliable sources, businesses can create accurate correct of intelligence.
  • New Thinking Partner Conversation New Conversation
    Paragraph 36 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 36, Sentence 1 0
    No sentence-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 36, Sentence 2 0
    No sentence-level conversations. Start one.
  • Big Data is Usable: Many companies make bad decisions due to obsolete or bad data. Big Data can ensure that the data is usable without fear of mistakes.
  • New Thinking Partner Conversation New Conversation
    Paragraph 37 0
    No paragraph-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 37, Sentence 1 0
    No sentence-level conversations. Start one.
    New Thinking Partner Conversation New Conversation
    Paragraph 37, Sentence 2 0
    No sentence-level conversations. Start one.

DMU Timestamp: October 08, 2020 22:04

General Document Comments 0
New Thinking Partner Conversation Start a new Document-level conversation

profile_photo
May 20
Ivan Keith Ivan Keith (May 20 2022 4:26PM) : How is Big Data Analytics Helpful for Security Intelligence? more

Hi there. Thanks for sharing the valuable information. I found this article very helpful. I would love to read more from you. Keep up the good work.
I have read a similar article on How is Big Data Analytics Helpful for Security Intelligence?. Please do check it out.

Image
0 comments, 0 areas
add area
add comment
change display
Video
add comment

Quickstart: Commenting and Sharing

How to Comment
  • Click icons on the left to see existing comments.
  • Desktop/Laptop: double-click any text, highlight a section of an image, or add a comment while a video is playing to start a new conversation.
    Tablet/Phone: single click then click on the "Start One" link (look right or below).
  • Click "Reply" on a comment to join the conversation.
How to Share Documents
  1. "Upload" a new document.
  2. "Invite" others to it.

Logging in, please wait... Blue_on_grey_spinner