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Big Data in Businesses




Big Data is simply the collection, processing, and analysis of huge data sets from traditional or digital means which deliver business intelligence for companies to enhance their services or create a new competitive advantage. Raw data which provides at best basic information is generated at an alarming rate of multiplication since 2000. This is fuelled by the emergence of social media and the proliferation of mobile devices leading to mobile computing.  The crucial challenge for long-term survival and relevance for every business is to convert information to insight and finally to intelligence as quickly and efficiently as possible.

Businesses and Big Data Analytics

        Big Data analytics tools and techniques are rising in demand due to the use of Big Data in businesses. Organizations can find new opportunities and gain new insights to run their business efficiently. These tools help in providing meaningful information for making better business decisions. The companies can improve their strategies by keeping in mind the customer focus. Big data analytics efficiently helps operations to become more effective. This helps in improving the profits of the company. Big data analytics tools like Hadoop helps in reducing the cost of storage. This further increases the efficiency of the business. With latest analytics tools, analysis of data becomes easier and quicker. This, in turn, leads to faster decision making saving time and energy.
Big Data is important to business, the reason are :
  • ·      To understand the market conditions, like for analyzing. Big Data helps understanding current market conditions. For example, by analyzing customers’ purchasing behaviors, a business can find out the products that are sold the most and produce its future products according to this trend.
  • ·    To understand customers better. A business can understand its customers better with the help of big data analysis. It can predict what its customers want in advance and provide them a better service in addition to better products. Also, businesses can minimize customer complaints easily using big data tools, since these tools can automatically detect negative comments on social media.
  • ·   To control your online reputation. This means Big Data tools can do sentiment analysis. Therefore, you can get more feedback about who is saying what about your company. If you want to monitor and improve the online presence of your business, then, big data tools are a must-have for you.
  • ·    To cost savings, implementing big data tools may be expensive at the beginning but it will eventually save you a lot of money. Big data tools reduce the burden of IT staff, since they are real time systems. Therefore, you can use these resources somewhere else. Also, storing large amounts of data is much easier using big data technologies but more importantly, the data you store will be accurate because big data tools has greatly reduced the risk of inaccurate data.
At the end, the importance of big data analytics leads to intense competition and increased demand for big data professionals. Data Science and Analytics is an evolving field with huge potential. Data analytics help in analyzing the value chain of business and gain insights. The use of analytics can enhance the industry knowledge of the analysts. Data analytics experts provide the organizations a chance to learn about the opportunities for the business. There are huge requirements and significance of big data analytics in different fields and industries. Hence, it becomes essential for a professional to keep oneself abreast of these techniques. At the same time, the companies can gain a lot by using these analytics tools correctly.
TASYA DWI AMALIA
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