A decade ago, huge companies like Google, Yahoo and Facebook explored the concept of Big Data for their businesses and understood the impact that it would bring to the rest of the world. To manage data i.e. store, process and analyses, companies began to use this new found solution to make better and more agile decisions in real time. It brought about a transformation across industries like Healthcare, Retail, travel and hospitality and the Government.
Let me give you a few examples:
In customer centric industries like hospitality, big data analytics helps collect customer data, use analytics and pre-emptively identify potential problems. Analytics is also a huge blessing to the healthcare industry especially with patient records and insurance so live saving diagnosis can be provided immediately.
Analytics could be used across industries to promote the agility and overall performance that could once only be unachievable. Tools like Hadoop increases the company’s chance to be coordinated, imperative and also gain from business insights. You can learn more and make the most of analytics through this Leading SAFe course.
From the numerous advantages big data analytics has to offer, we have hand-picked a few:
- Problem solving capabilities:
With Big Data Analytics, you can understand the pros and cons of your strategy, understand the bottlenecks and deliver better business outcomes.
Using analytics, businesses will understand what their consumers need and create or modify their products or services thereby improving their sales numbers.
- Better decisions:
When you want to bring about transformation or excellence, you need to take calculated risks and decisions that enable this. Analytics provides valuable insights that could enhance your decision making process.
- Predict the future:
With predictive analytics, it becomes easier to understand consumer or business patterns which allows you to modify your strategy to stay ahead of your competitors and plan for the future needs of your business.
- When you want to go online:
With Big data’s sentiment analysis, you can learn what reputation your company holds in the web space. You could monitor and enhance the company’s online presence using various tools that big data has to offer.
Big data analytics is used almost equitably by all industries to stay ahead of their competitors. It adds value, pushes you to make big decisions and innovate regularly so that you could grow and expand to new fronts.
It creates several opportunities for the organization in terms of growth and expansion and gives a better understanding of what’s out there in the industry through its analysis. If you are keen on becoming a data analyst, you could quickly take up on this data analyst course and explore the vast opportunities that await you. Combined with analytics course could also enhance the project’s value add to clients.
If the positives of big data are exploited, companies can deliver better value to customers, boost productivity and create a transformational change in the economy. This will, in turn, open new avenues of competitiveness and better products and services for the community.