Big Data is a huge data sets that can be analysed to reveal patterns and trends. In the last few years data sets are rapidly increasing and dramatically changing in their complexity. That make for the organisation difficult to be captured, managed, processed or analysed. Conventional technology and tools, such as relational databases and desktop statistics or visualization packages are no longer able effectively process extremely large data sets.
Also many jobs are replaced with software, as many tasks are semi-routine and can be done by a Machine Learning algorithm.
Effective and efficient collection and analysis of big data give organisation complete understanding of their business. Big Data processing time reduced significantly with the latest technology. Through analytics comes the power to give customers what they want instantly.
Immediate processing of big data helps faster to identify organisation’s competitors, which lead to efficiency improvements in their products and services, better customer service and increase sales.
Big data technologies such as Hadoop (with set of tools under Hadoop umbrella) and cloud-based analytics (such as AWS Kinesis) brings significant cost advantages when it comes to storing large amounts of data. They also can identify more efficient ways of doing business.
How particular business can benefit from Big Data?
- Manufacturing companies can reduce development and assembly costs;
- Local businesses can target new customers through advertising their business in close proximity to the store through smartphones and other GPS enabled devices.
- Retailers usually know who buys their products and big data collection helps them to identify who didn’t buy and why they chose not to. That helps to improve supply chain and probably target more efficient marketing campaign.
- Fraud detection and prevention in any industry that processes financial transactions online and quickly take corrective action.
In conclusion, big data gives the ability to work faster, stay agile competitive edge they did not have before. With such a massive amount of information, the data is able to be shaped or tested in a way that the company sees fit.
If you finding yourself in a position how Big data can help your business, please to dot hesitate to make a free quote.