Advantages of Big Data
As we know data size is increasing very fast. Big Data is an emerging avenue for productivity and innovation. Such huge volume of data if processed properly can lead to huge changes in current business and other related activities.
Big Data is all about analyzing this variety of data and finding the needle of value from this huge data. Business can use this to track different patterns to do advance analytics that help significantly in decision making. Business can get 360 degree of customer view by analyzing data of customer from different sources like sales data, social media, etc. The systematic study of Big Data can lead to:
Understanding target customers better – Big data is used by business today for analyzing sentiments of the target customers and providing them better services to increase the business.
Cutting down in expenditures in various sectors – Analysis of such huge volume of data has also helped business in cutting down their expenditures in various sectors wherever possible. Several billions of dollars being saved by improvements in operational efficiency and more.
Increase in operating margins in different sectors – Big Data also helps industries in increasing operating margins in different sectors. With the help of Big Data, lot of manual labour can be converted into machine task and this helps in increasing operating margins.