Trending now: Big Data Analytics
Big data is coming from different variety of sources with a high velocity and it has a huge volume. and it will continue to grow bigger and bigger every day, every minute, every second.
All the social media activities of individuals, all sensors around as, GPS data, every digital process, every like and follow in the internet, every supermarket shopping, the digital bracelets you wear in disneyland tour, our mobile devices continuesly creating data and this data is being stored without being ever deleted.
Companies who can use such big amount and variety of data for analysis can gain profit from this making better decisions and reducing their risks. But it is not as easy as it sounds.
How does it work? How it can impact your business for better? Watch the video below for a simple example:
Big data can be used for time&cost reduction, new product development and smarter decision making in the business.
Examples how your organization can profit using big data analytics;
- Route optimization for thousands of trucks/packages while they are still on the way
- Real time determination of root causes of issues, failures and defects; preventing loss of huge money.
- Analyzing SKUs and finding out what are the most profitable ones.
- Analyzing inventory value in real-time
- Sales management and quick decision making on the price of goods/services.
- Understanding consumer behaviour and finding out ways to increase sales based on past customer purchase preferences.
- Sending advertisements to people via mobile devices while they are nearby so they can easily direct to the location you recommend.
- Recalculate risk portfolios quickly and take aciton.