Why Your Company Needs To Care About Big Data
Processed data is information. Processed information is knowledge Processed knowledge is Wisdom.
By SAROSH SYED
First of all, lets clear out the buzzwords, which are big data, artificial intelligence and digital automation.
I am sure they may sound nice, but the main question is, how might they be helpful to you?
To have a clear-cut understanding, let’s first understanding what big data:
“Big Data is tremendous amount of information which lies within your company, which can be termed as Gold as long as you know how to Use of it, but most of the companies don’t! “
In today’s world, you can almost track everything. Artificial intelligence can help you track big data trends & which can help you with your decisions.
Now that you have Big Data, how do you use it?
A Big Data Analysis system can match your order history, other customers’ behavior, your address and on this basis, it can give you order suggestions. The system finds hidden patterns and correlation. It finds changes in your life as well as your past and current preferences. Suggestions are possible thanks to Big Data Analysis. That is a process that highlights data meaningful for you which can be used to give you
“Big data is high-volume, high-velocity and/or high-variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation. — Gartner
Now we will look into 5 ways Big data can improve your business:
Big data analytics helps organizations in scraping, past and new information, to find out a similar pattern. Big Data and Artificial Intelligence are also useful to compare past and present.
With a strategy based on experience and market forecasts, you can make better data-driven decisions. Using data smarter, you move your business forward with more efficient operations.
Better decision = reduction in costs
Identify New Opportunities:
You can use big data to outperform your competition by capturing and innovating through big data. This is why you’ll find examples of it being used in almost every sector today. Companies are using it to discover flaws in their services and products, suppliers and buyers, and consumer intent and preferences so they can create newer, better ones. You can even create new revenue streams, with big data in place, you’ll have insights that are based on analyzing your market & its consumers.
New opportunities = New incomes
Using Big Data, you can identify more efficient ways of doing something.
Repetitive processes cost significant money. Automating, an index, a bibliography, a financial report, is more accessible today. Set up a good Big Data analysis and an Artificial Intelligence system trained to do that.
Time-saving = costs reduction
Proactive to The Market
Using Big data, you can refine your marketing efforts.
To give you a few examples:
Segmenting your CRM data, you can roll new offers faster than your competitors.
Analyzing trending conversations, you can target specific customer groups. Crossing data and applying Artificial Intelligence you can support a personalization strategy.
So, you give to your sales department a competitive advantage.
They better approach the right prospects in the right way and with a custom-shaped offer
Pro-activity = New incomes
Pro-activity approach to the market also brings to a customer-centric personalization strategy.
Big Data analysis and Artificial Intelligence together reinvent the business.
Even the traditional call center activity could take advantage of these technologies.
The digital automation system:
- Analyze the historical data.
- Cross them with real-time trends.
- Do meaningful segments.
Using big data analytics in your company will help you thrive in your business and gives you a more data driven approach which is the future.