The Analysis of Big Data is a data analysis process from different sources, in order to discover hidden patterns, customer behavior, market trends and unknown correlations in order to help organizations make better business decisions centered.
“The correlation between Big Data, Cloud and Mobility strategies leads to a 53% increase compared to those who do not adopt these technologies.” – Forbes
The emergence of Big Data has allowed organizations to make unorganized data available and to obtain significant insights; the data considered useless in the past have suddenly become a gold mine for companies in every sector.
Here’s how Big Data can help
1) Social listening: Allows you to determine who is talking about your business. The analysis of the brand sentiment presents the kind of detailed feedback that cannot be obtained from regular surveys.
2) Cost reduction: Thanks to Big Data technologies and cloud-based analysis, you can reduce costs when storing large amounts of data and identify more efficient ways of doing business.
3) Comparative analysis: Big Data allows the comparison between products, services and branding reputation with the competition through a cross-examination of the metrics on user behavior and the way in which consumers interact with companies in real time.
4) Marketing analysis: The information acquired from the analysis of market data helps in the promotion of new products or services in a more informed and innovative way.
5) Niche targeting: This large data stream offers the power to explore social media activities on a particular topic from multiple sources in real time, identifying the audience for marketing campaigns.
Here are some suggestions for using Big Data in the company
1) Identify KPIs: Big Data concern the whole picture. On the data you can drill down to discover specific actions that lead to better results. We must start by identifying the KPIs and the people responsible for each state and assigning them the task of tracing the development of a particular indicator.
2) Choose the right data: The data are everywhere: you can not only have access to information in real time, but also get historical information and predict statistics for the future. Therefore, it is important to provide the data creatively, building models that predict and optimize business results.
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3) Get useful information: Large data reports provide information for each department in the organization. The analysis sheds light on all the predefined metrics by the user. The results can be quite interesting and inspire you to make rapid strategic changes.
4) Promote collaboration and cooperation: Big data analysis provides “easily digestible” electronic results, which are strategic and can be sent to key decision makers or employees responsible for a particular task. Employees will be able to make better use of these reports by analyzing various online data sources and collaborating effectively to advance the assigned task.
5) Predictive analysis: The organization can make decisions based on information that could happen in the near future by analyzing Big Data, using the right views and then making better and faster business decisions.
The process of analyzing Big Data is not built in one night! Building data resources takes time and support from the right people. Therefore it is important to rely on people who specialize in big data analysis using the right technology.