What can Big Data do for your Company?

TECH IMPACT As per the report from CtrlS, data centre service provider, if data is properly gathered, stored, sorted and analysed, it can yield business intelligence and knowledge that translates into real world advantages for organizational analyses. Many of the trends and insights cannot be gained without big data.

An online store for example, may not be able to gauge its brand value or properly identify its most valued customers, its most profitable SKU's or the promotions that are most effective, by analyzing just daily or monthly sales and usage data. If it were to analyse every single transaction ever made, every single promotional coupon ever used and other data that it had recorded, it would be able to accurately pinpoint most valued customers, analyse weekly and seasonal sales trends, judge the effectiveness of different promotions and other important data. By analysing social media feeds and mentions of its brand name, the organization could get real time trend analysis of its brand value.

Huge data sets allow much more complex analysis and this makes many unique insights possible, big businesses have been using BI for many years now, to leverage the market advantage.

Challenges of Big Data
Though big data can be a powerful tool if used correctly, it provides many challenges to companies of all sizes. These difficulties are tougher to deal with for SMEs which is why most of these organisations have failed to take advantage of big data till very recently.


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