Harlan Ellison, the famous American writer, once suggested that the two most abundant things in the universe are Hydrogen and stupidity. Now it’s time to consider ‘Data’ as the third most copious thing in the world. No matter what you do, where you go, how you do – one’s day-to-day life has turned out to be a piece of beneficial information for someone. And have you ever thought this data could boost sales or increase profit for a business? Yes. The best example is Amazon.
So how do we do it? We do it with “Big Data.”
Advanced technology and reliable networks have led billions of users to connect and share information across the world. “Big Data” refers to the massive amount of data produced by these millions of users through social media platforms, IoT devices, and many more. They can be
“Big Data” technologies help in the easy storage of this massive data, and the data stored will be accurate.
Big data tools are used in industries like healthcare, retail, education, government, finance & banking, manufacturing, and technology.
Businesses use this tool to find what impacts their business goals. For example, the healthcare industry gets a massive amount of data every day, and it becomes a challenge to analyze all data effectively. “Big Data” tools focus on giving insights into hospital management, patient records, costs, diagnosis, and more. Thus it elevates patient care efforts, provides a better customer experience, and improves existing procedures in a cost effective way. Other best business examples are Netflix, Spotify, LinkedIn, Swiggy, etc.
Thus “Big data” allows businesses to:
-Target the right audience
-Make right decisions (right products at the right time)
-Formulate marketing strategies
-Meet customer demand
-Improve customer experience
-Make real-time decisions
-To grow strong co-worker relationship
-For better CRM (customization & personalization)
At Moonhive we use “Big Data” to analyze your business, and ensure a good return on investment with the help of our expert team. The future of your business lies in exploring an unending scope of data that analyses all factors critical to a decision.