Business impact of big data
Business impact of big data
Big data is getting more popular as the days are passed. Because everyone is using big data even many companies are telling that it is very effective and it has positive effect on business. Business operations are easier to be done. From past 2 years the problem of overwhelming amount of data is solved. Big data is getting more usable as the datasets are increased. Big data term is used for the series of techniques to describe the storage, analysis of large and complex datasets. In 2015 many jobs are created for the support of big data. An IT company and a health care center has hug dataset with massive information so they use the big data technology to make the system more efficient, it also increased the performance of everyone within an organization.
Key benefits of using big data in business:
- Target better with customers need
- Risk analysis
- Keep data safe
- Redevelop product
- Create revenue streams
- Customize the website in real time
- Reduce cost for maintenance
- Take smarter decisions
- Store and maintain the data
- Offer wide enterprise insights
Data asset: using big data techniques data is asset for every business. If you are running a business and it has social connectivity and credit card payments then a business person has tom save the data of every single people. It increases the web traffic and in this way every business need big data techniques to handle the data. In this way data is an asset and improve the business.
Customer intelligence and market: it redevelops the business plans according to the customer need and generates the revenue ideas for the business. It increases the market details, and tells us about the time change and demand of the customer changed.
Internal efficiency improve: using tracking system and sensors we can increase the performance of the business. It can also improve the business, employee, and shipment performance. Use the sensors to track employee movements.
Data is collected by big data techniques and it improves the product quality and the customer experience.
Impact of Big data on an organization: Impact of big data on different industries is more and now days everyone needs big data techniques to handle and up to date.
- Banking: big data is widely used in financial industries because big data is used for trade analysis, decision making, risk analysis and predictive analysis.
- Media and entertainment: In media and entertainment big data major benefits are video publishing, media owners’ copyright and content distribution mediums, gaming like online and offline gaming data and TV channels for the mass population
- Healthcare: medical data is really a big data. It includes many forms of data. It stores the
- Instrumentation data like sensors, monitors, RFID, barcodes, video feeds etc.
- Diagnostic data like images, vital sign monitors, blood test results etc.
- Unstructured data like social media discussions, diaries, consultation recordings
- Structured data like ERP, Hospital or clinic information, payment, prescriptions
- Manufacturing: manufacturing industry is a big industries it has many sub divisions and sub processes and each divisions need supervision so that data is also in high volume and velocity. From planning, raw material, developing and designing packing everything need a database for effective work.
- Oil and Gas Natural resources: natural resources from extracting to buyer and seller need the big data techniques to handle the data. It helps in transportation and distribution channel. It also analysis the price.
- Retail counter: retail counter also need the big data techniques because every customer need the retail counter to buy an item. Many retail businessmen adopted the new technology cashing payment and selling. It updates the system; maintain it and analysis of sales and profit.
- Transportation: traffic control, route planning and congestion management are the key functions for the big data in transportation.