123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Career >> View Article

How Does Big Data Help In Building A Successful Business?

By Author: Kartik Patel
Total Articles: 22

Data science is the new sexy. It is one of the most hyped concepts in the business world. Most businesses around us are mining data and deriving valuable insights to improve their productivity and profitability. Do you still think Big Data is an irrelevant term for your business?

Slowly but surely, Big Data is having an impact on the way business is run. No matter what kind of industry you represent, collection, analysis and interpretation of data is the key for grabbing the mind share of customers while keeping the organization profitable. Here’s how Big Data can help you in building a successful business:

Reduced Cost

Businesses avoided Big Data because of the high cost of data storage. But, several tools such as Hadoop, Cloudera, Hortonworks, Amazon Web Services, etc. are available in the market that help you to manage data efficiently. Big Data can even help you to reduce your cost overheads. Once you analyze the data, you will be able to identify errors in the process and ascertain opportunities for cost reduction. For example, Google Analytics allows you to understand customer behavior on your webpage and gives you an opportunity to make quick changes.

Better Decisions

Big Data allows you to access information in real time. You can assimilate data and gather valuable information quickly to take advantage of changing business environment. Also, with a vast quantity of data at your disposal, you will be able to understand the impact of past decisions. It enables you to improve business decisions such as prices, products and promotions and increases profits.

Improved Customer Relations

Today, consumers engage with brands more frequently than ever! Before hitting the “Buy” button, they like to talk to the business via multiple social media platforms. Big Data allows businesses to participate in one-on-one conversations seamlessly. For example, a telecommunications company can check a customer’s preferences by digging into his profile. It will enable the company to customize its products and services to suit the customer’s needs.

Your Business and Big Data: How to begin?

As a business, your job doesn’t end with investing in Big Data technology. Remember obtaining data from different vendors is easy but possessing the skills to leverage that information is difficult. If you don’t have the required analytical skills to organize and interpret the data, it will not profit your business. So, it is necessary to hire data scientists who can derive meaningful information from raw data. It will ensure that you get adequate time to focus on your core business and still enjoy the many benefits of Big Data.

Bottom line: Do not simply invest in Big Data technology. Instead, set up Big Data team in your organization and create a competitive edge over others.

Need to build a Big Data team for your business? Work with Optimal Infosystems, NJ-based IT staffing company, to find the best IT professionals who can organize raw data and derive insights to take your business to newer heights.

Total Views: 30Word Count: 484See All articles From Author

Career Articles

1. All You Need To Know About The Benefits Hr Data Analytics
Author: Deepthi Udyawar

2. Home Business Coach: Design Your Business Plan Clearly
Author: Ian Marsh

3. Australia: The Most Popular Destination For #skilled Professionals.
Author: Visa4you Pune

4. What Career Path To Follow To Be A Success In Construction Industry?
Author: Graeme Hick

5. Online Jobs: The Trend Of (a Lot Of) Earning From Everywhere But Where?
Author: Aman

6. Why Corporate & Sme's Choose Recruitment Firm For Hiring
Author: Nirmal Patel

7. Govt Jobs 2018
Author: Sarkari Naukri

8. Awful Issues You May Face While Finding A Job Consultancy
Author: Steve Atkinson

9. Avail Different Job Openings With Reliable Professional
Author: Steve Atkinson

10. Are You A Business Consultant That Have Specialised Skills You Can Use?
Author: Ian Marsh

11. Plan Your Future With The Best Overseas Job Consultants In India
Author: M.Gheewala

12. Photojournalism- A Lucrative Career Choice
Author: Shlok

13. Importance Of Fashion Photography In The Fashion World
Author: Shlok

14. What Is The Requirement Of Food Photography?
Author: Shlok

15. Professional Photography- A Perfect Career Choice
Author: Shlok

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: