Amazon with the support of Big Data Analytics targets potential buyers with suggestions like ‛Frequently purchased together’. Ever wonder why they do so?
How Do Big Data Services and Analytics Tech Trends Complete Each Other?
Big Data can be defined as expansive arrangements of structured and unstructured data, which can’t be controlled by conventional techniques. Big Data Analytics can help your business support itself effectively with the presentation of solid scientific arrangements. Today, a business needs more extensive web vicinity as well as the arrangements that assist businessmen in making favorable strategic decisions, minimizing risks and providing tailored services to meet potential customers’ needs and thereby stand out in today’s competitive business environment.
For instance, Big Data Analytics can help your business to learn how others see your products so you can adjust your advertising strategy accordingly. One example of unstructured data is reviews for products and services that can be found online. Examination of unstructured online content permits you to reveal the priorities of your clients amongst a wide demographic area.
Amazon corporate offices have successfully been able to make use of cloud computing and Big Data Analytics in order to boost profits. The successful use and implementation has helped Amazon in boosting its revenue by 20%.
Can Big Data Analytics Improve Business Efficiency?
The failure to process unstructured data and use it to one’s advantage is especially an issue for many small and medium sized businesses. Big Data Analytics has come to the rescue of businesses, by allowing them to analyse trends, forecast the future of relevant industry and make better decisions.
Businesses have data in abundance, yet uncovering quality from this data is tricky. Financial institutions, non-benefits, banks, government offices and people are taking an approach towards joining data from unstructured origins in the hope that it will prompt better decision and growth.
How Can Big Data Analytics Uncover a Business Opportunity?
Businesses are understanding that particular properties of Big Data Analytics are appropriate to address their prerequisites in studying their target segment, their pain and subsequently customizing their services to fit appropriately.
Big Data Analytics drives advancements by assisting businesses with settling on best conceivable choices through utilization of predictive analytics and intelligent data mining. In short, a calculated approach to figuring out solutions for determining better business opportunities.
How Has Hexanika Deployed Big Data?
Hexanika software products help banks in data management and reporting to regulators. Hexanika’s innovative solutions aim to assist banks to solve critical data integration issues and meet regulatory requirements. The connectivity to Business Analytics and Intelligence tools in our software can assist banks in coping with rapidly changing regulations.
Our experienced team will customize ready to deliver solutions for your banks and businesses in financial services industry. This will help you to make vital, information driven choices to enhance business procedure and execution.
In the final analysis, Business Analytics will be key for organizations wishing to anticipate patterns, trends and changes in a mixed pot of finance, banking, and monetary areas.
Image taken from: http://labs.sogeti.com/big-data-analytics-in-2015-development-of-open-innovation-platform-to-drive-business-results/
Related articles: http://datascienceseries.com/stories/ten-practical-big-data-benefits
http://www.forbes.com/sites/gilpress/2014/09/03/12-big-data-definitions-whats-yours/
http://iveybusinessjournal.com/publication/why-big-data-is-the-new-competitive-advantage/