Advertising & Marketing

Figuring Out Analytics

August 4, 2017

Advantages of Big Data in an Enterprise Big data is a term referring to a vast amount of data assets that are very large and complex to the extent that they cannot be captures, stored, analyzed, and visualized easily using the tools available in an enterprise. Big data is usually collected when companies are attempting to find trends from the available data sets. Research of the environment and the human genome are other areas that are known to produce big data. The limitations that arise from Big Data often affect all areas of business including business informatics, finances, and internet search results. Organizations usually have to invest in powerful hardware and software applications that allow parallel processing of thousands of servers in order to harvest big data. Rather than miss out on the benefits of big data, an organization that cannot obtain this information by itself should buy it from third-parties. During periods of uncertainty, it is important for businesses to collect as much big data as possible. Statistical analysis of the big data is necessary in this period since the decisions that the business makes during this period should be informative because they can either make or break it. With big data, companies are able to see the changing consumer demands early enough and adopt to changes before it’s too late.
Understanding Analytics
Most companies cannot process Big Data by themselves hence need a collaborative framework that enables different organizations to work on various sections of the big data and share the results with other companies. There is more accurate and informative data to be collected than ever due to the increase in the number of people who have access to the internet all over the world. Data collection techniques for this kind of data have also been improved to ensure proper data collection.
Understanding Analytics
Every enterprise needs to collect Big Data in order to learn more about consumers’ shopping trends. Understanding customers enables enterprises to adopt to changes made by consumers and know what they don’t like. This makes it easier to predict the consumer’s buying patterns as well as implement better marketing strategies. Many e-commerce stores are taking advantage of Big Data to create successful shopping campaigns including pairing products that a customer might like due to his or her history while shopping online. There are many sources of Big Data that companies leverage on to get specific information to increase their customer base and retain existing customers. Advertising companies enable targeting specific customers by getting information from their social sites and public forums. Analyzing this data can help find a shoppers’ preference and market him or her the right products. Every enterprise needs to take big data into account in order to market and sell their products and services in a smart way.