Analyzing large amounts of data to uncover hidden patterns, correlations and other insights constitutes big data analytics. So, why do large organizations use of big data analytics? The answer is simple and that is to identify new business opportunities.
Big data Analytics offers the following benefits to organizations-
- Cost reduction- Big data technologies such as Hadoop and Cloud-based analytics bring significant cost advantages when it comes to storing large amounts of data – plus they can identify more efficient ways of doing business.
- Faster, better decision making- With the speed of Hadoop and in-memory analytics, enterprises can analyze information immediately and make decisions based on what they’ve learned.
- Abstract new services and products- Analytics can help in guestimating customer needs and so businesses can get the power to give customers what they want in right time. This helps companies to abstract new services and products.
Big data is being used in the following business streams
- Travel and Hospitality- Making customers happy is the motive of every business and the same applies to hotel industry as well. But customer satisfaction isn’t an easy thing to gauge-especially in a timely manner. Resorts and casinos, for example, have only a short window of opportunity to turn around a customer experience that’s going south fast. Big data analytics gives these businesses the ability to collect customer data, apply analytics and immediately identify potential problems before it’s too late.
- Healthcare- Healthcare sector has a lot to deal with data like patient records, health plans, insurance info, and other types of info can be difficult to manage. Big data helps in getting full insights from all this data. That’s why big data analytics is so important to health care.
- Government- Certain government agencies face a big challenge of giving quality driven productivity even under tight budgets. This is particularly troublesome with law enforcement agencies, which are struggling to keep crime rates down with relatively scarce resources. And that’s why many agencies use big data analytics which helps in streamlining technology operations, while giving the agency a more holistic view of criminal activity.
- Retail- Customers always expect from retailers to understand exactly what they need, when they need it. Bi data analytics technology helps retailers meet those demands. It helps retailers to architect customer loyalty programs, as per the buying habits and other sources. With big data analytics, retailers not only have an in-depth understanding of their customers, they can also predict trends, recommend new products – and boost profitability.
DNF and its partners gives big data analysts seeking professionals powerful, intuitive workflow solutions and applications for data blending and advanced big data analytics that lead to deeper insights in hours, not the weeks seen in typical approaches.
To know more click on DNF Big Data Analytics web page.