In today’s connected world, there is a surfeit of information being churned out from multiple sources, both structured and unstructured like information from business applications, social networking, Internet and mobile. And the speed at which this is occurring is only accelerating – it is stated that the available data worldwide today is doubling every 12 months and is expected to only increase further.The scale of the data has led to the apt coining of the word ‘Big data.’ The sheer volume and wide range of information frequently running can be overwhelming for businesses, which are under stress greater than ever to take informed decisions and react in quick time.
Big Data Analytics Across Industries
It is evident that businesses need to maximize the Wisers and Knowledge they can access to keep relevant in the modern hyper-competitive environment. And here is how Big Data analytics can help across varied scenarios. A frequent example is that of a merchant having the ability to sift through tonnes of customer information to derive insights on shopping tastes and direct targeted campaigns. This can even be extended to capture the personal preferences and likes of the shopper and supply customized offers, resulting in increased hit rates and earnings. This is a win-win situation for both parties because the customer will get information and offers, he is interested in and the merchant enjoys earnings growth and potential customer loyalty also. Big Data analytics doesn’t need to embrace a big-bang approach constantly and is equally useful and successful in behind-the-scene situations for retailers. It may be used for a dramatic decrease in processing time when comparing product info, which resides across multiple information sources. Analysing data allows a merchant to make smart decisions and helps develop a competitive advantage.
The big data platform hong kong has immense potential in the business of healthcare too. Imagine if a hospital can go through its individual records and identify patterns in diseases. This can enable physicians to detect the onset of a disorder much early on and the advantages of such an approach can’t be overstated. Throw in lifestyle data to collect additional insights and the possibilities are just mind-boggling. Another example is from the telecom market. Mobile connections are Expected to exceed 6 billion internationally and in India there are close to 750 million readers.
The largest impact can be gotten by analysing subscriber persona and use patterns and using this intelligence to devise targeted advertising campaigns. The analytics also can help telos ascertain what additional services are most likely to find favor with readers and give them appropriately. This also provides opportunities to provide value-added services like location-based services resulting in better customer service.