BI And Analytics Trends To Watch In Future
- September 21, 2023
Big Data applications are the methods that we can use in our company to benefit from the immense amounts of data generated by our business, clients, and environment. In this article, we will review the main Big Data applications that allow us to innovate and transform the business of our company. Also, you will learn about the essentials od bid data analytics.
Big Data applications: what are they?
Big Data applications are the way we can take advantage of data to improve our business. Big Data is here to stay, and the companies that make their business decisions based on data are the ones that manage to better retain their customers and be more profitable.
Big Data applications for sectors such as telecommunications, healthcare, banking, media, and governments are evident. However, you don't have to be a large organization or have millions of customers to benefit from Big Data. Thanks to technological advances and trends such as the Internet of Things, social media, and public data sources, we have access to a large amount of data that we can explore. It is only necessary for a change of business mentality that leads us to make decisions based on data analytics.
Some Big Data applications that can benefit your business
There are tons of benefits that businesses and individuals can derive from big data. You can get information such as the market trend, user preferences, defective machines, and so on. Contacting a data science company to help you out with your data analysis can be important for your business growth. Here are some of the main benefits that big data offers.
Get to know our customers and their purchase intention better
Big Data allows us to have a 360º view of our clients and carry out a detailed segmentation based on their habits: when they buy, how they value their purchases, and what clients with similar purchasing habits acquire. This is data that we can easily obtain from our own sales channels and contact with customers (e-commerce, email, call center, surveys), but also in a simple way through the analysis of the information they leave in public sources such as social networks. In this way, it will be much easier to carry out personalized recommendations, based on predictive analytics and machine learning, and maximize the performance of our sales channels.
Improve the positioning of our website
Thanks to the numerous tools available on the market that apply Big Data to Internet searches and the analysis of feelings on social media, we can improve the positioning of our website and maximize organic traffic. This is possible thanks to the aggregation of the data on the keywords with behavioral indicators to predict the search intent of the users and with the trends of publications or topics that go viral and generate trends.
Improve our operations
Whether complex or simple, our internal operations always have room for improvement, which can translate into huge savings in terms of time and money. Big Data helps us in this field by carrying out a constant analysis of our business processes. These data allow generating valuable information that can support operational decisions, detecting room for improvement, and being able to react better to unforeseen events.
Improve security and prevent attacks
Cyber-attacks and cyber-espionage continue to grow and become more sophisticated, so any help that can protect our information systems and data from threats is welcome. In this sense, Big Data applications allow us to carry out constant analysis and surveillance, which allows us to detect patterns and threats in progress or predict future ones. They are also tools that can help you prevent fraud.
Proactive and predictive staff selection
The advances of Big Data applied to recruitment allow us to build complete profiles of our candidates. Thanks to public information sources, mixed with the data that we already handle, it is possible to obtain valuable recommendations on the fitness candidates with the positions we offer and the culture of our company, taking into account our hiring history, salaries, candidates that were successful, etc. But Big Data applications can go further, anticipating recruitment needs and suggesting candidates before vacancies occur, allowing greater proactivity and a competitive advantage over our competitors. They can also help us improve the retention of current employees by reducing turnover and fostering engagement.
Big Data applications: how to benefit
We have seen some concrete examples of how we can incorporate Big Data applications in our companies. Each company can benefit from Big Data in its own way and boost its business. The path to Big Data is not easy: A recent survey by New Vantage Partners shows how 85% of companies want to be data-driven, but only 37% have been successful. However, we can take these first three steps:
• Identify the data that we generate and that we can exploit.
• Equip yourself with the best analytical tools.
• Incorporate the best data professionals.
Hyperlink InfoSystem is one of the leading software development companies based in India and has offices in USA, UK, UAE, France, and Canada. With 10+ years of experience in the industry, Hyperlink InfoSystem served more than 2,300 clients worldwide. The company has a team of 450+ highly skilled developers who works on any custom solutions using the latest technologies.