ANALYTICS AND BIG DATA - How It is Influencing All Aspects of Current Market

Any organization can have huge amount of raw data which can be in various formats. It is therefore necessary to have high performance analytic tools like Bigdata for figuring out what is relevant and what is not.

Why it is important?
It is totally worthless, if you cannot analyze the raw data which you have to full extent. You might not want to wait for hours or even days for getting the results from that data. Here, Bigdata come into picture to easily analyze the data and get result. You can process the data using the high performance tool within a short period of time. You can use the other features like predictive analysis, forecasting, text mining and optimization using the analytics and Bigdata. As more and more companies are focusing towards innovation, this will help you to achieve it and also help you to make decision easy and accurate.
How big data is influencing current market?
Customer Engagement
Bigdata can help in the approach which is customer centric and helps to determine the real time potential offer to the customers. It helps the organizations to determine the need and interest of the customers and also help in marketing of business policies, regulations and objectives of organization. It also helps organizations to leverage their call center data, customer information and transition data for determining the offers which they can provide to their customers. It also computes the propensity of customers for accepting the offer.
Online shopping’s personalization
Retail industry has changed quite a lot in few years and now online retailers have expanded their market reach with the help of internet. This new revolution has led to the reduction in personnel, operation costs and inventory. The shopping experience now days is more personalized as companies can easily identify the customers behavior and need of customers. They are now being offered the most relevant products and they can easily get it for best price.
Big data for dynamic and targeted advertisement
With the use of Bigdata Analytics, organizations can analyze the huge amount of data which comes in the form of customer information, buying pattern based on geographical location and financial condition of customers. They can use these tools to analyze the data present on their website to get more information on the behavior of their customer and target the customers for advertisement who are potential buyers.
As the technology is accelerating with a good pace and there is a change in business, adoption of a data driven model of business becomes very necessary for organizations to survive in the current situation. Analytics and Big data can surely help in this regard.