To succeed in your business, it is essential that your product or service meets all or a large part of the customers' wishes.
For this, you need to understand these cravings very well. In addition, it is necessary to be within the market trends and know well which strategies to use correctly.
With this, another concept emerges in the market, Big Data Analytics. Is it a new term? Does it generate useful information?
Come with us and we will explain everything you need to know and what results can be obtained.
What is Big Data Analytics?
Big Data Analytics can be understood as a concept of structured and unstructured data clusters that are generated at all times.
The term Big Data is old, but only nowadays the generation of digital data got more intense. All this thanks to the methods of sharing and integration between the media.
These procedures help companies explore their data and use them to learn about new market trends in order to create new opportunities. All these data are possible to be analyzed with almost real-time responses.
The 5 pillars of Big Data Analytics
To complement the concept, it is critical to understand the features behind Big Data Analytics that will help you in this competitive environment.
Volume: the volume is already large and the trend is only increasing. It's a lot of data generated every second and stand in the zettabytes and brontobytes range;
Speed: The speed follows in the same proportion as the volume, i.e. large and fast. With this, the data is analyzed the instant they are created; thus, the purpose is to achieve real-time information processing;
Variety: with increasing speed and volume, comes increasing diversity. The data come from several sources and interpretations;
Veracity: The large volumes of data analyzed are intended to serve as a guide to planning more safely. With this, it is necessary to establish which data are true and current;
Value: In order to add value to your business, you need to have a good investment in the infrastructure so you can get useful information.
How Big Data Analytics works?
When we talk about Big Data Analytics, we can divide this analysis of data into 3 categories:
Social Data are data that contains profiles and behaviors of the people, we have as examples the social networks;
Enterprise Data are data generated especially by companies, data such as operations and financial;
Personal Data is new, based on the integration between devices through the internet, the main example are smartphones.
The data analysis process is able to explore the data in order to create principles to optimize the understanding of scenarios and patterns. This is all thanks to careful and accurate analysis.
All of these standards are designed to filter and bring you all the useful information. Behind this, there is a whole cycle that begins with data extraction, organization, treatment, and understanding.
But is it worth implementing in my business? What improvement points will I perceive?
What's the matter?
Now that you have understood better about Big Data Analytics and you already have all the useful data at hand, it's time to move forward with greater security and assertive decision making.
To do this, we've listed the key benefits that Big Data Analytics deployment brings you. Come on!
Accurate Pattern Identification: Custom segmentation of your business audience is occurring. It is necessary to study the behavior of this public, whether by age, behavior and / or region. Thus, it is possible to deliver to the customer a product according to his profile;
Cost Reduction: Cloud data storage is an opportunity for businesses to work more efficiently.
Faster and better decision making: With the speed and intelligence of data analysis, it is possible for companies to have all the information they need in real time, enabling managers to make their decisions more accurately.
Development of products and services: done with the collection of concrete data of the consumers, and later the accomplishment of the Data mining, where an algorithm is used within a large database to recognize patterns and rules that can aid in making a decision. Thus, it is possible to establish the needs and desires of the customers, resulting in the success of your product.
Competitive analysis: Getting ahead of the customer's needs and wants is a way to get ahead in the competitive environment. In addition, it is possible to identify different and better paths than those followed by competitors.
How is the market, and who uses it?
Many companies now have data that is part of Big Data Analytics. However, few make the use strategically, that is, taking advantage of everything the database offers.
Big Data Analytics can be implemented regardless of the size of the company, because the implementation is not complex, but arduous. In Brazil, few companies make use of it, so it's time for you to get out in front of them and get good positions in the market.
Generally, the data scientists are responsible for the "data cleaning" and preparation of the data, which can also be understood as Data Science, which is the term referring to the set of techniques and / or tools which are used to extract data or insights.
Analysts can also take on these roles, often being linked to marketing, technology and innovation. This market is on the rise and full of opportunities.
So, did you see how Big Data Analytics is important?
As you can see, Big Data Analytics is increasingly present in our daily lives and is being able to change the business landscape, especially with the astounding increase of information.
Now you know all the benefits of Big Data Analytics. But those benefits do not stop there. With the advancement of technologies and Industry 4.0, you will still hear a lot about topics like this.
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