When you think of business data, an image of huge servers and chunks of wires come in front of your eyes. It is estimated that every day at least 2.5 quintillion bytes of data is produced. This is rightly an era of technology and data.
With this ever increasing data, it is important for companies to find a way to analyze the data increasing in their business environment and take it into meaningful consideration. Companies can either make a good use of technology to mine this mountain of data or get submerged in its burden. Big Data analytics help organizations of all sizes to mine the tons of data, analyse them, discover trends, apply analytical model and optimize the performance of
business processes. This in turn helps them to bring out the best from their resources and make smarter decisions.
For example, immense amounts of shipping delivery data, continuous traffic and weather data, details of various vendors and their past performances, geographic regions, etc. can all be analyzed simultaneously to devise a model to select the most suitable shipping subcontractors. This will ensure timely delivery, less damaged goods and the optimum service.
So how is Data Analytics useful to your organization?
Smarter and faster decisions: With the availability of varied data analytics software, it has become easier to identify trends and other analysis immediately. Making decisions based the output of the analysis becomes easier.
Reduction in costs: Not only storing huge piles of data but also analyzing them to your advantage has become a piece of cake nowadays. The challenge is just to know the process right. You don’t need bulky servers or big rooms to store your data. Cloud-based analytics or in-memory analytics do this work for you with much less cost.
Customer satisfaction: The end result of all the analytics is that it helps you gauge what your customers want from you. When you give them what they want, they are content too. So, all in all, this is a win-win situation for both of you. More and more companies are innovating and evolving so as to meet customers’ needs just because of Data Analytics.
Have a look at how we help you in managing your huge data.