Big data in business

In this article, we will take a quick look at how big data is used in business.

We will not delve into the terminology, especially since my colleague Maxim, in his article (Big Data Market Analysis. TOP 10 new electronic) has already described it perfectly.

Let us get straight to the point. So, what is big data used for in business?

On average, there are 6 different options for their use:

  1. Implementation of risk management in the company - thanks to big data, companies can predict the occurrence of risk situations relying on intelligent search and data analytics. This makes it much easier to implement risk mitigation policies.

  2. Better understanding of customer needs - big data stores a lot of useful information about your customer, what sites he visits, how he runs social networks, thanks to them it is possible to create customer profiles that improve the understanding of how to improve your service and product in relation to the consumer ...

  3. Know your competitors - you can find a lot on the Internet and big data will help in this, for example, how your competitor does business, what price models it uses and how the product is presented to customers, as well as suggest the preferences of its customers.

  4. Personalize your marketing - based on 2 points, we already know what our client wants, so we can successfully create, and conduct marketing campaigns aimed at a specific market segment.

  5. Determination of trends - Big data makes it possible to determine trends in the development of the market, which allows the development of products and services in the right direction. This allows you to prepare your business for market changes in advance, since development forecasts are already known.

  6. HR management - the labor market is huge, and it is often quite difficult to find the required specialist, big data will help in this, and by structuring and providing information on specific requests, it will help to select exactly those specialists that the company needs.

If you are interested in implementing big data, this is a reason to consider ready-made options for their implementation. At AZN Research, we already use big data analytics in the form of Advanced Analytics Suite 3.0. Perhaps this is the right solution for your business.

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