Big data analyze the data, data is a main and important thing in companies. So, company can take a data with the help of analyzing big data to improve the service of customer, satisfy the customer needs and optimize the business.
Why big data is important in business will be noted here and also knows about big data and it’s important in business.
Big data:
- Big data is an activity of analyze the perception and leads the companies to make better decision and using strategies of marketing makes best moves in business.
- Big data is a huge volume of distinct set of data from the data source.
Type of big data:
a) Structured data
It is an organized form of data and defines length and format of data and example is database management system
b) Unstructured data
It is an unorganized form of data and now, this type of generating data is used around 90% organizations and example is XML, presentation, audio, video, message and so on.
c) Semi structured data
Semi – structured data is a semi – organized form of data and it is not a format structure of data and example is log files and csv (comma separated value) file.
- Big data has used in real – life time application and some of the application are banking, transportation, retail, artificial intelligence, machine learning, IT, Education, Telecommunication, healthcare and so on.
- Big data has various case studies and some of the case studies are Wal – Mart, Sprint, T – Mobile, Stream, Kaiser, Netflix, Homer, EBay, Delta, Evovl, Catapult, Basis, Aetna, procter and gamble, and so on.
Four V’s of big data:
The big data characteristics or four V’s of big data are
a) Volume (scale of data)
b) Variety (various form of data)
c) Velocity (stream data analyze)
d) Veracity (data unreliable)
Analytics of big data:
Big data analytics is used for analyze the various set of distinct data to finds the hidden pattern of the data and provides the decision better for the companies and better business moves and optimize the business using the market strategy.
It is the technique against the data analysis of the huge volume data set includes the types of big data.
Why Big Data is Important for Business
- In general, data are in different types and this data are important to the business. For companies, data is most important and they used this data to achieve the customer expectations.
- It doesn’t matter about the data, whether the data is in small amount of data or large amount of data. If the data is in large amount, then it is used to analyze the data and helps to reach the customer expectations and got new opportunities for growth of companies and for small scale industry analyze the data of small data.
- Some of the reason or method for the importance of big data in business and some of them are,
- Social media and telecommunications
- Cost rescue
- Relative analysis
- Marketing logic
- Objective of marketing
- Make decision better
- Satisfaction of customer
Social media and telecommunications:
Social media and telecommunications play a vital role for the companies to reach their brand name, product name and company name to the customer.
Cost Rescue:
- Why big data is important for business and it’s one of the benefit is rescue the cost.
- Using the big data tools and technologies like hadoop and cloud with reducing the cost for stock the more data amounts and reduce overall weight with framework of big data.
Relative analysis:
- Big data in business, the company can compete with the name of brands, product and institution to their opponent.
- The company wants to know that the brand name and company name can reach to the customer and customer review about their products and also know that their brand name and company name relatively to their compete companies.
Marketing logic:
From the marketing analysis, we can finds information from the analysis to launch a new products, real life time information of the product and also start to achieve the customer confidence in product and reputation of the companies.
Objective of marketing:
Big data in business, using social media and telecommunications have a part to advertise their company product from the various sources in real – life time application and finds the social media customer for an active marketing to sale the product and enhance the customer service and optimize the business.
For instance; Companies can have a goal for the gaining customer confidence about the product name, company name and launch a new product with the special offer.
Make decision better:
Big data in business, hadoop technology and data analytics of the data speed and analyze the ability of the data source. Big data is used to analyze the information to optimize the business and make better decision. So, companies can analyze the data source and make decisions for improving the business.
Satisfaction of the customer:
Big data in business, understand the customer needs with the analysis of big data. The companies can analyze in predict way that the customer what want in future product and gives the better service and the product efficient.
Big data automatically minimize the complaints of the customer and also reduce negative review comments of customer.
Now a days, the data generated by each person 1.7 mb in per second and nearly, 2.5 quintillion data bytes for each day. Now we know that why big data is important for business and nearly 97 percent organizations use the big data in their business.
In future, percent and data generate each day will increase the bytes of data so, business mainly focus on the data and that’s why big data is important for business and it is used for enhance the business moves with the market strategies.
