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3 Ways Big Data is Changing Business

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Big data has been changing the way companies do the businesses. It not only analyzes what your consumers want, but also enhance your company’s internal operations. To know more about how big data has shifted the business world, read the given attachment. – PowerPoint PPT presentation

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Title: 3 Ways Big Data is Changing Business


1
3 Ways Big Data is Changing Business
2
  • Its estimated that around 2.5 quintillion
    bytes of data are created every day, and that
    number is only going to increase in the years to
    come. As businesses become more connected on a
    global scale, leaders and officers are trying to
    figure out the best ways to use, store, and
    improve on big data they receive from customers
    and from their own employees.

3
  • Big data not only refers to the sets that must
    be sorted through via data processing methods,
    but also to the concept of extracting and
    analyzing information captured to better predict
    certain trends and behaviors in consumers.

4
  • Smaller businesses might feel left behind or
    struggle to make use of the information stored.
    Big data translation can be daunting, considering
    how massive todays data sets can be. But whether
    your business is a one-stop shop or a globalized
    retail conglomerate, big data is changing the way
    companies do business. Here are three ways big
    data has shifted the business world.

5
Internal Operations
  • While most think of big data as a way to
    analyze consumer habits, companies are also using
    data from their own employees to improve internal
    operations and company efficiency. IT departments
    reigned supreme in the former decades as the
    forefront of productivity and business growth.

6
  • Now, businesses are developing separate data
    departments and appointing Chief Data Officers to
    handle the influx of big data. In turn, we see
    companies elevating data to a higher priority
    level. With some of this translation, companies
    have implemented sensors on their delivery trucks
    to track how long deliveries take and to better
    optimize routes.

7
  • Additionally, companies are using feedback and
    information by monitoring employees tones,
    stress levels, and how they move around the
    company to not only improve their working
    conditions, but to refine the hiring process and
    narrow down potential candidates.

8
Narrow Targeted Marketing
  • A superabundance of data means that, now more
    than ever, companies are able to create highly
    targeted marketing campaigns for their consumers
    and are able to anticipate customer needs. Taco
    Bell, with its key target demographic being
    teenagers and young adults, has created a slew of
    marketing campaigns that have recently rebranded
    the fast food chain from Taco Hell to a
    satisfying late-night snack destination.

9
  • Their unique social media platform has allowed
    for them to turn big data translation into
    marketing campaigns that continue to draw in and
    expand their consumer base. Of course, the flip
    side to companies using their customers
    information to create better marketing campaigns
    is to create a more secure way to hold and store
    all of that detailed customer data.

10
  • Amazon, with their new brick and mortar
    bookstores, has already exemplified this by
    implementing a system that prohibits customers to
    log in or access their personal accounts from
    their registers when they pay. Rather, the
    customer logs in to their account from their
    smart phone, ensuring that none of their personal
    information is stored in Amazons registers.

11
Enhanced Customer Experience and Products
  • Ideally, businesses would use their big data
    to predict what customers are looking for in
    their shopping experience and what improvements
    they would like to see in a companys products.
    Instead of product designers relying on customer
    feedback to start to improvement on a product,
    big data analysis can help companies predict what
    customers are expecting already.

12
  • By including sensors that can provide
    real-time customer reactions and information on
    how they use their products, some companies can
    quickly act on those predictions and plan when
    and how much to produce. This in turn can help
    cut costs for businesses, as they dont have to
    spend as much on production and inventory costs.

13
  • Additionally, real-time data analysis can aide
    in customer service concerns, by analyzing a
    customers account and providing one or two
    potential issues via a voice prompt to help
    deliver exceptional and informed customer service.

14
  • Regardless of whether youre a small business
    owner, a curious customer fielding answers on big
    data translation, or a chief officer for a large
    corporation, there is no escaping big data and
    its influence on how business is done today. It
    can help analyze not only what your consumers
    want, but how you can further improve your
    companys internal operations.

15
  • Technological tools to access and analyze big
    data are more than just a benefit theyre a
    necessity.
  • This is courtesy of Adam Pepka. Below is his
    bio.Adam is a real estate doyen and finance guru
    currently residing in Tucson, Arizona.

16
  • His real estate investments in several states
    keep him constantly on the go, and his passion
    for writing has found him penning pieces with
    unique insights on everything from landlording
    issues to investment advice.
  •  https//www.ceoblognation.com/
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