With the explosion of emerging digital businesses, organizations are weighed down by an abundance of data while they spend lots of our time keeping up with changes, trends, new platforms, best practices and tools and techniques.
Organizations of all sizes are beginning to reap the benefits of data analytics technology but the technical limitations make them incapable of transforming massive volumes of customer data into actionable strategy and relevant customer engagement. These organizations want to use big data analytics to examine large amount of data.
The concept of big data is not new and has been around for years. Many years ago, organizations were using fundamental analytics within application database and in most circumstances, utilize systems to extract, transform and load data (ETL) into giant data warehouses to manually discover trends and insights using business intelligence solution. Today, organizations now understand why they have to capture all the data that streams into their businesses; applying analytics to get significant value from it.
What is big data? Big data analytics examines large volume of data to discover unknown patterns, connected relationships and other insights. With technology today, it’s possible to analyze your data and get answers from it real time and identify new opportunities.
The new benefits that big data analytics brings to an organization are speed and efficiency.
Better business decisions means that companies can reduce the risk of their decisions, and make better decisions that reduce costs and increase marketing and sales effectiveness. The difference between winning and losing in a data-driven world will be the capability to decrease the ongoing costs of managing increasing volumes of data with the capacity to pull out value from it.