FREMONT, CA: Big data has changed the way organizations accumulate, analyze, and process various types of information. It has now become more customer-centric, and every insight that was received, with the help of data analytics is used to build business strategy and streamline processes within an enterprise. Technology is compelling, which is characteristic of volume, variety, and velocity defined as TechTarget.
Big data has transformed business in many ways, and specific features can also characterize it; handling various types of data, continually changing and updating information base and the ability to get the practical value of the data and monetize it into revenue are some of them. A clear picture of reports and authoritative analytics and the ability to improve productivity and to increase compatibility are some more features to the list. The source of Big Data includes information from various devices, sensors, IoT devices, as well as data that is publicly available. Organizations use different advanced tools and technologies that are enabled by artificial intelligence for processing huge volumes of information. Big Data technology is used to obtain information that is still unexplored but essential for the company.
If an organization generates an enormous volume of data, new ways should always be looked up for gaining insights. The data-centric model of business signifies that data is the main asset. With big data, companies are transforming and obtaining many capabilities to streamline their revenue, improve customer satisfaction, and produce high-quality products. Big Data helps in managing enterprise data efficiently. To change the way enterprise data is stored and processed, companies start using unique platforms like enterprise resource planning or enterprise information management. Such systems can help in transforming business operations, increase efficiency.
The main goal of a data-driven strategy to operational processes is to organize the information in a way that could serve customers adequately. Big Data analytics permits determining customer behavior and marketing trends. It also helps in identifying the strengths and weaknesses and uses the data in changing the way of the business. Implementing new technologies into operational processes helps in getting a competitive advantage over similar companies in the market.