More Data, More Questions & Better Answers
Companies must find a practical way to deal with big data to stay competitive to learn new ways to capture and analyze growing amounts of information about customers, products, and services. Data is becoming increasingly complex in structured and unstructured ways. New sources of data come from machines, such as sensors; social business sites; and website interaction, such as click-stream data. Meeting these changing business requirements demands that the right information be available at the right time.
Customer relationship building is critical to the retail industry – and the best way to manage that is to manage big data. Retailers need to know the best way to market to customers, the most effective way to handle transactions, and the most strategic way to bring back lapsed business. Big data remains at the heart of all those things.
Patient records. Treatment plans. Prescription information. When it comes to health care, everything needs to be done quickly, accurately – and, in some cases, with enough transparency to satisfy stringent industry regulations. When big data is managed effectively, health care providers can uncover hidden insights that improve patient care.
Armed with insight that big data can provide, manufacturers can boost quality and output while minimizing waste – processes that are key in today’s highly competitive market. More and more manufacturers are working in an analytics-based culture, which means they can solve problems faster and make more agile business decisions
When government agencies are able to harness and apply analytics to their big data, they gain significant ground when it comes to managing utilities, running agencies, dealing with traffic congestion or preventing crime. But while there are many advantages to big data, governments must also address issues of transparency and privacy.
Educators armed with data-driven insight can make a significant impact on school systems, students and curriculums. By analyzing big data, they can identify at-risk students, make sure students are making adequate progress, and can implement a better system for evaluation and support of teachers and principals.
Police forces are increasingly adopting data-driven strategies based on their own intelligence and public data sets in order to deploy resources more efficiently and act as a deterrent where one is needed.