Big Data analytics has the potential to provide companies with the best results by going through different cycles of predictive modelling. Big data analytics leverages the four ‘V’s of big data, i.e., volume, veracity, variety and velocity. With the help of big data analytics, it is feasible to deliver detailed insights which can be used for executing useful decisions. For instance, a marketer can use big data analytics to predict the customer registration pattern.
By using the detailed analytics, the decision maker can analyse when the customers have shown maximum interest and can also know which marketing campaigns have resulted in increased registrations.
In addition to marketing, there are various business functions which can use big data analytics services for:
- Making easy to communicate with consumers
Nowadays, consumers are smart and know their priorities. Before buying anything, they look around and compare various options. They even prefer to talk to businesses through different social media channels and prefer the company that gives them special treatment. With the help of big data analytics services, an organization can approach these customers in a cost-effective manner. It allows a business to engage in real time and help in a one-on-one conversation with customers.
To help you understand it, here is an example of a customer entering the bank. When a customer enters the bank, the clerk can use big data analytics services to check his/her profile in real time. With the help of this, the clerk can know about the customer’s preferences and suggests suitable products and services.
Further, big data analytics can play a crucial role in integrating the physical and digital shopping spheres as well. With the help of this, an online retailer can give a lucrative offer on the mobile carrier on the basis of the consumer’s inclination towards increased social media page.
- Taking informed decisions:
Mainly cloud-based analytics and Hadoop are the key big data technologies which can play a crucial role in combating costs. The analytics aim is to expedite the decision making processes for different businesses. Companies can make better decisions by using big data. Hadoop and other in-memory analytics help companies to improve the decisions which have already been taken and also help in increasing the pace of making viable functional decisions.
- Reducing cost
Big data analytics services help in trimming costs and improving the efficiency of operations. Processes like testing, quality assurance can result in complications particularly in industries, such as biopharmaceuticals and nanotechnologies. With the help of big data analytics services, it is feasible to get insights on the impact of various variables in the production process, and thus, it helps industries in making judicious decisions.
- Performing risk analysis
Economic and social factors play a crucial role in determining your success. Since big data analytics services can lead to predictive analytics, it helps the company in analyzing and scanning the social media feeds and various newspaper reports. It means you can keep a tab on the current developments in the industry.
MMADapps promotes big data analytics services as the one which has the potential to give you the complete value. Contact us to know more.