Big Data – two words about which opinions could not be more different. In recent years, ideas about Big Data have become increasingly divergent. On the one hand, optimists see big data as an opportunity in the future to combat many of today’s problems, such as corruption and disease. Big data can also be successful in logistics and many other areas of the company.
Opportunities Through Extensive Data Analysis In The Company
In companies, vast amounts of information and data from cloud accumulate every day. With the help of Big Data and Big Data Analytics, hidden patterns and information can be recognized in the data. With the use of this newly gained information, companies can make business decisions that can drastically increase the company’s success. With real-time analysis, this decision-making can also take place more quickly. Big data can also help to make preventive decisions. By evaluating machine data, for example, information can be obtained about the intervals at which the machine fails. By using additional sensors, the dependency of the failure on certain factors can be determined.
Increase In Efficiency
Every company today has to survive among many companies on the market. To remain competitive, companies have to develop strategies to save costs and still provide the same or better performance.
Big data is a beautiful tool for optimizing processes and reducing costs. Because big data is generated in all company areas and robust analysis systems can process and connect this information, many functions can be made more efficient. An example would be the transport of goods by truck. Since nowadays many different factors, such as traffic jam data, weather data, or petrol price, are involved in the vehicle and can be measured in most cases, analysis systems can optimize the routes of the trucks perfectly to save time and money.
Research And Development
Customer data is critical here. Customer demand or preferences play the most crucial role in research and development. By analyzing that data, for example, existing or upcoming trends can be recognized or predicted. Companies can now react to this and develop new products or unique marketing strategies for existing products. Furthermore, analysis methods can be used during the development phase. This could, for example, be used to test costs, performance, or breakage resistance by making minor changes to the product without ever having produced such a product.
The best example of using big data to adapt to customers is Netflix or Amazon Prime Video. By collecting the series and films watched by the user, similar movies and series are recommended based on those already observed. This offers the customer a unique, personalized service. Furthermore, this adaptation to the customer or, in this case, the patient can also be accepted in medicine. By analyzing the information obtained from medical history forms, patients can be prescribed specific medications and treatments tailored to their needs.
This benefit of using big data is primarily aimed at corporate customers. Usually, the buyer does not learn much about what is behind a product or service or how much of the information provided by the company is authentic. With big data analytics, customers can search and analyze data, giving them deep insights into companies. This is particularly useful when purchasing organic, fair trade, or vegan/vegetarian products. With the full transparency of production, companies that incorrectly offer products with those attributes can be uncovered.
However, transparency is not only of great importance in companies but also in public authorities. Here, the chances of Big Data, in particular corruption, are to be uncovered. This is particularly important in developing countries.
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