Top 5 Uses of Big Data Changing Businesses Today

Wednesday, August 23, 2017

Big Data in Businesses Today

As businesses move to occupy opportunities opening up online, they realize that they have a common problem. The primary concern relates to the management of the torrents of data emerging online as entities interact. The ever-growing over reliance on the internet by consumers and companies is creating a lot of amount of information that a company must analyze.

Competitor and customer analysis are possible through following up and evaluating the data trails that they leave online. Unfortunately, conventional analytics tools are inept against this amount of data. Big Data is the term used to reference these torrents of information online. Specialized Big Data analytics can make sense of this data and inject some advantages for your company. The following applications demonstrate how business are making use of Big Data.

Hiring Process Optimization

The quality of a company’s workforce goes a long way in determining its performance. The aggregated employee performances constitute the holistic business' performance, making every employee’s effort count. The hiring process in a company evaluates whether a candidate would add value to the enterprise.

Big Data analytics focus on determining patterns and flagging issues on a chosen path. Therefore, these tools demonstrate hiring trends, problems in the process and also offer recommendations on the talents that your company needs. Overall, the process becomes easier, cheaper and more synchronized to business performance.

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Employee Management and Retention

Employee turnover concerns have always plagued companies since every employee lost accounts to lost business value. Further, the recruitment process for replacement costs the company in productivity and money. Big Data solutions help the HR department to identify root concerns that the employees point out.

Factors related to the company operations or management highlighted through these systems assist in developing new strategies for the enterprise. Addressing these concerns will improve retention rates in your business and improve performance. These results might also reveal factors impeding your company performance.

Brand Tracking Tools

The reputation of a company is important in pushing sales and improving its competitive advantage. Critics and customers often talk about your business in light of emerging issues and create a mean for you to track company performance. Data for the feedback process is found on blogs or social media platforms where thousands of comments are made.

Going through this amount of traffic is impossible today but can be attempted at a high cost which involves hiring a lot of analysts. However, some social platforms offer analytic tools that help companies go through the thousands of posts placed on the platforms. These Big Data tools highlight critical posts for review and provide statistics about the company reputation on the platforms.

Rapid Reporting

Presenting a case in a boardroom is complimented by real data schematics. These presentations aid in showing the market status and performances of a company. Some skeptical executives are hard to convince and presenting a case based on an aspect such as social media requires real data. Big Data tools equip you with reporting features which whip up data schematics in seconds. Such functionalities make reporting and decision making an easy task.

Improve Efficiency

Given the relevance of data in business decision making today, it is important to remain updated and connected. Therefore, having a reliable connection to the internet through platforms that can handle traffic is important. Employing a system like Vsat should keep you actively informed about new statistics from your Big Data tools.

Big Data solutions in real-time allow implementation of strategies that are in line with the market trends. These insights are particularly valuable when following up on a scheme's performance. Real-time information helps in fine-tuning a strategy to fit your customer's needs.

These Big Data uses in business are relevant to any company today. Following up on market changes today requires you to employ tools with the capability of handling Big Data efficiently. Deciding to use Big Data in business not only improves your company performance and productivity but also saves you money.

By  Lindsey PattersonEmbed

Author Bio - Lindsey is a freelance writer specializing in business and consumer technology.


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