How can you leverage Big Data?
Use Big Data to make information transparent.There is still a significant amount of information that is not yet captured in digital form (e.g. data that are on paper, or are not easily accessible and searchable through networks). A great deal of the effort of knowledge workers consists of searching for data and then transferring them to another location. This effort represents a significant source of inefficiency.
As organizations create and store more transactional data in digital form,they collect more accurate and detailed performance information on everything. This ranges from product inventories to sick days, and therefore expose variability and boosts performance. In fact, some companies are even using their ability to collect and analyze big data to conduct controlled experiments to make better management decisions.
Big Data allows for the segmentation of customers so that companies can better tailor products and services.
Sophisticated analytics improve decision-making, minimize risks, and ascertain valuable insights that would otherwise remain hidden.
Big Data can be used to develop the next generation of products and services.
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