Big Data and how to use Analysis: Big Data is a concept that, unfortunately, many people do not understand and, therefore, cannot use in favor of running a company.
This term is linked to technological innovations and the competitiveness of companies, being, without a doubt, an excellent ally for business success.
If you are not yet familiar with this concept but want to get out of this statistic now and understand what Big Data is, this is your chance.
We have prepared an article that summarizes this concept and shows how Big Data tools can analyze market trends and predict consumer behavior.
What Is Big Data?
Big Data is a term that refers to the large volume of data produced by companies daily on the computer network. But what matters, in the end, is what these data are for.
Big Data can obtain production results, identify market trends and provide more proactive decisions about what the public expects. In other words, it is a process of data analysis and interpretation.
Everything available and accessible to anyone online is within reach of Big Data and can be grouped according to interest, regardless of the information in question.
Big Data can collect data about a subject or a company, such as purchase and sale records and even digital service channels.
To analyze this data in large quantities, you must wonder how complex this work is, right? However, Information Technology is mainly responsible for allowing this to be done with great speed.
How To Use Big Data In Your Company
After this contextualization of what Big Data is, we can say that it acts as an aid for companies to analyze their data and, from these analyses, create new business opportunities.
The use that each management will make of this data and how it will apply an analysis is different in each case, as it depends on the business area and the goals and objectives of the organization.
But the benefits of investing in this work of the IT sector are undoubtedly visible, and this can be a strategy applied and well used in different areas, which we will talk about next.
- Marketing: By analyzing the consumer’s profile, with data covering their behavior, lifestyle and preferences, it is possible to create new products that fit this profile and develop a more targeted communication for this audience.
- Financial: in this sector, Big Data works by preventing fraud and making forecasts of economic and market fluctuations, giving more security to the investment.
- Relationship and Sales: This sector helps by offering more relevant products, with customer loyalty and lower customer churn rates.
- Quality Control: In this sector, Big Data can help in several situations, such as defects per unit, first-pass yields, and fill rates, among others. It can also cover suppliers, employee training and environmental conditions during production.
Thinking about these sectors, the strategy is to cross data and interpret them from Big Data Analytics.
Big Data tools allow you to extract, organize and process data to transform it into beneficial information for the business.
This organization of data usage can be of three types:
- Social data: are those data derived from people that help identify behaviors to act in a targeted way, such as Google searches and comments on social networks;
- Enterprise data: data generated by organizations, as in the HR, financial, and production sectors, among others, and which contribute to measuring productivity and identifying failures;
- Personal data: comes from internet-connected devices such as TVs, cars, and refrigerators.
At the end of the process, it will be possible, among other things:
- identify failures, defects and problems in near real-time;
- create promotions based on the identification of the customer’s buying habits;
- find problems before they cause damage to the business.
Let’s take a look at some of the leading Big Data tools:
This tool allows data visualization in columns to optimize them for a more assertive analysis. Also very dynamic when changing the visualization format, Tableau is always an agile and interactive option.
This is a cloud-based analytics service. It helps you quickly find resolutions to your data. When you upload your data to it, for example, the platform shows you questions that can help you to follow. It then provides data visualizations quickly and instantly based on the answers you need.
As we said, Big Data is about a large volume of data, which is not always easy to deal with. Apache Hadoop is a software tool capable of decreasing the size of files, so they don’t take up as much storage space.
Oracle Data Mining
A large amount of data is not always synonymous with relevance. On the contrary, there will always be something that can and should be discarded. And that is the usefulness of this tool.
Oracle Data Mining can make this selection between what is relevant and what is not. Its algorithm provides a valuable source of data to leverage your business investments.