A few years ago, the term “Big Data” was a simple concept in the minds of traditional scientists. Now, it has become a strength in the business world. According to researchers, 99% of businesses are planning to execute big data analytics and AI shortly. On the other side, only around 30% have succeeded in doing that.
The above mismatch indicates that many businesses have not acquired the technical capacity to implement big data analytics but would like to.
Small businesses can also benefit. In particular, small and medium enterprises would possibly grow the most considering their starting point and how they’d be able to move ahead of competitors who delay in implementing big data solutions. If you’re considering making the jump into the big data pool, here are a few of the potential benefits doing so could bring to your business in 2020 and beyond:
Success in Marketing
The implementation of big data analytics will enable you to enhance product data and predict user preferences in a way that maximizes conversions and unites owners of public displays with advertisers on a specified platform. Hence the most important factor in marketing success is micro-targeting people who are likely to buy at just the right time instead of just reaching out to as many people as possible.
Boost in Security
The impact of social engineering attacks has brought down a few markets (online and offline) and the malware attacks are equally responsible. This leads to losing customer data that can destroy your business’s reputation apart from the financial losses which would likely occur.
Big data enables businesses to implement software that would enhance safeguards on delicate information by leveraging a variety of technologies including video recognition, natural language processing, speech recognition, machine learning engines, and automation.
3. Data Sharing Allows Collaboration
Data-sharing is one of the essential parts of today’s business. It improves the speed of data insights and helps strengthen cross-company collaboration and communication protocols too.
For example, consider a multinational company. They are usually divided into many subsections or have employees based across the globe. Cloud data sharing can help bring these separate divisions together without having to replicate data insights for different regions.
As the data increases year-after-year, we also see data sharing evolve in the process. The necessity for data will result in organizations tapping into the benefits of machine learning to help sift through the mountains of information they receive.
4. Better Customer Service
Big Data allows responding to customers faster and offers personalized support at scale. One can enhance their customer service teams and the ability to support real-time customization. One can also quickly identify new and profitable product offerings and ensure their business is providing smooth omnichannel support.
It results in more sales and better business to harness big data to drive better customer service that allows you to improve customer loyalty and retention.
Human Resources
The traditional method of matching resume keywords to job descriptions to shortlist candidates is no longer effective because there are now a lot more considerations that need to be considered before making a hiring decision.
The various data-driven AI programs can evaluate various parameters such as education, the number of years’ experience, the skill set of a candidate, job titles, certifications, geography, social media activity, background checks of a candidate and a variety of various other parameters to identify the most suitable candidates for a position. The kind of selection process will reflect in the overall efficiency and profitability of your business.
The above points show that this field will give you countless career opportunities. The organizations need skilled Big Data professionals to improve efficiency and enhance their business. Becoming a Big Data professional provides various benefits such as enhanced career growth, better salary, better job opportunities, upgrade to new technologies. uCertify offers a comprehensive CIW Data Analyst study guide that will help you learn and understand topics deeply and thoroughly. This CIW Data Analyst training program will cover CIW 1D0-622 exam objectives like the fundamentals of data analysis, big data, working with data sources, tools for capturing and analysing data; and analysing and reporting data.
