Data management today has become a critical differentiator for all types of organizations. The web pioneers’ innovations have benefitted the government body as well as Fortune 1000 companies. These organizations are revamping their existing strategies and are setting new initiates so as to examine their performance and change their business with the help of Big Data. In this process of rejuvenation companies are learning that rather than being a single technique or an initiative, Big Data is trend established across various sectors of business.
So to infer, big data involve diverse data used to address technological and skilled related issues effectively. This diversity of data is too great. New technologies today have made it possible to realize the value of Big Data. For instance, big data has helped retailers track web clicks and identify consumer behavior for a particular campaign. The government can track disease outbreaks with the help of social media signals. It has also helped oil and gas companies. They can make safe drilling decisions by determining the output of their sensors and drilling equipments. To say it all Big Data is so huge and vast that it cannot be managed through outdated software tools. To be specific Big Data refers to creation, storage and analysis of data. The data so created is magnificent in velocity, variety and volume.
In the year 2014 cloud computing is what is driving Big Data in a new way. Cloud computing is the most discussed hot topic today. Most businesses today are concentrating on making the most of this data available at their fingertips. Cloud computing is managed and delivered by a 3rd party provider. It refers to computing and software products that are broadly in aspect and sold as a service. Companies are constantly exploring ways to put Big Data to the best of their usage. Businesses today seem to be using gathering huge chunks of data through social media websites and also through various mobile applications development. The data so collected is very helpful as it helps businesses in analyzing on ways to improve their products and services. This also helps them to figure out the right price for their products, cut costs and keep customers coming back to them. There are several ways that companies today are following to transform their business with the help of Big Data.
Human Resources: Companies are using big data to handle employee information. Employee benefits and their health care can be better analyzed by way of big data. Big Data has also changed the way Human Resource managers hire employees. As compared to traditional ways of recruiting this way, if faster and gives immediate results. Some companies are able to screen up to even 1000 candidates with the help of Big Data.
Big Data in Production Development: Big Data helps in capturing preferences of customers. These preferences are further used to design new products. In the year 2014 many companies seem to be following this trend with many online companies taking the lead.
Operations and Big Data: Over the years, to make operations efficient companies were using digital technology. However, now it seems to be shifting. Companies can capture more information with the help of data. Most of the companies are relying on data to improve their operations.
Big Data and Marketing: Since years, marketers have been using Big Data to their advantage. And this year it is even getting bigger. Marketers are most likely to rely on Big Data for their understanding their customer better. Based on this data companies, are now able to create their target pitches.
Conclusion: Companies today have access to vast information than they had some years ago. Big Data comes from many different sources and largely has benefited many companies. However, there are reports suggesting the authenticity of this data. Some even might question the relevancy of the data so acquired. But nevertheless Big Data still seems to be in the forefront with all these obstacles. There are ways techies are figuring out to filter the data and analyze it in a better way. As of the year 2014 is considered Big Data is still going to be the big thing.