Big data refers to a term that describes vast groups of structured, non-structured or semi-structured information in nature. High velocity and volume data in these various data sets are processed using the Big Data tool for analysis. The analytics on these sets reveal significant patterns and trends that prove highly beneficial for business organizations.
Customer choice and choice prediction
Understanding customer needs and requirements is important for all business organizations. Big data is a mechanism that companies are using to understand customer behavior and demand to use the process of data analytics. There is a lot of customer data and information that is available on the web through social media channels, company websites and many other platforms. These datasets are gathered by organizations and analyzed using Big Data tools to understand user choices, patterns, and preferences.
Strategy and decision making
Big data provides cost-effective mechanisms to study customer-oriented data patterns and trends. The results obtained using such processes allow organizations to make strategy and organizational decisions according to the needs of customers. Such practices give the organization a competitive advantage over similar organizations. Also, the level of customer satisfaction also increases as their demands and requirements are met.
Establish a Data-Driven Culture
With the change in technological practices and digital progress, business practices and organizational activities have also undergone a major shift. The current era is a data-driven era, in which organizations are required to make their business decisions based on the data it is associated with. Big data tools and techniques allow organizations to create a data-driven culture. Culture enables the organization to increase the level of customer and employee satisfaction by analyzing their needs and demands.
Identification of required skill sets
Human resources are the most important resources that are associated with any business organization. The success or failure of organizational activities depends to a large extent on the knowledge, experience and skills of its employees. The big data tool is being used by the human resources (HR) department in its recruitment processes. These tools are applied to understand the skill-sets that are required for the projects being implemented in the organization and identify the talent according to the results achieved.
New ways to generate revenue
Data is the most important asset for organizations. There are many figures that organizations treat on a daily basis. This data is being used by large and small companies to create innovative ways for organizations to generate revenue. For example, some datasets are available to customers for free. However, some data sets require paying customers. Thus the revenue earned by the organization on such data sets increases. Similar value-added services are being created by companies with the use of Big Data tools.
The products and services that companies provide to their customers vary by customer type. It is essential for companies to develop a marketing and advertising strategy based on the customer group to increase the customer base. Big data tools allow companies to differentiate customers from different groups such as age, gender, purchasing power, preferences, preferred mode of purchase and so on. The offerings by the company are designed to target each of these groups which lead to increasing customer base.
There has been a huge growth in cloud based services and solutions that are being offered by companies to customers. Along with the growth in such services, there has also been an increase in cyber crimes. Big data allows the detection and prevention of fraud using historical data, so that the general pattern is used that is used by maleist entities.
In the present times mobile applications have become mandatory for every business,
irrespective of the nature and size of the business. These apps allow businesses to create direct marketing channels and the opportunity to grow the customer base. There are various business organizations in every sector and the utility of their respective mobile applications provides a competitive edge over the rest of the industry.
The presence of a useful mobile app improves brand value as well as customer engagement. For these reasons, it is of utmost importance that the mobile application is designed in such a way that it meets certain criteria to emerge as a winner in the market.
Lifecycle of a successful mobile app
A successful mobile application is an amalgamation of latest technology, tactful planning and management with excellent user experience. There are various stages in building a successful mobile application.