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The Importance Of Big Data To Business

900 words - 4 pages

Why Big-Data is important
Why is Data is important for a company? What are the effects?
Competitive advantage:
All companies obtain information on their customers or on their product. All these information may help a business to develop new strategies. They can also forge ahead by treating these big data. All companies have in their possession those information, so use it can be very useful. A company can identify for example their weaknesses and can improve their strategy to become the best on the market. It will help to create more opportunities for the company and maybe create a real competitive advantage.
Big Data allows a segmentation of customers and therefore much more ...view middle of the document...

It will influence the success of the company and it may be decisive with the competition that they have today. The decision-making in a company is one of the most difficult actions to take. It is what will be decisive for the future. Big Data has the advantage to be very significant, so you can find multiple information that could affect your company. Minimizing risk is also an important factor that you may be reduce with information. By going and looking for little but very useful information, companies will improve their capacity to succeed and to adapt their offer.
Big Data can be used to develop the next generation of products and services:
With all data that companies collect everyday they start to have a good idea of what the customer is waiting for. We had the Bluetooth technology for music or for cell phones. The goal of a company is to satisfy their client by offer them the best product at the best price in a less time. They can increase their capability to make product or service innovation. It is exactly what Netflix did with the delivery of DVD and now an automated and personalized entertainment system.
Retail operations:
Big Data give the opportunity to find more and more efficient way for the retailing operation. This is also one of the difficult jobs in a company. So it can help to find some faster way to the operational work and be much more efficient and increase the capacity of the company.
In conclusion, we can say that big Data create value in all the different department of a company: Financial, Marketing, and administration and also the value chain. We can also note that nowadays, the IT service...

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