What are the advantages of big data in?

• more accurate decision-making: in NewVantage Partners company survey, 36.2% of respondents said better decisions is the primary objective of their big data analysis work. In addition, 84.1% of respondents said they have begun efforts towards that goal, 59.0% of respondents said there has been some measurable success, the overall success rate was 69.0%. Big data analysis can provide them with the required data-driven insight to business decision makers to help companies compete and business development.

• Increased productivity: another survey from the supplier Syncsort's found that 59.9% of respondents using Hadoop and Spark and other big data tools to improve the efficiency of the business. Modern big data tools enable analysts to analyze more data faster, thereby improving personal productivity. In addition, the insights obtained from these analyzes typically enables organizations to improve productivity more broadly throughout the company.

• Reduce costs: Syncsort and NewVantage company's surveys have found that big data analysis is helping companies reduce costs. Nearly three-fifths (59.4%) of respondents said Syncsort's big data tools to help them improve operational efficiency and reduce costs, NewVantage's survey, about two-thirds (66.7%) of the respondents He said they have started to use big data to reduce costs. Interestingly, however, only 13.0% of respondents chose cost reduction as the primary goal of big data analysis, which shows that for many people, this is just a very welcome side benefit.

• Improved customer service: respondents NewVantage companies surveyed, improve customer service is the second most common major target big data analytics projects, 53.4% ​​of respondents said they had some success in this regard. Social media, customer relationship management (CRM) system, providing customers with a lot of other information about their customers for today's business, they naturally will use this data to better serve these customers.

• Fraud Detection: Another common use of big data analysis for fraud detection, especially in the financial services industry. One advantage relies on machine learning analysis of large data systems is that they are very good at detecting patterns and abnormalities. These capabilities allow banks and credit card companies to find stolen credit card or fraudulent purchases, and often find problems before the cardholder knows the problem.

• Increase income: When organizations use big data to improve decision-making and improve customer service, increase revenue is usually a natural result. In Syncsort's survey, more than half of the respondents (54.7%) said they are using big data tools to increase revenue and accelerate growth with better insight.

• Increased flexibility: Again, from a survey Syncsort companies, 41.7% of respondents said that one of the benefits of big data is the ability to improve business / IT agility. Many organizations are using their big data to better align their IT and business work, and they are using their analysis to support faster, change its business strategy and tactics more frequently.

• Better Innovation: Innovation is another common interests of big data, NewVantage's survey found that 11.6% of executives are investment analysis, primarily as a means of innovation and subversion of the market. They believe that if they can gather insights competitors do not, they can lead through new products and services to other businesses.

• speed to market: in these areas, many said they would use big data to speed time to market. Only 8.8% of respondents said that the primary objective of big data, but 53.6% of respondents have begun work toward this goal, of which 54.1% of respondents said they had some success. This advantage of big data may also provide additional benefits, such as faster growth and higher incomes.
What are the advantages of big data in?
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