Which Big Data Analytics Tools Should I Use?
For some decades now companies have been gathering large amounts of data. Over the last few years more light has been shed on how the information obtained from customers is being used. While we all know that knowledge equates to power, it takes accurate interpretation of the information gathered to transform it into a powerful tool for businesses. The use of big data analytics comes in handy once you know what to look for within the information collated.
For it to be considered big data, it needs to be not only large in its volume of results, but also varied in its format. An IBM report highlighted to businesses just how effective interpretation of the hundreds of thousands of tweets sent in a single minute are. This could reveal how customers are viewing any given business products. The information also highlighted how that information could be used to better understand consumers, ultimately increasing revenue.
The four main areas where big data analytics is of benefit:
- Develop and promote an existing product or service being offered
- Improve internal processing
- Develop a new product or service to offer
- Transform the current business model