Big Data has the potential to help companies achieve real results by going through cycles of predictive modeling and data analysis. Information technology (IT) executives have attempted to figure out how they can use the four ‘V’s of big data – volume, variety, veracity and velocity.
Effective Marketing Decisions with Big Data Analytics
Big Data Analytics leverages the four ‘V’s and delivers detailed insights for executing better decisions. Take an example of a marketer who can predict the customer registration pattern with the help of big data analytics. With detailed analytics, the decision maker can analyze when the customers have registered the most and also know which marketing campaigns has resulted in increased registrations.
Apart from marketing, there are many business functions that can add value by leveraging the power of Big Data Analytics for:
Instead of using a warehouse to store and process large data quantities, Hadoop is used and data moves to enterprise warehouses for other applications. Wells Fargo and Citi have adopted Hadoop along with their current analytics storage and processing capabilities. It is possible that cloud and Hadoop will continue to lend a helping hand to firms wanting to manage big data.
Thus, big data analytics helps organizations to take better and cost-effective decisions that accentuate the effectiveness of their business strategies and ultimately boost the bottom-line.