Application of Big Data Analytics in Business

Big data analytics has been a buzzword in the business world for quite some time now. But what is it exactly? And how can companies take advantage of it? In this article, we will look at the definition of big data analytics and some of its essential applications to help businesses achieve their goals in a beneficial way. We will also look at the courses one can enroll in to start learning and benchmark how much analysts are earning around the world.

Big data analytics helps organizations mine their data and use it to identify new opportunities. This, in turn, leads to more innovative business moves, more efficient operations, higher profits, and happier customers. It is fascinating that businesses can boost customer acquisition and retention through big data analytics. Organizations are under constant pressure to find new customers and keep those they have satisfied. Big data analytics can help them do both in the best possible way. By analyzing customer data, businesses can identify trends and target specific audiences with personalized messages that are more likely to result in a recurring sale or business activity.

Additionally, big data analytics can track customer behavior and identify when they are at risk of leaving for a competitor. This user-specific information can then be used to take action to retain those customers by focusing on what’s important to them, such as offering discounts, faster delivery, or providing better customer service. By harnessing the power of big data analytics, businesses can increase their rates of customer acquisition and retention, giving them a significant competitive advantage. Some companies like Google and Facebook have continued to leverage big data strategically to nurture their relationships with customers around the world.

In addition to the above, organizations of all types and sizes can now gain marketing insights through big data analytics. You might be curious about how big data analytics can help you improve your business, and yes, you’re in luck! In this section, we’ll explore the ways big data analytics can be used to deliver marketing insights. First, we’ll define big data analytics. Big data analysis is the process of analyzing large sets of data to discover patterns and trends – it’s as simple as that. This analysis can help us understand customer behavior, develop marketing strategies and track the performance of marketing campaigns.

Big data analytics can also be used to develop more effective marketing strategies. For example, businesses can use demographic data (eg, age, gender, location) to segment their customer base and create targeted marketing messages for each group. Additionally, businesses can use predictive analytics to identify potential future customers.

Additionally, your organization can drive innovation and product development through big data analytics. Companies are now turning to big data analytics to drive innovation and product development. By understanding customer behavior and preferences, businesses can develop new products and services that meet their specific needs and requirements. Additionally, big data analytics can also help identify trends and patterns, which can be used to strategically adapt communication.

However, it should be noted that analytics can find interesting applications in various sectors. One of them that we will examine is the health sector. Healthcare providers can obtain data from patient portals, medical research studies, managed wearable devices, search engine platforms, and other generic databases. There is no doubt that big data is having a profound impact on the healthcare industry. Healthcare organizations use big data analytics to improve a wide range of operations, from patient care to administrative functions. The above leads to:

1. Improved patient care: Big data can identify patterns in patient behavior and health outcomes. Hospitals can use this information to design more effective treatments and interventions.

2. Reduce costs: Healthcare is a notoriously expensive industry. Big data analytics can identify areas where cost savings can be made. For example, analyzing patient records can help determine which treatments are most effective and which are unnecessary or could be replaced by cheaper alternatives.

3. Improve administrative efficiency: Big data can also streamline administrative processes within healthcare organizations. For example, administrators can use it to automate appointment and medication scheduling.

4. Improve research: The vast amount of data generated by healthcare organizations is a rich resource for researchers. Big data analysis can identify trends and correlations that could lead to new medical breakthroughs.

Having seen what big data does and its many benefits, we will now focus on the best big data analytics companies to allow us to take a look at the technologies that can support our business. There are many big data analytics companies that offer a variety of services. Here are some of the top big data analytics companies that can help meet your business needs:

1.IBM: is a leader in big data and analytics because of its continued investment in and contribution to helping other organizations and individuals master data analytics. They offer various services including data management, warehousing, and mining. They partner with select companies to create industry-leading data and AI services using open-source ecosystems, all developed to achieve faster data and analytics at scale. They offer an enterprise-class data replication software platform that stores data consistently across a distributed environment and the hybrid cloud. This data duplication tool is powered by high-performance coordination machines that leverage consensus to keep unstructured data accessible, accurate, and consistent across different locations. While researching this article, I found an entry-level course on Coursera – IBM Data Analyst Professional Certificate. It helps to develop one’s potential in data analysis while developing job-ready skills for an in-demand career as a data analyst. The perfect part is that “No prior degree or experience is required” to begin the learning journey.

2. Oracle: offers a complete set of big data solutions, including software, hardware and services. Their extensive data services ensure that data professionals can manage, catalog and process raw data. Oracle offers object storage and data lakes based on Hadoop for persistence, Spark for processing and analysis via Oracle Cloud SQL or the customer’s analysis tool of choice.

3.Microsoft: offers a variety of big data solutions, including Azure HDInsight, SQL Server, and Power BI. You might want to visit Udemy to take a Microsoft Power Business Intelligence course to give you a head start on your path to becoming a data analyst.

4. Amazon: offers various big data services, including Amazon EMR, Amazon Redshift, and Amazon Kinesis. Enriching one’s useful knowledge improves the balance carried over to the beginning of each new month.

5.Google: offers a variety of big data solutions, including Google BigQuery, Google Cloud Storage, and Google Cloud Dataproc.

In summary, we see how essential Big Data is, which is why leading companies are offering solutions to improve it.

In conclusion, among the top ten technology demand roles in the world, Big Data Engineering ranks third, with an annual average of $140,000 on the table. Data architects design the vision and plan for the organization’s data framework, while the data engineer is responsible for creating that vision. The benefit is that you can work from home as a Big Data Architect or Engineer, delivering valuable insights to multiple organizations, even countries, while helping them make better, people-centric business decisions.

Thank you for the sustained investment over time. Please follow me on Medium: https://medium.com/@roariyo and LinkedIn: https://www.linkedin.com/in/olufemi-ariyo-923ba6130/ or email me: [email protected]

Lance B. Holton