Big data is basically the collection of raw data that is stored for analysis and this information can be used by organizations and companies to make better, wiser decisions and increase efficiency. There are big data courses that students can take in this fast-growing field of collecting information to improve the day-to-day running of a company, eventually leading to greater growth and success. Here are some benefits of big data in business.

  1. Saving Cost

There are certain tools associated with big data such as Cloud-Based Analytics and Hadoop which will allow cost saving benefits to businesses. Since the data can be stored in large amounts, these tools can help to pinpoint a number of better ways to do business.

  1. Anticipation Of Customer Needs

Companies and big organizations have to understand the needs of their customers and make sure that each customer’s experience is a good one. With the collection of critical information, accurately interacting with customers is made easier. Analyzing this data is important in understanding the behaviour of customers, so it helps to anticipate their needs, making customer relations more smoother.

  1. Offering Relevant Products

By collecting important data, such as polls from customers on their opinions and thoughts, the data can be analyzed and will help companies to stay competitive and offer relevant products to customers even before it’s called for. This helps companies to make better and faster decisions by attempting to read a customer’s mind.

  1. Understanding Market Conditions

Big data analysis helps a company to fully understand the current market conditions and trends. Analyzing what each customer is buying and what is being searched, companies can produce products accordingly. This helps a company to stay ahead of other competitors. If you have regularly purchased on Amazon, you may receive an email from them, suggesting products to you, based on your recent purchases. This is one example of big data collection and working with it. Visit the Schulich Executive Education Centre website to learn more, because they may be able to provide you with the information that you need.

  1. Sentiment Analysis

A large company may have taken years to develop a good reputation online. Naturally, the company would want this to continue. Using big data tools will allow a company to do sentiment analysis. Companies can find out what is being said about them online, whether it’s in social media or any other place where people can write their thoughts and opinions. These opinions can be positive or negative. Using big data tools, companies can monitor what’s being said about them online and better improve their services.

As a student contemplating big data certification, know that you’re getting into a fast-moving, fast-changing field with lots of analytics involved. Generally, there are no prerequisites but Hadoop is definitely used a lot, but there are loads of other technologies and tools.

Cloud computing and big data are hot IT topics, so by getting into it, you will have a successful career.

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Lance is a former professor of Business at USC and now spends his spare time writing for UpTrendCollege.com.

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