5 real-world examples of how brands are using big data analytics
Blog#5 5 real-world examples of how brands are using big data analytics
This article introduces 5 big data application examples in life. I think the examples it provides are clear and easy to understand. For example, the article mentions how Netflix uses big data to solve advertiser problems and provide marketing insights. The company has more than 100 million subscribers and collects a lot of data, which is the key to gaining Netflix's position in the industry. Because I am one of the subscribers, I know that Netflix will send me suggestions about the next movie I should watch or the video I like. I think this is a convenient and thoughtful design. If I do n’t have time to browse TV series or movies that appeal to me, I can try the list provided by Netflix. The company used my past research and observed data to do this. The company used my past research and observed data to do this. I think data can give them insight into what subscribers are most interested in and use it successfully. In addition, I am also impressed with the way big data is used in supply chain management. Take Pepsi-Cola as an example. It is a consumer goods company that relies on large amounts of data for effective supply chain management. I think big data can also be applied to international logistics management. The company can use it to reduce inventory costs, coordinate and forecast production and transportation needs. It ensures that retailers provide the right products at the right time and in the right quantity. After reading the article, I realized that having big data in the company can achieve a competitive advantage. However, enterprises should have the ability to hire relevant professionals and establish databases.
After reading this article, I find that in the industries which had involved big data system, they can reach customers’ need in a more successful way and even with less cost. Although I don’t us Netflix as one of my entertainment and as the reputation of Netflix, public can see how successful they are.
ReplyDeleteFor me, Youtube is one of the most commonly used channels for me. I use this to watch new music video, TV series introduction or other Youtubers’ sharing. After I finished the video I watched, I can click the recommendation videos to further watch some videos that was related. So it is really a convenient design for public to easily find what they want and new things on the internet.
Recently, instergram also uses similar big data system to match people’s preference. As I browse something related to Korean drama, in the researching page, instergram will give me some edited and famous short video to me and to see what I like. After that, they can find something that I really interested in and give me other choice of drama.
And maybe after that I will use Google to deeper realize like who was the director of this movie, or who wrote this song… and then pop advertisements will appear something what I searched before. Sounds like a horrible fact, but it is what truly happening in our life. But we have to say, if these platforms didn’t bring in this big data system, we cannot have this kind of convenient service.
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After reading this article, I have learn about Big Data is very useful and helpful in various businesses and industries in the world. This article mentioned about five real-world examples of how big brands are using big data analytics. First, Boosting Customer Acquisition and Retention that help to observe various customer behavior related patterns and trends. Understanding the customer insights will allow business to be able to deliver what the customers need, thus, it can help to attain high customer retention.
Second, Solving Advertisers Problem and Offer Marketing Insights that can help to improve and change business operations, such as company’s production line or marketing and advertising campaigns. This can help business to scope their target marketing and reduce their costs, so they can serve services to potential customers with right products and services.
Third, Risk management that big data analytics helps to develop of risk management solutions, so business can identify and mitigate risks in their business. With enhancing the quality of risk management models, they can create efficient risk management strategies and make a right decisions to mitigate risks.
Fourth, a Driver of Innovations and Product Development that big data helps business to innovate and redevelop their products. By correcting, they can use them to design new product lines and re-designing the existing products.
Last, Supply Chain Management that Big data offers supplier networks greater accuracy, clarity and Insights. Moreover, suppliers achieve contextual intelligence across the supply chains. Suppliers can use modern supply chain systems to leverage on higher levels of contextual intelligence which is necessary for supply chain success. It is good for supply chain management
In conclusion, Big data analytics is an important investment for a growing business and help business to develop many innovative things to our world.
This article is talking about how big data is used and how it applies.
ReplyDeleteSo I am going to talk about the two examples at the beginning, which are the brands I know.
First, big data can use on observing the customers' related patterns and trends. Observing customer behavior is important to trigger loyalty. With proper customer data analytics mechanism in place, the company is able to derive critical behavioral insights that it needs to act on so as to retain the customer base. An example of this is Coca-Cola. They get the data by getting the customers' opinions from the mail, phone, and social media.
Second, big data analysis can help change the company operations, to meet customer expectations. More targeted and personalized campaigns mean that companies can save money and ensure efficiency. This is because they target high-potential customers with the right products. Big data analysis is good for advertisers because companies can use this data to understand customers’ buying behavior. And it gives an example which is Netflix.
I am also one of the Netflix subscribers. So when I get into the app, I can see the recommendation that I might like to watch it. Everyone has different kinds of recommendations, like when I look at my dad's accounts, the type of movie recommendations are very different from mine. It is base on our searching history and the data that we have watched. This data is used to let them know what subscribers are most interested in.