How Big Data Can Help You Do Wonders In Your Business


How Big Data Can Help You Do Wonders In Your Business
Name: 李昀真
Student ID: D0740725
Link:https://www.simplilearn.com/how-big-data-can-help-do-wonders-in-business-rar398-article


 Big Data - A New Competitive Advantage 
 In many industries, new entrants and established competitors use data-driven strategies to compete, capture and innovate. You can find examples of Big Data usage in almost every industry. According to experts, big data can create many new growth opportunities. It can even trigger new business categories, such as the business of analyzing and aggregating industry data. Companies should start to build their Big Data capabilities. 
Re-Develop Products
 Big Data is one of the best ways to collect feedback. You can even break down feedback from various geographic and demographic groups. It helps you understand the customers’ thoughts of your services and products. Therefore, you can make the changes and re-develop your products. 
Perform Risk Analysis 
Success depends on many different factors. It’s not just depends on about how you manage the company. Economic and social factors are important for determining your accomplishments. Big data can perform predictive analysis, you can analyze and scan social media feeds and newspaper reports. Thus, you can keep up with the latest trends and developments in the industry. 
Data Safety
 Big data tools enable you to plot the entire data landscape of the entire company. This allows you to analyze various internal threats. With this information, you can ensure the security of sensitive information. Therefore, most industries have been focusing on big data to ensure data security and protection. This is especially important in organizations that deal with financial information, credit and debit card information, and other such practices.

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