How brands using big data analytics

梁開恒

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https://www.mentionlytics.com/blog/5-real-world-examples-of-how-brands-are-using-big-data-analytics/


Big Data analytics involves examining large amounts of data and analyzing the data to get insights and predict coming up trends that could make proper business decisions. 

Big Data analytics is using advanced software systems. This can help the company reduce the analytics time for speedy and accurate decision making. This ability to work faster and achieve agility offers competitive advantages to businesses. And below is an example of five real-world examples of how brands are using big data analytics.


  1. Using big data analytics to boost customer acquisition and retention. The customer is the most important asset any business depends on. Every business needs a customer base, however, even if the business has a database, they still cannot disregard what customers are looking for, if they disregard it, a business might lose a client at the end. For example, in 2015 Coca-Cola built a digital-led loyalty program to strengthen its data strategy as the data strategy director said “data plays an increasingly important role in marketing and product development, and it’s better to listen more than we speak”.

  2. Use big data analytics to solve advertisers' problems and offer marketing insights. Big data analytics can change all business operations that include the ability to match customer expectations. Big data is good for advertisers since the companies can use this data to understand customer purchasing behaviors, as everyone knows, a more targeted and personalized campaign means a business can save more money and increase efficiency by targeting the right customer. For example, Netflix uses big data analytics to analyze a suggested movie for you from your past search and watch data. This data can tell them what kind of movies the subscriber likes most.

  3. Big data analytic for risk management. Basically, a risk management plan  is a critical investment for any businesses. Big data analytics has contributed greatly to develop a risk management solution. But, to achieve this, organizations have to collect internal data first, to gain clear insights that can benefit them. A proper big data system helps ensure that areas of weakness or risk are identified.

  4. Big data analytics as a driver of innovation and product development. Every design process begins from establishing what exactly fits to customers. There are various channels that companies can collect data about what customers need. Then,  use a big data analytics system to analyze and get insights.

  5. Use of big data in the Supply chain management. Modern supply chain systems based on big data enable more complex supplier networks. These are built on knowledge sharing and hidh level collaboration to achieve contextual intelligence.

Comments

  1. annaJune 26, 2020 at 4:24 AM

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  2. annaJune 26, 2020 at 7:38 AM

    This is such an interesting article. It can be seen that now people are gaining more interests in the big data and such. It is not only important for us and our daily lives, but it has also affected in so many different career paths. Many businesses have to seek out to learning and understanding more about this big data stuffs. And it is for sure can help them with all of the problems they find and how to solve it if they can use this data correctly. The big data can help them to enhance their work performance, not only their own performance but also their whole business system. It can help about making a decision on investing something or many more, and also time-wasted reducing. However, the big data also come with a risk, so you need to become an expert or at least understand what the data and information is about to be able to leverage and be able to use those complex information and make it the greatest efforts out of it. By learning about big data now, will make the company becomes incompatible with another company and even beyond them. So the importance of study and understand about this big data will be able to make them achieve their goals and become even more successful. As doing a business, it is already made them a data to collect, the receipt, the customer walk in, etc. These all are useful data for the company to analyse and ready for processing.

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