How Big Data Can Keep You Out of Trouble

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Today, organisations might not have the technology to really view the future, but they have the ability to eradicate all the guesswork and replace it with the hard data-driven business insights.

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Presentation Transcript

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Kovid Academy Catalyst for Digital Evolution Visit Us www.kovidacademy.com

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How Big Data Can Keep You Out of Trouble Can planet Mars be pondered as the second home of living for mankind Yes No or Maybe. Will the re-entry of Nokia with its upgraded business strategies can help it in retaining its past ethical market successYes No or Maybe. Either it may science or business or anything today everyone is making some sort of predictions about the future. Do you really know how these predictions are generally carried out If not then this article will explain you to understand how Big Data is used for predicting the future insights. Predictions are the matter of deriving strong future assumptions depending upon the past and present available data. From the business perspective predictions are crucial for the marketers to estimate and analyse their customer behaviours and the future market trends.

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Over the last couple of years Big Data has been transforming the way most of companies operate and looking the future. With the rapid explosion of online media social platforms and cloud technologies the amount of data generated day-to-day is massively increasing from Terabytes to Petabytes and giving way to Zettabytes. This data is largely serving as the raw business material for the marketers to acquire new business insights. In conjunction with Big Data predictive analytics has been emerged as a powerful tool for merging the real-time data with the statistical data and to foresee the future trends. Intelligent predictions help the organisations to encash every opportunity and also to avoid the catastrophic mistakes. Escalating Opportunities “BigDatamakesusSmarternot Wi se r ” – Tim Leberecht

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Different advancements in technology are enabling the marketers to leverage real time streaming data both structured and unstructured to predict the future outcomes. Using the Big Data analytics the retailers considering the patterns of the past are deriving the future predictions for strengthening their sales figures and market relationships. In the last couple of years Big Data has given the ray of hope and has enabled the marketers to utilise every single bit of data that has generated from the mobile phones sensors GPS etc. Intensified Expectations Retailers use various Big Data applications that processes the past buying and browsing history of the customers and displays the list of recommendations and suggestions matching with their desired future needs.

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For example while shopping online you might have noticed that most of the online retailers like Amazon Alibaba etc. offers a list of recommendations to you. Have you ever thought of how these e- retailers predict your requirements so accurately I guess you might not have get in-depth of it. Because we all may be in some sort of hurry and what matters to us is to select the desired product add to the cart and checkout. Here the recommendations and suggestions are the outcome of the Big Data applications that are used by the retailers giving your past data as the inputs. Spotting the Trends The ability to recognise what people wants before they get to know themselves is a Holy Grail for the marketers.

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In retail industry measuring the behaviour of both online and offline customers is a crucial task which however requires the past data to be compared with the external data such as economic growth weather conditions financial aspects etc. to develop a detailed picture of what the customers are likely to buy and when to buy. With Big Data analytics the marketers not only get the possibility for foreseeing the customer behaviours and market trends but also gets the feasibility for effective decision making and business performance enhancement. Some of the applicable business areas for the Big Data Analytics are:

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• Healthcare – can be used to identify the health related concerns with respect to geographies and populations • Natural Hazards – can be used to identify earthquakes floods and storms • Aviation Aerospace Industry – can be used to identify the engines and other parts of the aircrafts that are reaching its extinction state or getting faulty by nature • Political Surveys – can be used to foresee the election results using survey and opinion polls • Crime Patterns – can be used to identify the crime locations by understanding crime patterns

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Forecast to the Future The utilization of Big Data technology seems to be remarkable today but there are several key challenges with the future of Big Data Analytics that emanates from the nature of Big Data: evolving diverse and large. Some of the key challenges for Big Data are: • Identifying the data • Accessing the data • Security • Attaining maximum value to the data • Storage • Displaying the results

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Conclusion Today organisations might not have the technology to really view the future but they have the ability to eradicate all the guesswork and replace it with the hard data-driven business insights. Because the finest predictions befall only when we combine the hard data facts with the solid industry experiences. While business globalisation and market competitiveness has created a large demand for Big Data processing organisations has stated looking for the Big Data Scientists who can derive the most probable and fast outcomes with the available data. In order to fil these market gaps Kovid Academy with its vision of reinforcing the skills required for the Big Data Developers and Administrators is offering instructor led interactive online and classroom Big Data training sessions to carve you as the master of Big Data Analytics.

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Contact Us: supportkovidacademy.com US: 609-436-9548 IND: +91 9700022933. Thank you Kovid Academy. Website: https://kovidacademy.com

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