Big Data

Improved Decisions

Higher Sales

Higher Profits

The near future

How does the coming few years look like for Big Data Adaptation?

Even at this early stage, more and more medium & large sized companies are turning to big data for performance.

How is it useful?

More Profitability for Companies contd...

Big Data analytics have identified and reported millions of dollars worth of financial frauds to the management.

cut unfavorable

Make time and costs your best friends by taking time sensitive decisions in-time, thereby, reducing costs.

Differentiate between performers and non performers.

Analyze your projects costs from every possible angle.

Measure performance every down to the minute level, and take critical corrective actions. Reward the performers more, and revoke the latter.

With Big Data, you can analyze every little detail of your projects costs, and identify the hidden things that are affecting your costs.

How is it useful?

A conversation between the top management of an IT services company.

CEO

We need more profit. We need more sales.

How is it useful?

CEO

Ok... intrigue me.

More Profitability for Companies.

MKT. Mgr:

Decide the offer, by knowing customer's next move.

Make the right offer to the right customer, at the right time.

Decide your future investments.

New Microsoft boss Satya Nadella reckons the "data dividend" could be worth $1.6 trillion (£950bn; 1.2tn euros) to big data business over the next four years*.

In US alone, by 2018, there will be a 50-60% shortfall of data scientists*.

Big Data

Customers are more likely to buy something that is targeted directly to them right before they need it.

The basic information, such as the customer's name, age, gender etc. is in your transactional history.

Big data anlaytics, provide you with time and cost effective decision support, based on highly complex, yet increasingly well presented data analytics, coming from various channels at various speeds.

Data Warehousing (DW)

Business Intelligence (BI)

&

For example, before Mother’s Day let Big Data analysis tell you who sends what kinds of gifts to their mothers or mothers-in-law and present those individuals an incentive to buy.

Based on your customer's current purchase, identify the buying pattern, and decide your offer. Big Data analytics inform about your customer's most likely next purchase, thereby allowing you to make better sales offer decisions.

A marketing manager can drop several items that were of lesser interest, and promote items of more interest. Remember, we are talking about "Interest", that can't be measured. With Big Data, we can always measure it.

CEO

How does it benefit companies of our size?

MKT. Mgr:

We have seen that better management decisions, result in higher levels of sales.

Better market research, critical analysis,smart and critical intelligence for time-sensitive decisions.

By knowing the patterns of purchase, likes, and dislikes, choices of colors, packaging, basically every little detail, we customized our product and sold the customer exactly what they wanted. On one side, we gained customer loyalty and satisfaction, on the other side, improved sales.

Cost optimization and prevention of financial fraud.

Improved delinquent collections.

Cost optimization and prevention of financial fraud.

Higher sales, lead to higher profits.

And this list goes on and on and on...

In conclusion, with help of Big Data, we improved in sales, and ultimately in profitability.

CEO

That's great to hear, but how does big data

improve sales and profits?

Assuming we implement big data with BI and DW Systems. Now we know who is visitng our site, and social media, to the finest detail, such as how many times a link was clicked. We know the buying patterns of our customers, so we know when to offer discounts and sales.

We can go down to the level of finding the gender and age-group of our customers, so now, we know which audience to target in our marketing. We also know the preferences of individual customers, so we know what deals are the most profitable, and when.

As for profitably, we know who our top performers are, and who is not performing, so we can optimize our human resource costs.

All these things,and many more contribute to our profitability, and give us a competitive advantage. The key is, investing in it today, so we get ahead of others.

* http://spotfire.tibco.com/blog/?p=6886

* source:http://www.bbc.com/news/business-27065762

Big Data?

What is Big Data?

Structured Data

Semi Structured

Data

Form of structured data that does not conform with all the formal structure of data models associated with relational databases

e.g. XML & JSON

Unstructured Data

Data that either does not have a pre-defined data model or is not organized in a pre-defined manner.