Big data has become one of hottest topics of discussion over the past few years. It plays a pivotal role in various aspects of businesses across industries and is also the favorite subject of academics too. The ability to mine massive volumes of data from a myriad of sources to analyze and gain insight has radically altered the dynamics of business functions, marketing, and sales.
Not just the major corporations, but even the start-ups may taste the success fruit by effectively uncovering the insights derived from data. Digging, analyzing, managing, and manipulating big data is pretty easy now, and most of the companies now have the ability to do it with minimal cost.
At the rise of 2017, we have seen that the businesses have far outgrown the basic concept of simply converting data to insights, but they can now use data to derive actionable and directive principles. The focus is now more on mining the data effectively in light of the actual organizational goals and by precisely targeting specific products and services.
This insight-driven approach will get more strengthened by the third quarter of 2017 to facilitate enhanced customer experience, market competitiveness, advanced level of security, and increased operational efficiency.
For example, a …