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Big Data can help in transforming major business processes by proper and correct analysis of available data. Such business processes include:
a) Procurement with Big data
Demand can be forecasted properly as per different conditions available with Big Data.
b) Big data in Product development
What product to be developed to increase sales
c) Big data in manufacturing sector
Big data can be used to identify machinery and process variations that may be indicators of quality problems.
d) Big data for product distribution
Based on data available, its analysis could be done to ensure proper distribution in proper market.
e) Big data in Marketing field
Big data helps in knowing better marketing strategy that could increase ale.
f) Price Management using Big data
To maintain position in market, price management plays a key role and Big data helps business in knowing market trend for it.
Big Data plays a major role in sales for retail market also.
h) Big data in Sales
It helps in increasing sale for the business. It also helps in optimizing assignment of sales resources and accounts, product mix and other operations.
i) Store Operations using Big Data
Different tools can be used to monitor store operations which reduce manual work. Big data helps in adjusting inventory levels on the basis of predicted buying patterns, study of demographics, weather, key events, and other factors.
j) Big data in Human Resources
Big Data has changed way of recruitment and other HR operations. You can also find out the characteristics and behaviors of successful and effective employees, as well as other employee insights to manage talent better.
k) Big data in Banking
Big Data has provided biggest opportunity to companies like Citi bank to see the big picture due to balancing the sensitive nature of the data for delivering value to clients along with prioritizing the privacy and protection of information. It has been fully adopted by many companies to drive business growth and enhance the services they provide to customers. Understand further how Income tax has benefited from Big data.
l) Big data in Finance sector
Financial services have widely adopted big data analytics to inform better investment decisions with consistent returns. The big data pendulum for financial services has swung from passing fad to large deployments last year.
m) Big data in Telecom
A recent report, “Global Big Data Analytics Market in Telecom Industry 2014-2018,” found that use of data analytics tools in telecom sector is expected to grow at a compound annual growth rate of 28.28 percent over the next four years. Mobile Telecom harnesses Big Data with combined actuate and hadoop solution.
n) Big data in retail sector
Retailers harness Big Data to offer consumers personalized shopping experiences. Analyzing how a customer came to make a purchase, or the path to purchase, is 1 way big data tech is making a mark in retail. 66% of retailers have made financial gains in customer relationship management through big data. Learn more about Big data retail usage here.
o) Big data in HealthCare
Big data is used for analyzing data in the electronic medical record (EMR) system with the goal of reducing costs and improving patient care. This Data includes the unstructured data from physician notes, pathology reports etc. Big Data and healthcare analytics have the power to predict, prevent & cure diseases. Learn more usage of Big data for healthcare here.
p) Big data in Media and Entertainment
Big data is changing the media and entertainment industry, giving users and viewers a much more personalized and enriched experience. Big data is used for increasing revenues, understanding real-time customer sentiment, increasing marketing effectiveness and ratings and viewership.
q) Big Data in tourism
Big data is transforming the global tourism industry. People know more about the world than ever before. People have much more detailed itineraries these days with the help of Big data.
r) Big data in Airlines
Big Data and Analytics give wings to the Aviation Industry. An airline now knows where a plane is headed, where a passenger is sitting, and what a passenger is viewing on the IFE or connectivity system.
s) Big data in Social Media
Big data is a driving factor behind every marketing decision made by social media companies and it is driving personalization to the extreme.
t) Big data in Ecosystem conservation