OnlineBusinessDegree.org recently created an interesting
infographic to help explain the future of Big Data. As one of the hot buzzwords for 2012 it seems
a fitting way to start the New Year.
I like the section explaining how Big Data can be useful:
- It creates transparency that can be used to
increase efficiency.
- It allows for better analysis of employee and
systems performances.
- It can replace and support human decision making
with automated algorithms.
- It creates innovative business models, products
and services.
This is helpful guidance as many companies struggle to
figure out how to get value out of their Big Data. With the right analytic and decision making
tools, Big Data can be transformed from an unmanageable collection of raw
content into valuable insights into how people behave, what they may buy, and
how they are likely to respond to specific offers. This should be an essential component of
every business plan. With predictive analytics and decision optimization,
companies can use these insights to better predict future customer behavior and
adapt their offers and actions accordingly to deliver the right deal to the right
customer at the right time within the right context. When done correctly this results in happier
customers and increased profits that also please shareholders. And that’s a sure way to start the new year
right.
See
full infographic.
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