Big Data is a popular term used to describe the exponential growth and availability of data, both structured and unstructured. The digital age has enabled large amounts of data to be available for businesses and hence Big Data has become more important to them for accurate analysis. More accurate analyses may lead to more confident decision-making and better decisions can mean greater operational efficiencies, cost reductions and reduced risk.
With the availability of so many sources in today's world, acquiring large amounts of data is not the real challenge, but rather what we do with the data is what really matters. The hopeful vision is that organizations will be able to take data from any source, harness relevant data and analyze it to find answers that enable 1) cost reductions, 2) time reductions, 3) new product development and optimized offerings, and 4) smarter business decision making. By combining Big Data and high powered analytics, it is possible to:
- Determine root causes of failures, issues and defects in near real-time, resulting in potentially saving billions of dollars annually.
- Optimize routes for many thousands of package delivery vehicles while they are on the road.
- Analyze millions of SKUs to determine prices that maximize profit and clear inventory.
- Generate retail coupons at the point of sale based on the customer's current and past purchases.
- Send tailored recommendations to mobile devices while customers are in the right area to take advantage of offers.
- Recalculate entire risk portfolios in minutes.
- Quickly identify customers who matter the most.
- Use click stream analysis and data mining to detect fraudulent behavior.
- Expertise of our consultants bring in extensive experience and industry specific leading practices requisite to tackle virtually any data challenge. Our job is to help you understand how to better leverage information efficiently, which performance metrics matter most to different industries, and what tools and techniques transform data sources into actionable insights.