In today’s world everything is digitally connected, which means we all are generating data at a volume & speed which was never seen before. We are creating data every second when we click a website, when we tweet or share a picture on snapchat, when we email or blog, when we google a topic or when get an item delivered from Amazon.
Big data analytics helps organizations harness their data and use it to identify new opportunities. That, in turn, leads to smarter business moves, more efficient operations, higher profits and happier customers. Enterprises derive value in the following ways:
1.Cost reduction. Big data technologies such as Hadoop and cloud-based analytics bring significant cost advantages when it comes to storing large amounts of data – plus they can identify more efficient ways of doing business.
2.Faster, better decision making. With the speed of Hadoop and in-memory analytics, combined with the ability to analyze new sources of data, businesses are able to analyze information immediately – and make decisions based on what they’ve learned.
3.New products and services. With the ability to gauge customer needs and satisfaction through analytics comes the power to give customers what they want.