The implementation of Big Data is now becoming very important for the leading corporation to outperform their competitors. Many organizations have shown the increased value of Big Data in strengthening their competitive advantage. Since the needs of Big Data processing continue to grow, more IT experts are turning to Big Data. According to Forbes, the percentage of IT specialists using Big Data descriptive and predictive statistics grew from 40% to 60%. Big Data can be leveraged by companies to drive growth and sustainable business practice that will assure business win.
Drive cost reduction without having a negative impact on business operations
According to Big Data Executive Survey 2017, decreasing expenses is the highest success rate of Big Data in helping businesses gaining competitive edge. Big Data can help organizations reduce their outgoing expenses. It will help them determine in which area of their businesses where cost savings can be implemented without having a negative impact on company processes, from assessing energy consumption to evaluating staff productivity. Not only that, Big Data can help businesses to properly optimize assets based on data source and therefore extending the lifespan of assets and reducing downtime. This will ensure a competitive advantage by ensuring the organization makes the most out of its asset and therefore contributes to cost savings initiatives.
Observe various customer related patterns and trends to boost customer acquisition and retention
Customers should always be the center of every business. It is impossible for a company to obtain success without trying to build a solid customer base. The use of Big Data can help enterprises to observe customer behavior and find patterns and trends that will give important insight for the company. In result it will grow loyalty and boost customer acquisition and retention. Big Data can also help organizations to find new revenue streams and grow into other areas of the business. Understanding customer trends and patterns in the market will help companies to make choices about the direction on where they should go, including assessing potential partnerships with other businesses.
See a potential risk, mitigate it before it occurs, and prevent business loss
Big Data can help organizations to have a better risk management process. It allows companies to see a potential risk and create a mitigation plan before it occurs. Being able to manage business risk will lead the company to prevent loss and therefore ensuring business sustainability. The use of Big Data in risk management can make your company to act fast and respond to operational challenges in a more effective way. Having Big Data to mitigate risk will be a huge business advantage that will help you win the market.
Big Data analytics can help your business grow. Companies will gain competitive advantage, decrease operational costs, and drive customer satisfaction through the implementation of Big Data Indonesia. Big Data continues to rise and help many organizations to win the market competition because of its ability to uncover unsuspected patterns and trends to help businesses make data-driven decision making.
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