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. The concept of big data has been around for years; most organizations now understand that if they capture all the data that streams into their businesses, they can apply analytics and get significant value from it. But even in the 1950s, decades before anyone uttered the term “big data,” businesses were using basic analytics (essentially numbers in a spreadsheet that were manually examined) to uncover insights and trends.
The new benefits that big data analytics brings to the table, however, are speed and efficiency. Whereas a few years ago a business would have gathered information, run analytics and unearthed information that could be used for future decisions, today that business can identify insights for immediate decisions. The ability to work faster – and stay agile – gives organizations a competitive edge they didn’t have before.
Our customers got value in the following ways:
- Cost reduction. Big data technologies bring significant cost advantages when it comes to storing large amounts of data – plus they can identify more efficient ways of doing business.
- Faster, better decision making. With the speed of modern big data analytics tools, 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.
- New products and services. With the ability to gauge customer needs and satisfaction through analytics comes the power to give customers what they want. Therefore with big data analytics, more companies are creating new products to meet customers’ needs.
Examples of the completed projects:
- Customer churn prediction for one of the world’s largest banks
- Big data based solution to address the issue of revenue reduction for a large retail chain
- Data driven fraud prediction system for a telecom operator
- Data driven budgeting tool
- Analytic tools to mesure effectiveness of the SBA programs
- Analytics tools to mesure scientific output based on publication activities
- Data analytics hackaton for one of the world’s larges banks
- Development of a concept for a big data analytics BI unit for a multinational software vendor