Big data is one of the most important parts of a business. It provides them with the opportunity to analyse vast data sets which can provide key statistics, patterns and trends that can be used to improve almost all aspects of the business.
Key Applications Include:
Marketing/Advertising - Big data is used to find ideal pricing and market niches, as well as targeted personalised ads base on customer behaviours and interests.
Logistics - optimises transport routes as well as inventory management by using predictive analysis based on large data sets.
Innovation - data driven product development by targeting consumer needs and optimising production costs.
Intelligence - spotting market trends early and gaining and advantage over competitors.
Business stats to market intel you just proved data is the ultimate cheat code
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