Among the different technologies applied, Big Data and its analysis become one of the most relevant. Its focus on loyalty and the customer shopping experience makes it a key tool in the development and growth of the company.
These concepts are part of business development in this new industrial revolution known as 4.0. Its objective is to save and process the large amount of data that is currently generated
The company has not changed much in its most basic concept, serving the needs of the consumer. But the consumer has evolved requesting more and more speed of response and anticipation, all this causes the company to be forced to take the digital leap to be more competitive.
Within this leap, collecting and analyzing data becomes a necessity, which implies constant updating and improvement.
But it is not only necessary to obtain and store them, but also to analyze them. For this, new tools are created with the aim of providing a competitive advantage to the company.
Influence of Analytics on Digital Transformation
- When talking about Analytics, reference is made to the need to process the different data that a company has. Thanks to this, great advantages are achieved for the company:
1. Decision Making:
The analysis of data in real-time allows companies to improve decision-making when facing a problem, both internal and external.
2. Purchase Decision:
The digital customer is faster and has a greater number of demands when making a purchase. Thanks to the speed of analysis, it is possible to identify expectations and improve the relationship.
Influence of Big Data on Digital Transformation
- Big Data refers to the set of data that has a volume, growth speed, and complexity that is impossible to treat in a conventional way. His arrival in the business world was a great advance, he gave solutions to questions that companies did not know or had.
- Having a large amount of data allows you to optimize the search for trends that help business growth. The possibility of having this great bank is essential for the analysis to be efficient and help performance and decision-making.
- A new concept, Big Data Analytics putting the two previous concepts together allows generating a mechanism that works fast and with a large amount of data. Its process is simple; collect, store, process, analyze and obtain a pattern thanks to the data. That is, working with the data generated and giving it a useful meaning for the company. This meaning is different depending on what is being pursued, obtaining four main types:
- Its objective is to know the behavior prior to the current moment, thanks to reports and statistics.
- It is the evolution of the previous one since it looks for the reason for them.
- Look to the future trying to respond to what is going to happen, that is, to the behavior of the market.
- It is based on the predictive but implements possible solutions to the future behavior of consumers or customers.
- Thanks to the use of this technology, companies are able to reduce costs and increase revenue. The importance of these processes is seen as relevant and it is a market that currently moves more than 210 billion dollars.
- This technology continues in constant development in order to face new challenges: growth and structuring of data and integration of data in the business world.
Two concepts that go hand in hand
Big Data and Analytics are two concepts that go hand in hand. The first one nourishes the second with the information it requires to generate the information that the company needs. The ability to do so in real-time provides a unique competitive advantage.