How big data is used in business?

Question

Could someone tell me how Big Data is used in Business?

Answer 1

Big Data is used in Business around the world for quite some time now for fetching higher profits. I will list down some points for your reference as to how the companies are using Big Data technology in their business operations.

• To develop a contingency plan: in case of a failure or emergency, the company could deploy and take necessary steps as outlined in their research through the usage of big data.
• For better understanding customer behavior and your competitors.
• For enhancing the marketing strategies by better gauging the trends.
• Optimize the workflows and the entire operations inside the company for boosted productivity and efficiency which will help in gaining higher ROI.

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