What are the advantages of big data analytics?

Question

Could someone tell me what are the advantages of big data analytics?

Answer 1

With Big data analytics, organizations around the world could fully harness the true potential of a large amount of data they possess and drive that to make business operations smooth, profitable, identify new opportunities, uncover new hidden trends, and whatnot. As rightly said, merely possessing huge data is of no use, until and unless you uncover the insights from it that you could use in the business to drive your profits and gain customer trust and interest.

Well, it's out of the scope of this answer to list out entire benefits of Big data analytics, anyway here are some of the advantages or benefits of big data analytics:

1. Big data analytics helps in raising sales and retaining customer loyalty.
2. Implementing Big data analytics into the business helps in reducing expenditure and in the process also helps in boosting the efficiency of the organization multi-fold times.
3. Enables real-time monitoring, which helps any company to act fast by catching the trend.
4. With big data analytics, corporations are investing a huge pool of money in the brightest talent to uncover insights to innovate and progress in the business and much more.

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