Big data management is crucial to every company growth. This is non-debatable. We live in world where people have become their own media-publishers. More data is created in two days, per Eric Schmidt, the executive chairman at Google, than there as been in the entire human history until 2013.
How Does Enterprise Big Data Analysis Help Businesses?
Big data is the flood of information that comes your way from your employees’, customers’ and all of your stakeholders’ behavior. This data should be stored and analyzed to drive your future actions. At iChanical, we help startups in Dubai and outside implement analytics applications that help them track their customers’ events (actions) and property (behavioral cycles) to grow their sales and online engagement. Our most common advise is stop slowing down your business when you have all the data to increase your turnover.
1) Why big data matters to every business
Big data management is equally important to all companies no matter how small or traditional, Big data creates value to businesses no matter how big or small they are, full-fledged assets rich corporate or companies starting fresh in Dubai. All companies are seeking to improve their business performance. The more information you have, the more power you have in your hands. Imagine you wanted to get an idea of whether your female target market are digging out your new design bags imports at a Dubai retail shop at a set 90% as a target level. Ten tries would be too small for a sample. This is what we might call intuitive data, so we might flex our muscles with 100, add a possible margin of error and formulate a better conclusion. Big data management is not only about discovery. It is mostly about formulating the best decisions to deal with data-proven obstacles . In this sense, companies of all shapes and sizes are receiving an incredible volume of information that ensure that all decision makers have performance data at their fingertips.
2) Size doesn’t matter
Big data is not about big companies. We ask the question what makes better business, quantity or quality? Don’t small businesses want to become big? Why not follow the path early on?
The best way to teach our client how to use data properly is to understand that big data management is also perfectly suitable for small businesses and startups at the budget they can afford. Every industry needs data to grow. Choose numbers you comprehend andcontrol. If you manage to have a well-formed data analysis for your key value (revenue) generating departments, you can capture, analyze, and A/B test the growth of your company’s sales immediately as data comes your way. In this regard, it is not about the amount of data you own but rather what you are doing with it.
A Forrester study found that many companies don’t really comprehend the notion of big data. We would like to change that. These companies believe big data is just a hype about a new technology abstractedness . Many of these companies, however, perform routine tasks to store this data. Ironically, they expect nothing from storage. They do not engage in analysis or if they do, it is a moot partial analysis.
This Boeing example will change that.
3) Boeing cuts $millions in fuel costs
Boeing is the world’s largest manufacturers and sellers of commercial planes. The execs knew that their data can help them draw meaningful actions to cut their costs of goods sold (COGS). One plane has 8,000 sensors capturing 8,000 data points every single second per Harish Rao, director of business analytics at Boeing. The managers applied the same censors to more than 500 planes. We’re talking terabytes of data. With all of the data that they wee collecting, Boeing has been able to to improve fuel efficiency, decrease flight time, and produce better planes. After collection, compartmentalization and analysis, Boeing has a acquired an immense tool to significantly increase their revenue. To this day, Boeing’s enterprise big data anlaysis and management surpasses that of Facebook, Google and retail giant Amazon.
The same model applies to every business in Dubai, the Middle East and the Eastern and Western hemisphere. iChanical team will work with your company to integrate affordable analytics app that had been tested by us that will help you grow your business. Contact us to schedule a call.