For any company, ability to analyze, access and manage big amount of data is critical to ensure successful operations. Companies are increasingly looking for ways to reduce costs of using large data while optimizing the value of big data available.
Today companies like Amazon are using business data to improve their customer relations. There are endless big data uses where companies have leveraged Big Data to improve productivity. Big data have helped in enhancing operational productivity as companies have started to place sensors throughout the office for tracking employee movements
The larger the company is, the diverse is the company and hence more data is generated from social media outlets combined with sensor and machine data. Big data can help in improving operational efficiency by enabling organizations to gain insights from analyzing various data sources. Some of the ways big data can increase operational efficiency are:
1. Enhancing Marketing Efficiency
Big data can be used to customize user experience (UX) by introducing timely offers to attract the targeted audience across various marketing environment. Data analytics can help in analyzing when and what buyers are buying. The marketing departments can then take necessary action based on this input.
If your marketing budget is less, you may avoid delivering ad messages to those who are your clients already or who are least likely to become your customers. You can link customer intelligence to marketing campaigns and suppress ad messages for people unsuited for certain offers. This helps is creating dynamic marketing campaign data based on which live campaigns can be managed. This prevents businesses from wasting funds on campaigns unnecessarily.
2. Enhancing customer empathy
Customer service is mainly related to providing customer's queries. Big data enables advanced information access that allows companies to serve their clients in a more precise manner. Big data advanced analytics solutions allow companies to use data collected from their social media platforms, sales channels to develop an enhanced customer service to cater for all the customers' needs and individual preferences.
3. Enhancing production efficiency
Use of predictive analytics in big data helps manufacturing companies improve the effectiveness by guiding them step by step to reducing outages and improving production by anticipating future demands and taking necessary measures to match demand.
4. More Targeted Marketing
Big data has allowed businesses to create precise targeted marketing campaigns. Big data analysis can be highly accurate. The high accuracy of big data allows companies to target marketing to perceived customer needs. Big data analysis can help business forecast what products customers might need in the future. While current data analysis techniques are not quite at the level to make these kinds of predictions regularly, they are converging to that.