Bernadette Handbury in IT - Information Technology Feb 21, 2020 · 3 min read · +300

Big Data Use cases

Big Data Use cases

Knowing that the definition of big data is clear, let's look at different possible use cases. Of course, the possible use cases are different for each department and each type of organization. However, there are some general big data use cases that show you the possibilities of big data in your organization. API services like Random API provide a lot of useful data.

1. Know your customers in real time.

In the past, we used focus groups and surveys to understand where our customers were. The results are always outdated when they arrive, and they are too high. For big data, this is no longer necessary. Big data enables companies to fully map the DNA of their customers. Knowing your customers well is the key to being able to sell them effectively. The real advantage of knowing your customers is that you can make suggestions or display ads based on your individual needs.

2. Create, improve and innovate your products together in real time.

Big data analytics can help organizations better understand what customers think of their products or services. By listening to what people say about a product on social media and blogs, you can provide more information than traditional questionnaires. Especially if they are measured in real time, companies can take immediate action on potential issues. You can measure not only the sentiment of a product, but also the differences between different groups of people or different geographic areas at different times.

3. Determine the level of risk your organization faces.

Determining the risks facing your business is an important aspect of your current activities. To define the risk of a potential customer or supplier, you can describe the customer in detail and place it in specific categories, each with its own level of risk. Currently, the process is often too extensive and too vague, and often places customers or suppliers in the incorrect category, and therefore receives an incorrect risk profile. Too high a risk profile does not result in lost revenue, but too low a risk profile can severely damage the organization. With Big Data, you can determine the risk category of each customer or supplier in real time based on all its past and current data.

4. Personalize your website and prices for each customer in real time.

For the past few years, companies have been using split testing and A / B testing to define the best designs for their customers in real time. With big data, this process will change forever. Many different web indicators can be analyzed continuously, in real time, or combined. This will allow companies to have a fluid system whose appearance, feel and design will change to reflect multiple influencing factors. At this exact moment, it is possible to provide each individual visitor with a website specifically tailored to their wishes and needs. Returning customers can see another website after a week or a month, depending on their personal needs during that period.

5. Improve the help desk for your customers.

With big data, you can remotely (critically) monitor the machine and check its operation. With telematics, every different part of the machine can be monitored in real time. The data is sent to the manufacturer and stored for real-time analysis. Every vibration, noise or error is automatically detected, and the technical service can be notified when the algorithm detects deviations from normal operation. When not in use, the machine can even schedule maintenance time automatically. When the engineer came to repair the machine, he knew exactly what to do because of all the information available.

6. Find new markets and new business opportunities by combining your own data with public data.

Businesses can also use big data to discover unrealized customer wishes. By performing pattern analysis and / or regression on your data, you can find the needs and needs of customers who don't know where they are. Combining multiple data sets can give existing data a whole new meaning and allow organizations to find new markets, target groups, or business opportunities that they didn't know before.

7. Get to know your competitors better, and most importantly, stay one step ahead of them.

What you can do for your organization can also be done more or less by competitors. This will help organizations better understand competition and where it is located. It can provide valuable initial benefits. M

With big data analytics, for example, algorithms can discover whether competitors have changed prices and automatically adjusted prices to stay competitive.

8. Organize your business more effectively and save money.

By analyzing all the data in your organization, you can find areas where you can improve and organize. In particular, the logistics industry can be more efficient by using new big data sources available in the supply chain. The electronic recorder on the truck will tell us where they are, how fast they are driving, where they are driving, etc. RF sensors and tags on trailers and distributions can help trucks move goods more and less efficiently, and combine road conditions, traffic and weather information with customer locations, saving a lot of time and money

Of course, these are just general-purpose use cases, they represent only a small part of the huge possibilities of big data, but it shows that the possibilities of using big data are endless. Every organization has different needs and needs a different approach to big data. Leveraging these opportunities will increase business value and help you stand out from the competition.