Big Data analytics and operational strategy

The future belongs to companies that can out operate their competition. This focus on operations requires understanding the impact of the business processes, response of the customers, the changing needs of the customer base and evolving products and services to meet this demand. As the speed of innovation increases and the time to react decreases, it requires companies to understand signals that impacts the business. Understand its impact, the risk and react in real time. This phenomenon that has led to the explosion of the volume and variety of data to be processed, and also the speed at which it needs to be processed in real time. Big Data Analytics fills this need.

The benefits from leveraging data and analytics on operations are:
1. Customer Intimacy
2. New products and Services
3. Operational Efficiencies

Improving operations demands a complete view of the enterprise. Data here reflects the behavior of the system and we need to look at all data generated. This creates two needs 1.) Collect data across all the silos of operation and organization 2.) Leverage Big Data capabilities that can handle large data volumes and variety. This data needs to be made available through a strong security framework to enable the organization to make data driven decisions. This is what we call an Analytics driven organization.

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Read the source article at tech.firstpost.com