Volume

When organizations collect information over the years, it makes an extremely huge volume of data. Such huge volume a of data may be generated from user information, application-generated audit information, and any unstructured information from the online sources. Analytic tools help in choosing the right set of data to perform the analysis and in recognizing the important metrics, which are appropriate to the perspective you may want to review from that information.

From the organization's perspective, a huge volume of information can be segregated into the following types of information:

  • Business identification data: Each organization performs certain business activities. The stakeholders carry a unique identification based on the set of fields attributed to them such as a social security number. Collecting such identification information over time and performing big data analytics on it helps in improving the business and targeted customer stake. Additionally, organizations can start reinforcing the marketing efforts to pursue profitable strategies.
  • Descriptive data of unique business identifiers: The descriptive data of business identifiers includes demographic information such as age, gender, education, profession, and whereabouts. Some of the information may not be maintained in an organization's data store, but can be captured through social media. Such information can be used to promote business and operations tailored to the business needs.
  • Quantitative data about customer engagement: By reviewing the customer's interest in business and by analyzing information about their previous engagements, prospects can be made for the group of customers. This helps in offering the right set of products to such customers, which changes the way your organization markets its products and reaches the right customers with the right product.
  • Qualitative data: By performing the right set of analytics, qualitative data such as customer investments and reviews can be extracted in organizations that helps in taking strategic decisions in the business motivations. This information can be extracted from communications, feedback, and other support engagements.
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