Big Data – Application brings great benefits to businesses

With the vast amount of data that 4.0 technologies bring, manufacturers have plenty of room to improve their business operations. However, the selection and processing of necessary information is a problem. To solve this problem, Big Data application was created as a complete solution for businesses that intend to participate in the race named Industry 4.0.

Big Data is the term for large and complex data sets, traditional software can not process and collect information in a certain period of time. However, the large amount of data is not the main issue, it is important that it has the ability to guide and help businesses. It can be said that these huge data blocks can solve business problems that cannot be handled at the enterprise.

So, what are the benefits of Big Data?

Define customer goals

The biggest benefit of this huge data set is identifying and targeting the right set of potential customers. With the ability to search and transmit information, Big Data will help businesses learn about user preferences and behaviors. Business businesses can expand their data sets with social media data; The use of data by telecom companies can quickly “read” and understand consumers’ consumption trends. For example, Wal-Mart, thanks to Big Data, strategic managers can know which products bring high revenue, which products do not bring revenue. Therefore, understanding the term “Big Data” will help businesses easily reach their goals.

Reduce risks and information security

The second biggest benefit that Big Data brings is the ability to prevent attacks on the network. Businesses and large corporations today apply Big Data systems to minimize risks and improve security problems caused by external environment. For example, credit groups will quickly eliminate fraudulent transactions such as black credit thanks to the transmission of this huge data system.

Price optimization

An indispensable benefit that Big Data brings to businesses is the participation in the process of pricing services and products. Businesses that want to do business successfully need to understand consumer tastes, research competitors as well as industry trends. However, this research takes a lot of time, effort and even gray matter of humans, so the Big Data system was born to reduce the burden on businesses.

Capturing financial transactions

The last but not least benefit is that Big Data quickly captures financial transactions. Most of the stock transactions today are done through data algorithms that come from social media network signals. Financial and e-commerce companies need to know about this benefit.

In summary, in Industry 4.0, the strong development of the Internet of Things (IoT), Artificial Intelligence (AI) and Big Data and the integrated software system have created an era of data explosion. Information materials and digital technologies.

Productivity and Quality Office