The population of the world is increasing at an exponential rate. Transformations in consumer behavior trends and political landscapes across the globe are also witnessed every few months. This surge of change and continuous flow of data has caused businesses to stay on their toes and look for ways to make their operations and decisions better. That’s exactly what the concept of big data revolves around – the oceans of structured/unstructured and processed/unprocessed data that a business has to deal with and gain valuable insight from.
The concept has been around for many decades but gained fame in the early 2000’s when businesses finally began to realize the potential of the data at their disposal and a more coherent definition was provided by Doug Laney, who broke it into 3 Vs, namely: Volume (pointing towards the huge amount), velocity (the rapid rate at which data flows into and outside organizations), and variety (the many shapes and forms of data, including videos, images, sales records, surveys, and others). The demand for big data training and certified professionals rose significantly. However, the term “big data” encompasses so much more than mere information – it includes the technology, techniques, and all the relevant professionals who can harness the power of data and enable businesses to use it to their advantage.
In this detailed article, we will shed light on the undeniable benefits of big data and why getting your workforce trained for the related technologies and practices has become a prerequisite for the success of your business! By the end of it, you will have a better understanding of what big data has in store for you and why you should invest in training. Let’s get to it then, shall we?
The Many Benefits of Big Data Training
- Cut Down Costs Significantly
Perhaps the one business goal that can’t be TRULY achieved is reducing costs. Businesses are always looking for new and better ways to cut their losses and expand their savings. This is something that big data can help your organization with! By using certain cloud-based platforms and tools that provide analytics capabilities, you will be able to identify new and better ways to manage your data in a far better way while also harnessing the power of data to run your operations in a much more efficient manner. Hence, by investing in training today, you’d be cutting down your long-term expenses!
- Give Your Customers What They Want
The average consumer has become much more aware and wants to keep up with the ever-changing landscape of the world. Keeping up with the trends and making responsible purchasing decisions has become the trademark of a knowledgeable person. Therefore, to keep up with the changing consumer-behavior trends, businesses are turning towards big data. By extracting valuable insight from the data, you can enhance your R&D and come up with far superior products and services. Basically, you will be giving your customers what they want which will ultimately lead you towards the path of success – another reason for you to get training!
- Stay Ahead of the Competition
Apart from discovering new products and services, you can also tweak the existing ones according to your consumers’ changing preferences. The biggest benefit of big data is that it allows organizations to be aware of the contemporary market and industry trends, enabling them to take appropriate action in a timely manner and get ahead of, or at least keep up with, their competitors. By monitoring the slightest changes in the data and forecasting the sales of certain products and services, you can make safe and crucial decisions before it’s too late, something that keeps you well ahead in the game. However, the use of the right kind of technology and techniques is still important, something a few training classes on big data can help with.
- Become Better at Reputation Management
As mentioned above, the average consumer has become a lot smarter. Prior to purchasing a product or using a brand, people like to conduct deep research and their own surveys. Most people like to turn to online reviews and see the overall reputation of the brand they are considering opting for. So, what are the implications on the businesses? For starters, the need to focus on online reputation management is now greater than ever before. By utilizing the power of big data, businesses can see what consumers are saying about them and take the necessary steps to fix a blemished reputation or further improve a positive one.
From reducing costs to managing your online reputation, there is nothing big data can’t help with as far as your business is concerned. Invest in training classes today and make your tomorrow a successful one!
For more information, get in touch with us!
Exist Management LLC (ExistBI)
1800 Century Park East, 6th Floor
Los Angeles, CA 90067
Exist Business Intelligence Limited (ExistBI)
London, WC1H 9BB
Phone: +44 (0) 207 554 8568