NEWS

Why Big Data is useful for every industry

Big Data allows businesses to gather and store large amounts of information for easy analysis. This can be useful for businesses in a myriad of industries, even ones you might not automatically think of. Big Data LDN is committed to helping business understand the benefits of big data, no matter what industry you’re in.

From agriculture to retail…
Even if you’re from the world of agriculture, for example, you can still reap the benefits of analysing and utilising big data. Big data systems allow farmers to gather information about how their machinery is managing its workload, enabling them to make important decisions about production and even aiding in making effective marketing decisions.

Retail is big business, and big data is helping to transform how shops up and down the country operate and perform, driving sales and growing businesses everywhere. Gathering and analysing information about a whole host of topics can propel a business’ sales if used correctly. For instance, knowing vital information about the upcoming weather can ensure retail stores are stocked up with the things consumers will need to face the elements – from barbecues to umbrellas. In future, clothing stores may be able to use big data to know every detail about their customers the second they walk through the door – from measurements to purchase history – offering a more tailored service for every customer.

While the public sectors is lagging behind the private sector in using big data, it can have some big benefits for education, healthcare, and non-profit organisations. The education sector faces a number of difficult challenges, but big data can enable institutions to log the progress of every student with ease. Similar systems can be used in the healthcare system, cutting waiting times and ensuring patients get the best possible care.

…Big data has universal benefits
Whilst analysis of big data can be used in different ways to help different industries, some benefits of big data are universal.
•    Cutting the risk of fraud – In any industry, fraud can be a worrying issue. Big data can cut the risk of fraud by allowing you to analyse patterns in customer behaviour.
•    Increase productivity – Running a business in any industry, you want your company to be as productive as possible. Big data allows you to analyse facts and statistics to ensure you make the best of your assets, from stock to staff.

For any company, we advocate that big data is most effective when used throughout your organisation, allowing all managers to utilise the information gathered through analysis in their day-to-day operations. To help your business in the best way possible, you must look at all data objectively and make any decisions based from this.

To learn more about how your business can utilise big data, register free for Big Data LDN at Olympia London on 3-4 November 2016. The event will host leading, global data and analytics experts, ready to arm you with the tools to deliver your most effective data-driven strategy.

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