Big data and Analytics - The Revenue boosters!!
Date: Thursday , December 03, 2015
Headquartered in Kozhikode, Kerala Sesame Technologies Pvt. Ltd. is a wholly owned subsidiary company of Sesame Software Solutions Pvt. Ltd., a 19 year old market leader in providing IT solutions & services like Big Data, Analytics and Web Solutions to a broad spectrum of businesses worldwide.
As every market is getting highly competitive, every company is running around looking for techniques to improve their business and revenue. I think Big data & Analytics will solve this problem to a very large extend. Let\'s explore how?
Imagine what happens when competition is high. The chances for a customer to come and buy from your shop or online portal will become low. Then let\'s see what happens to two vendors selling the same item at their storefront? It\'s sure that they need to depend on their luck to get that business! So here my question to each vendor is \"What you are going to do extra, to make that sale happen for you?\" The answer for this question matters a lot and I am sure those who do this effectively will always win the sale. To prove this, we have a lot of success stories of online portals and retails chains in front of us.
In business scenario, while trying to expand our business, most of us will invest in marketing, sales process, increasing man power, increasing inventory and building new infrastructure. But the question is how many of us will really spend some quality time and money to do an analysis on our historical or present data? Here comes the importance of Analytics. Doing analytics on data will give you genuine insights about your customer, process, trends, overall business health and many more. It\'s as simple as switching-on a torch light and searching in a dark room where you can see both good and bad things in front of you, I am sure some of them will be expected by you and some others expected. That\'s the reason why we say \"data will tell you the truth and sometimes it will be unbelievable\", but still we need to believe itas it is taken from the data that we provided.
The concepts like Real time analytics, Predictive analytics and others have changed the face of business from the way we looked at it couple of years back. With the help of analytics, today experts will predict that, as a vendor what should be the product that you need to show in front of the customer at your store and also the percentage of chance that the customer will buy that product.
Why Big data?
We all know that analytics is not a new thing, but many of us were not doing analytics because we were facing difficulties in managing data properly due to its complexity, speed, size and volume. Fortunately now we have some good open source tools and techniques like big data to do analysis more easily when compared to older days. Big data concepts can do what our conventional data bases techniques was not able to do. I am sure you might have surprised after seeing the data handling ability of our leading search engines and social networking portals. Thanks to big data tools & techniques.
Is Big data & Analytics expensive?
Earlier we have seen that tools & techniques used for doing data management & analytics were very expensive and were under the monopoly of some IT giants in the industry. But now the scenario is totally changed. Any small or medium enterprise can also do analytics at affordable cost. The reason is that a lot of open source tools have been introduced which made the exercise of doing data management & analytics in a very cost effective way.
So the question is who is going to utilize Big data and Analytics effectively to increase their business revenue as well as to take good strategic decisions.