Some tools, such as big data analysis, can lend a significant hand in promoting a business.
Many need to learn what this method is and what it can really be useful for, and that is why all these details will have to be clarified, not only to know big data analysis but also to use it concretely.
Table of Contents
What is big data analysis?
In short, a big data analytics project can be defined as one aimed at taking into consideration a large amount of data relating to a company (for example, elements related to sales, profits, but also personnel and so on), which will subsequently be contextualized and “viscerated” to be able to implement successive strategies for the promotion of a company or any other reality open to the market.
Therefore, the data referring a company to a certain market sector can be collected, analyzed, and interpreted correctly through the analytics projects that can be implemented.
Setting up a project for big data analysis
A few steps will be required to set up a project dedicated to big data.
First of all, it will be necessary to understand the objectives we want to achieve by carrying out the analysis to be able to orientate the interpretation of the data that will be taken into consideration in this direction.
Then it will be necessary to collect the data and move on to their subsequent analysis, a step that will be more complex but also much more fruitful than one might think.
The ways of big data analysis
As it has already been possible to understand, the data analysis could have different objectives, and it is indicated how, in general, it can follow some predetermined paths.
In fact, in many cases, big data analysis is used:
- For risk analysis: these can be linked to money management or to finance in general within the company itself;
- To monitor performance and security: in these cases, the focus will be on both the provision of services to customers and the security of internal and external relationships with the company itself. For example, it will be possible to consider the entire IT sector by assessing whether there are risk margins for data loss or third-party intrusion into company databases;
- To improve customer satisfaction: in these cases, reference will be made to all customer experiences in relation to the company. Furthermore, it will also be possible to analyze the entire production and offer phase of the products.
Big data analysis, the most important elements
To carry out a data analysis project that is correct and also functional, it will be essential to take into consideration what will be the most important elements on which we will have to concentrate.
In fact, big data has changed over time, and the approaches to it will also have to be different from the past. That is why in this process, some essential elements will have to be evaluated:
- The need to update the data sources: Today, we no longer refer only to what may be data coming from the internal or external relationship to the company determined by traditional sources (such as documents, surveys, and so on), but they will also have to consider new data sources, such as social networks, applications and so on;
- Data management: data will often have to be stored for a long time before it can be used, but it must be remembered that any data could become important. Therefore, each type of data can be considered and archived. Furthermore, it will always be necessary to analyze each data in its context;
- The approach to analysis: in today’s big data analysis, it will also be necessary to try to have a more scientific approach to data. Every obvious consideration will have to be overcome in order to go deeper into the meaning of the single datum, obviously always in its context;
- Collaboration: data analysis should be wider than one company sector. All those interested in the data themselves and who could enrich them with their own considerations will have to become part of the analysis itself.
Why big data analysis can help business
At this point, one might wonder why big data analytics could help build a strong and solid business.
The positive effects of this analysis could certainly be the following:
- The analysis allows to increase earnings, limiting waste, and making the company more efficient;
- Analyzing the data will also make it possible to predict market developments;
- Big data can make many management functions much more efficient;
- Thanks to data analysis, it will also be possible to improve communications between the different company departments.