Real-time decision making a key driver of big data initiatives
As enterprises look to improve business strategies, big data analytics that draw on information from all mobile channels will be essential to better, real-time decision-making.
According to a study by New Vantage, 85 percent of companies with plans to mine big data cited improved analytics and smarter decisions as primary reasons for these initiatives. Harvard Business Review contributors Paul Barth and Randy Bean explained that speed is a key factor in the effectiveness of decisions, so realizing higher ROI from big data investments depends on analytics that are highly immediate. In order to meet big data goals, CIOs are integrating analytic systems with existing operations for more dynamic data discovery that draws on established algorithms while generating new patterns. With the support of database administration services, enterprises can build an infrastructure that enables a more intelligent model for decision-making.
New uses for big data BI
Leveraging BI analytics for better decisions has the potential to benefit a range of industries, including healthcare organizations. Healthcare IT News contributor Allen Portela reported that technologies capable of mining big data that has accumulated on a multitude of mobile devices can enable healthcare providers to better measure patient care quality for strategic improvements. Real-time patient data will revolutionize the treatment process because doctors will be able to address medical problems more quickly and informatively. However, these benefits are not possible if data sources remain separated. Portela explained that integrating systems for a unified database infrastructure is imperative to realizing analytic advantages.
XConomy agreed that connectedness is the key to big data success. The source asserted that merging big data analytics with mobile initiatives will result in more contextualized insight, and will therefore offer more actionable value. As mobile machines become increasingly connected through WiFi and Near Field Communication (NFC) technologies, the barrier between people and devices is dissipating, giving enterprises an opportunity to gain a deeper understanding of what user behavior means for the business’ future. XConomy further argues that mobile and big data initiatives will eventually result in more personalized client interactions that will have a more immediate positive impact on business growth.
Firms from retail to healthcare can gain a competitive advantage from big data analysis. By leveraging analytic technologies and remote database support, these organizations can make quicker, more accurate decisions driven by a continual influx of information and new algorithms.
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