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Big data and analytics can lead to innovation

Big data and analytics can lead to innovation

The more information companies gather about their customers, the greater the opportunity these organizations have to create a higher quality experience for clients. Harnessing such data can unlock a competitive edge over enterprises that are yet to invest in the technologies and remote database support necessary to glean actionable insight from  this information. Companies are becoming increasingly confident that delving into the world of big data and analytics is a strong choice that will power stronger bottom lines.

Faith in big data
This belief in the power of big data can be seen in a variety of industries. According to a recent survey of 120 telecom operators by Informa Telecoms & Media, 58 percent of respondents said they believe that what will be driving big data ahead over the long term is its ability to help generate new business models. Over the short term, the operators polled cited the fact that these resources can assist decision-makers in solving internal problems, including improving data warehousing, inspiring greater client loyalty and enhancing customer experience management.

Considering the importance telecom companies placed on big data, it comes as little surprise that leaders are allocating an increasing portion of their budget to leveraging these resources. Informa Telecoms & Media found that big data makes up 10 percent of the average IT budget, but this figure is predicted to increase to 23 percent within five years.

"It makes sense for operators to use big data to understand the key challenges and improve the customer experience," said Julio Puschel, co-author of the research. "By using big data to optimize processes and improve quality of services, operators will already be building a platform to explore new business opportunities."

But how can firms actually put their information to use? Evolven Software revealed in a recent study that more than 81 percent of IT professionals believe analytics is key to resolving many of the challenges companies are experiencing in handling their big data

No business has to overcome these challenges alone. With the help of remote dba experts, any enterprise can approach a big data analytics initiative with confidence. Ultimately, this will result in happier customers, more streamlined operations and other organization-wide benefits.

RDX's business intelligence and big data experts assist customers in leveraging data contained in large data stores. For more information, please visit our Business Intelligence and Predictive Analytics pages or contact us.

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