Big data is simply a collection of data that may be assessed to disclose patterns and trends. It is used by several multinational companies to filter the data and business of various companies.
Companies are taking great advantage of big data. It can benefit companies to make adequate decisions in less time and make their work more easy and profitable.
Even big data helps companies to understand their customer's needs and wants and also enables a business to engage in a real-time, one-on-one conversation with consumers.
There are several benefits of using big data:
The major role of big data in any company is to make better business decisions.
It will encourage companies to amass better market and consumer intelligence.
It can enhance internal efficiency and operations for nearly any type of business.
Modern big data analytics and operations anticipate the patterns of consumers. After that, they use those patterns to motivate brand loyalty as they can collect more data to observe more trends and also the ways to make consumers satisfied.
It helps in delivering smarter services and products.
Companies using Big Data
Amazon is a well-known e-commerce platform. They store every single piece of information related to their customer as a means of figuring out how customers are spending their money on an individual product.
All this information is being collected to use in social media advertising algorithms that can be further used to expand customer relations, recommending products, improving customer experience and services, etc.
For example, you might have noticed that if you wishlist something or add a product to your cart then it recommends some items related to your product or they show items bought together with that product.
This way, Amazon uses big data in leveraging recommendations to facilitate immediate purchases from a customer and also increase the entire shopping experience.
Big Data is moreover used to handle the prices of products to pull in more customers and yet rise the net profit.
We all know that Apple is an expert in using advanced technology. So, they are using big data technologies and now they become involved in big data analytics, with the technology driving their plenty of decisions.
The data collected by them is used by the company to consider the best approach towards consumers with its new products and services.
By using big data, Apple can find how people are using apps in real life and change future designs to fit with customer preferences.
The two major areas of use of big data by Apple are:
Keep a track of people’s health and improving lifestyle
For instance, the Apple watch is not just wearable but also has the ability of data gathering. Now, Apple watches can track what users do during the day.
Therefore, wearable devices by Apple have great potential with big data and they would want to capitalize on it.
Google uses big data to understand what we want from it based on several parameters such as search history, locations, trends, and many more.
After that, it goes through an algorithm where complex estimations are done and afterward Google easily shows the arranged or positioned indexed lists as far as significance and authority intended to coordinate the users prerequisite.
Google easily shows the ranked search results in terms of relevance and authority formulated to match the user’s requirement.
Google has acquired some techniques to understand user’s requirements like Indexed pages, real-time feeds, sorting tools, knowledge graph pages, literal and semantic search, google translate, etc.
Spotify is a company that has genuinely accepted Big Data. They use numerous inventive data techniques to reform how we listen and enjoy music.
This company has lots of users and it is fully a data-driven company.
They use intel about components like songs' playtime, where they are being streamed, what sort of device is being used for streaming, and when they are being played.
Thus, all that data is providing the music-tech industry with wonderful insights to affect listeners' experience.
Spotify has also launched Spotify for Artists, which gives artists and their administration access to data so they can improve their promotion and entity.
Also, Spotify is using big data for its "fans first" ambition. This permits artists to give their most devoted fans admittance to particular offers on show passes, singles, and many more.
Simply, Spotify uses big data for digitizing the taste of users, developing personalized content, for enhanced marketing through targeted ads, Spotify wrapped, and so on.
You have noticed how Facebook reminds us of birthdays, friendship anniversaries, but do you ever realize how Facebook does that?
This work is done by big data and Facebook uses big data to enhance the experience of their users.
With the help of big data, Facebook creates a short video that contains our old pictures as a memory.
Data plays a very vital role for Facebook as they create flashbacks based on data collected.
Image recognition is one of the big data technologies adopted by Facebook. It is a technology that advises devices on how to observe the details in a particular picture or video just by directing it through several other images.
Thus, Facebook assesses every single piece of data and gives you better services each time you log in.
In 2015, when the US Supreme Court announced same-sex marriages legal, at that time Facebook had brought up a rainbow filter tool. This filter indicates that you are supporting marriage equality.
Instagram assures that it uses the big data it develops completely to its benefit by taking out and evaluating the customer insights it gains from it.
Whenever we scroll our feed on Instagram next time we see the same type of things. This is the work of big data which collects our information and recommends us accordingly.
Mainly, Instagram uses big data for crisis management. For example, the Ebola crisis.
Big data helps in tracking the likes, followers, new users which helps in improving the growth of the company.
Instagram is one of the well-known companies that use AI and big data in a very useful manner.
Starbucks is an international brand that is famous for its best coffee. Hence, it is not possible to manage this much data by any individual. So, here comes the role of big data.
Big data collects all the information of the customer when they use a mobile app or order anything. According to the data collected, they show the recommended items.
The company also uses big data to adjust its menu according to the customer's preferences.
They also use this information to create more appropriate marketing campaigns and promotions, choose locations for new stores, and even decide future menu updates.
Netflix has millions of subscribers and it is very difficult to handle all the data. Hence, big data helps in collecting all the data of the users and recommend movies according to their past searches.
According to Netflix, most of the viewer's activity is based on personalized suggestions.
Even it compiles numerous data points to build an accurate profile on its subscribers.
For instance, Netflix takes screenshots of the scenes most watched or might have played repeatedly to know the customer's preferences.
They also use its big data and analytics tools to choose if they prefer to greenlight original content or not.
Therefore, Netflix’s skill to collect and use the data is the explanation behind its achievement.
Big data is like a heart for American Express’s decision-making. Their main goal is to detect fraudulent transactions as soon as possible for reducing loss and in this big data plays a vital role. They use big data for anticipating and analyzing customers' behavior. By looking at recorded transactions and incorporating more than a hundred variables, the company assigns modern predictive models instead of customary business knowledge based on knowing the past reporting.Using big data algorithms for fraud prevention has now become commonplace in the industry.
( Also read: Top 10 Big Data Analytics Tools )
McDonald’s is the world's famous fast-food joint that is adopting modern technology in many ways which include using big data and AI.
McDonald's has developed into a more information-centric company that is naturally driven by data-based decisions.
They use big data to enhance their customers' experience. When anyone uses their mobile app or orders anything they store their data for further recommendations, offers and promotions.
It also collects in-store traffic, customer interactions, ordering patterns, point-of-sale data, video data, and sensor data.
Through drive-thru, they can even know at what time customers are more likely to go and this will help them to prepare and improve efficiency for the spike in demand ahead of time.
By continuously tracking and analyzing the customer's behavior, they can use this information to make further changes to the menu.
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