Almost all organizations are collecting data, but most fail to utilize the data collected to drive business growth fully.
Data without analysis and processing is not useful. Companies haven’t developed a strategy or invested in talents or platforms to tap into the new raw material from the current data technology era.
Fuel Your Business Growth with Big Data Technology
Orion, a routing software from UPS, brings in the analytics advantage by helping the company save costs. Orion can analyze 250 address points a day and performs 30,000 route optimizations per minute. The cost-savings are significant. The company attains a total savings of $300 – $400 million annually. (Source: Prisco, 2017)
The travel and hospitality industries use dynamic pricing strategies powered by big data analytics and artificial intelligence to increase their revenue by up to 5% per room. Dynamic pricing mechanisms optimize sales conversion by studying factors that influence purchase decisions such as the local and global economic situations, weather, availability, reservation behavior, cancellations, customer profiles, and many others.
In the entertainment industry, Netflix uses big data analytics and machine learning to learn, analyze, craft, and personalize content for each individual in scale. The system tracks every action a user takes, then groups and segments their behaviors based on their preferences. Users receive video recommendations that keep them hooked. Netflix has a very high user retention rate (as high as 93%) thanks to its underlying big data analytics-powered system.
Those Who Rule Data, Rule the World
Organizations that adopt smart technologies can implement a data-driven leadership and culture, and along with a strong talent pipeline, will lead the race for an AI-powered economy.
We have prepared a presentation that illustrates:
- How Fortune 1000 Companies make use of big data
- How data-driven organizations like Walmart, Airbus, and TikTok use data science, analytics, and artificial intelligence to grow their businesses
- How companies revamp and include big data analytics offerings to drive business revenue by capitalizing on the new “gold”.
- The key benefits of becoming a data-driven organization
- Identify your organization’s data maturity level and develop a data-driven organization strategy based on The Center of Applied Data Science (CADS) ’s data maturity roadmap
The future is clear. No one can escape the revolution brought by technological advancement. Everyone in business will need to start their data journey; begin now before it’s too late.