Why top Fortune 500 companies use big data consulting?
What exactly is Big Data?
The quantity of data exchanged and moved between people is inconceivable, and the amount of data increases with each passing second. Managing, analyzing, making forecasts, and making choices based on that data is a difficult process. Considering that data is a crucial asset in today’s business, organizations try to grasp the newest market trends, customer perceptions, and other needs, making the ability to comprehend vast amounts of data essential.
Use Cases for Big Data
Big Data is constantly changing, and firms such as Amazon, eBay, Netflix, American Express, and Starbucks are already reaping the advantages of this new technology by using it. If you’re wondering how we may assist you in reaping the benefits of Big Data, here are some examples of our real-world work:
- Dashboard App: Big Data analytics is a kind of data analysis that does a predictive, diagnostic, and descriptive examination of your data to provide you with clear information about present and future trends in the marketplace. Creating a dashboard to provide comprehensive insight into consumer demands, the most popular and viewed items, the most searched products, current market trends (such as which product is being sold the most often), and their comments was the goal of this project. It also provided real-time information on current customer needs and preferences, allowing our customers to concentrate their efforts on developing innovative new goods and services. Their ability to stay one step ahead of their opponents will be greatly enhanced.
- Performance Understanding App: Big data consulting provides client with a Performance Insight App, which allowed them to gather comprehensive information about their employees, their performances, and their company’s current performance. This information enabled our client’s HR team to profile employees and respond quickly to policies that could improve overall workplace performance.
- System of recommendations: This software provided users with information on all of the most recent movies, as well as the ability to watch them online. Using Big Data analytics, they examine user behaviours and searches to compare them to other users’ queries, and then made suggestions about what they should watch next based on the results of their searches.
- Database Replacement: This customer had a data warehouse and desired deeper insight into the reports it produced. A solution developed by our specialist team, which included both Elasticsearch and Hadoop technologies, provided them with real-time information and insights into their services. The consulting firms provide companies with solutions that used Big Data technology rather than Data Warehousing tools, resulting in millions of dollars in savings.
Obtain Significant Benefits from Big Data Consulting – By Using a Structured Engagement Methodology
- With the help of Big Data Consulting, you may define the business objectives that you anticipate to achieve from the insights gained from ‘Big Data.’
- To begin, develop a core business use case that you can validate.
- Evaluate the viability of a commercial use case, taking into account data availability.
- Establish a clear data governance system to ensure that information privacy and security are effectively protected.
- Participants, particularly top management and users who are directly involved with the use case, should be brought together.
- Execute a proof of concept around the core business use case in order to validate the idea (PoC)
- Following the validation of the Proof of Concept, evaluate the tools/technologies used and the size of the infrastructure needed.
- Data intake from various platforms, transformation, and analysis should be handled in an organised manner.
- Keep track of the adoption and return on investment of big data systems.
In today’s world, one simple but rather true approach to think about big data is to consider how organisations are increasingly finding themselves with more fascinating data to examine than can be handled by Microsoft Excel. The use of large amounts of data will ultimately provide useful knowledge if done correctly. As a result of the development of big data, companies are able to get clever insights from information that was previously seen as inconsistent or unequal, resulting in the management of data that may be both organised and unstructured. Big data consulting concentrates on all of the crucial components such as data modelling, algorithm creation, data quality, and metadata management in order to evaluate and provide reports that are valuable to your company’s operations. They have extensive knowledge of the most recent technology and can develop cost-effective solutions for you. All of the strategic counsel you need is its first priority, and they are committed to assisting you in making the most of it.