Data Analytics - Effect on Business Landscape

January 2, 2016 8:09 pm | Updated 5 years ago.

 The advent of data analytics, coupled with high-end computing hardware has provided companies with a tool to outpace competition. It is a revolution which will change how people do business. Be it established companies or start- ups, a focused approach to capture and analyze industry data will give them an edge over their competitors.

Analytics can help organizations to optimize operations by helping them take right decisions, minimize risk and forecast accurately. It can help the management take better decisions.

Quality is the buzz word as far as data analysis is concerned. The ability to capture more data, run an in-depth analysis, and provide correct answers to questions can actually help businesses deal out solutions within minutes. Businesses can react faster to problems. Marketers can also have an upper hand by customizing services to their clientele. It also enhances efficiency in terms of cost, productivity and innovation.

As the tools to analyze big data continue to mature and change over time, companies are finding it tough to find the appropriate person in the right place to analyze data.

Source: How Big Data is changing the business landscape (Comment: Special to IANS)
IANS January 2nd, 2016