Big Data

BIG DATA

Big Data are a large amounts of data, numbers and statistics to be stored, managed and analyzed. “Data” mean text, images, video, audio and calculation elements. In order to exploit this enormous mass of data, forms of reading, calculation and interpretation have been developed which are superior than human ones. The sectors most attentive to big data are: banks, insurance, social media, manufacturing sector, large-scale trade and retail, PA and health.

For example, in a large company, the use of big data could turn into:

  • Mapping, organization and verification of company data flows;
  • Study and analysis of data value for each business area;
  • Ability to analyse the customer experience based on customer data;
  • Ability to develop forms of interaction between the various corporate business areas in order to identify and create new opportunities for tactical (cross selling) and strategic (new products) development;
  • Ability to analyse data related to customers according to the development of new services or new products (“customer listening” is increasingly significant, by using social media to help companies to extend and deepen their customer knowledge, clients’ segmentation and behaviours);
  • Ability for the company to react quickly to market and society changes.
Utilizzo Big Data

Applications of big data analytics in management activities

The big data technology is of fundamental importance for those entrepreneurs who want to face it, to improve the corporate organization, develop solutions and actions that may bring to cost reduction, to a better knowledge of the customers and to develop new products and services.

One of the main applications of big data analysis is marketing. Generally, the attention is focused on managing customer relationships and on customer experience.