Successful Digital Businesses Need Big Data |Big Data
Summary
Big Data is fueling digital transformation across industries, enabling unified interactions among consumers, organizations, and employees. A study by Accenture reveals that a significant majority of organizations worldwide have implemented Big Data initiatives. It plays a pivotal role in unlocking digital channels, improving customer experiences, and enhancing marketing strategies. By integrating Big Data into digital businesses, organizations are becoming more competitive and adapting traditional models to the digital landscape. Embracing Big Data as a core component is crucial for organizations aiming to succeed in the ever-evolving digital economy.
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With mobile, cloud, analytics, and social media changes providing opportunities like never before, consumers, organisations, and employees, are now interacting in more unified ways with each other. For example, governments and businesses are creating new customer experiences, improving upon citizen services, reducing costs, delivering better patient outcomes, increasing the productivity of their staff...all through digital transformation, courtesy of big data!
Yes, as per the results of a recent study by Accenture on big data, over two-thirds of organizations worldwide are now credited with big data implementations (Here's the perfect parcel of information to learn data science). If that’s not commendable, what is?
Digital Transformation Driven by Big Data
As we take a closer look at how big data is enabling digital businesses to succeed, we come across two key points. These are:
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Big Data has immense potential of unlocking digital customers as well as new marketing channels;
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It is completely essential for running digital enterprises.
Take a look.
Unlocking digital channels, customers and markets
One of the most important catalysts for digital business change is obviously the customer. With high expectations, desire for personalized services, and wanting the best of everything—experience, price , quality, offers, etc.—customers are the major force behind successful organizational deliveries. Big data driven solutions are organisations learn more about customer’s demands, the lingering context behind their wants, and ways of shaping richer experiences for their targeted prospects. To attain all this and more, data-driven insights are feeding mobility, recommendations, special offers and location-based services to all customers (also consider checking out this career guide for data science jobs).
Running digital enterprises with flair
Most market watchers are of the view that big data technologies are helping businesses remain more competitive in the existing digital economy. The robust interlocking features between big data and digital transformation are now driving transformations to traditional business models as well. Actually, the deeper a company is wading into the digital waters via data-driven services, the more it is taking command of the benefits of big data. With advanced digitization in the offing for most data-driven companies, services and processes are now expected to create new data that will require continuous analysis for improving and staying competitive. Soon, these businesses will be absorbed by larger-sized digital ecosystems, with immense scope for data multiplication, exchanges, conveys, and processes—and will surely benefit from the same.
Digital businesses scaling from data-centric to big data-driven
As big data technologies and new data sources are appearing under the limelight, there are newer steps being formulated to scale from data to big data digital transformation. By beginning in a small way and being flexible to changes, companies are getting their big data projects underway, They are building the skills required the transformations in technology, tools and techniques alike, and are also resorting to outsourcing for building skills with employee-based training and getting aid for big data project implementations. In all this, digital businesses are being effectively supported by their leadership. This scaling is possible through organization wide collaborative efforts where all silos are eliminated for unified digital vision and data to flow freely (also consider checking out this perfect parcel of information for a data science degree).
Way Forward with Digital Business Transformation with Big Data
During digital transformation, it’s inevitable that organizations will come across some "too hard problems– such as new service development or customer loyalty – and they will require big data to transform these issues into the form of challenges that can possibly be overcome. So, once a government or company makes the decision to go digital and big data’s way, they need to put in their optimum resources to deliver effective results.
Are you ready to adopt Big Data as the nerve center of your business?
