Three steps for enterprises to manage Big Data through analytics

CALA Analytics outlines three steps for successfully implementing advanced analytics in enterprises.

A total of 40% of companies worldwide use Big Data analytics to gather crucial information about potential customers, enabling marketers to increase sales opportunities.

Victor Hoyos, Commercial Manager, CALA Analytics, said: “Advanced analytics in start-ups can be considered a marketing strategy in which some actions automate processes and analyze diverse data sets in real-time. It helps to understand the target audience and improve business processes, thus obtaining more accurate consumer profiles.”

According to IBM, people produce 2,500 trillion bytes of data per day which are collected, analyzed and shared by 50 billion IoT and other devices. In this way, data analysis contributes to better decision-making as a strategy in new ventures.

Examining that 69% improves the customer experience, 52% significantly reduces costs, and 47% can show an 8% increase in revenue and a 10% reduction in costs.

And that is a result of treating Big Data assertively, according to a study from the consulting firm BARC Research.

CALA Analytics describes three key steps to implement advanced analytics in business successfully:

Define objectives and identify where exactly Big Data is needed: Deciding what data is necessary depends on the blind spots that business owners need to investigate. They need to identify the key challenges they intend to overcome, the process requirements they define and how to use Big Data in terms of information, tools and hardware to enable the strategies.

Results must focus on the target audience: In addition to knowing the customer, the goal is to create a connection so that companies focus their Big Data strategies on efforts that deliver the highest possible commercial value.

Start an analytics strategy with your target audience to offer better services and experiences and thus achieve better customer retention.

Find a highly qualified team: The analytics industry is broad and detailed, so it is crucial knowing which tools to use to measure results.

Therefore, it is important to find a team with expertise in advanced analytics that will strengthen the business and commercial processes. Also, like all other IT elements in a business, detailed planning is required before execution.

Thus, data analytics in a business is now urgent and implementing it appropriately will solve many problems and even be a great marketing strategy. The truth is that the best and greatest companies continue to grow thanks to the analysis of business information.