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04 July 2022

Big Data: Solving Complex Business Problems

Big data is a fascinating topic of discussion in the current digital era. Utilizing the internet and digital applications generates data advantageous to the organization and its customers. The ability of big data to collect analytics has a tremendous impact on business. Yet, few businesses recognize the significance of big data. What constitutes Big Data? What benefits does big data offer businesses? Let’s discuss it.

What is Big Data?

In some cases, big data is frequently represented by several Vs. Including volume, variety, velocity, variability, and veracity. The 5Vs describe the complexity and difficulty of data collection, storage, management, and analysis. This positions big data to generate business-relevant value. Big data encompasses any data set that is so large or complex that it is difficult to process using conventional data processing software. Big data therefore requires big data analytics. Large businesses that constantly strive to outperform their rivals are generally familiar with the use of big data and analytics. This will reveal improved business prospects.

Big Data Solving Complex Business Challenges

The combination of big data with AI (Artificial Intelligence) and machine learning will be able to solve some complex business challenges. Among them is Customer Experience, which facilitates the discovery of competitive advantages by emphasizing customers and optimizing the customer journey. Financial Transformation, which, through financial data and accounting processes, will provide the company with value and new strategic inputs. Using big data, Product Innovation will be able to recreate a product that is safer, more appealing to customers, and more profitable for businesses. Risk Mitigation can reduce exposure to financial fraud and cyber security risks. Asset Optimization optimizes asset value through IoT and data sensors and provides Excellence in the field of Operations by utilizing personnel, equipment, and other resources to achieve the best performances.

Build Your Big Data Usage With PhinCon

Big Data is complex, so its use and acquisition must be meticulously designed and organized. PhinCon is an IT consulting company that has served businesses in various industries for over 12 years. Using Big Data, PhinCon will assist your company in resolving complex business challenges. Big Data will be utilized for the company’s needs, problems, and industry opportunities. The expert team at PhinCon will also assist with the design and construction of data and analytics solutions to produce a comprehensive and timely blueprint architecture for long-term success. In addition to offering comprehensive consulting services to support your company’s critical data platforms and applications, PhinCon also assists you in assembling your team of corporate experts. PhinCon, a subsidiary of Phintraco Group, is prepared to assist you in leveraging Big Data for the success of your business.

 

For more information about big data, please get in touch with our team of experts at [email protected].

 

Reference:

https://www.teradata.com/Glossary/What-is-Big-Data

 

Related Article:

5 Major Big Data Challenges and Ways to Solve Them

 

Baca Juga:

Big Data: Pecahkan Masalah Bisnis yang Kompleks

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