How companies are using Big Data Examples and Scenarios

Big data has become a buzzword everywhere and people are figuring out how it can help them plan their success in businesses. Just knowing the technology is not enough, what matters most is to know how to apply this technology to get business results. We have already discussed in our previous article on How Satyamev Jayate by Amir Khan used Big Data, this article will cover more on how many famous companies and famous personalities are using Big Data so that you benefit from it and plan your strategy as well.

What information can you get from your customers

Frank Moss wrote in his book  The Sorcerers and Their Apprentices,

“Every time we perform a search, tweet, send an email, post a blog, comment on one, use a cell phone, shop online, update our profile on a social networking site, use a credit card, or even go to the gym, we leave behind a mountain of data, a digital footprint, that provides a treasure trove of information about our lifestyles, financial activities, health habits, social interactions, and much more.

Facebook’s big data analytics tool, can process more than 20 billion events a day. Can you see how much information is lying around for you to use to the best way possible for your business. IF you ask how can you use all this data about people’s lifestyle then here is what Consultancy McKinsey & Co. five ways that big data can create value

1. Make information transparent and usable at a far higher frequency,
2. Let organizations collect richer and more accurate performance information,
3. Allow narrower customer segmentation,
4. Dramatically improve decision-making,
5. Improve new products and services

Examples of How Big Data analytics is been used in the world

1. American President Obama is betting on Big data for his election Campaign. His app “Obama for America” connects all the people who are in favor of him and organize a neighborhood campaign for the party. Supporters can  create profile, join groups, arrange events and raise money. 2M people have signed up. If you have the app it will show you instantly the people who are in the neighborhood with their name, gender, age and address.

   Its not just that much, they even get the details of whats going on in the voters mind, which issue can influence their decision, by getting more data on much they earn, their religion, whether they are married or divorced, how many children they have, and so on. Read more here 

2. There are many small businesses using Big Data as a Service (if you remember SAAS, PAAS, & IAAS) and implementing it with very less cost to improve they business processes. Once such example is a Hotel which uses data given to it by a BdAAS (Big Data as a Service) provider from the other hotels in the nearby region and modifies the room rates, discount and offers accordingly to attract more customers. They tap real-time pricing information on other properties and make adjustments accordingly.
3. Amazon is using it not just for feedback or marketing purpose but to satisfy its customer when they come back with problems, i.e Amazon is using all this data in its customer service department to solve customer problems. Say a angry customer calls you and instead of he telling you his problem, you tell it…that will be cool right! Can you imagine the positive effect it will have on your brand, and of course customer will no more be angry. Read complete story here .
4. There are some companies using the data in certain topics like stock market, national security and competitive intelligence to automatically organize, analyze and visualize this data, and literally predict the future.

There are many many more such examples if you just start searching for them and which will give the power and control that a world of data can bring to your business.  The future winners will be surely the “Big Data Small Businesses”.