How Does Big Data Benefit The Business?

However, the great significance of “big data” in economic development does not mean that it can replace all rational thinking on social issues, and the logic of scientific development cannot be lost in massive data. The famous economist Ludwig von Mises once reminded: “As far as today is concerned, many people are busy with the unhelpful accumulation of data, so that the explanation and solution of the problem have lost their understanding of the special economic significance . “This really needs to be vigilant.

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In this rapidly developing era of intelligent hardware, an important issue that plagues application developers is how to find that delicate balance between power, coverage, transmission rate, and cost. Organizations use relevant data and analytics to help them reduce costs, increase efficiency, develop new products, make smarter business decisions, etc. For example, by combining big data and high-performance analytics, the following situations that can benefit the business may occur:

(1) Analyzing the root causes of failures, problems, and defects in a timely manner may save enterprises billions of dollars each year.

(2) Plan real-time traffic routes for thousands of express vehicles to avoid congestion.

(3) Analyze all SKUs, and set prices and clear inventory with the goal of maximizing profits.

(4) According to the buying habits of customers, push them for preferential information that he may be interested in.

(5) Quickly identify gold customers from a large number of customers.

(6) Use clickstream analysis and data mining to avoid fraud.


Post time: Jan-23-2020