Big data provides new opportunities to improve customer care, unearth business insights, control operational costs, and in some cases, enable entirely new business models. By having access to larger and broader data sets, you can improve forecasts and projections for the business. A healthcare organization can conduct longitudinal analysis against years of data for patients treated with coronary attacks in order to improve care and speed time to recovery. A retailer can conduct deeper analysis on buying behavior during recessionary times if they have access to large data sets collected during the last economic downturn. Additionally, organizations across many sectors, such as communications, financial services and utilities, face significant regulatory and legal requirements for retaining and providing fast access to historical data for inquiries, audits and reporting.
Posted May 12, 2011