by Darshan Thakkar – Tuesday, June 7, 2022, 4:20 PM
Choosing an appropriate technology solution is essential for organizational mangers to ensure higher performance and productivity in businesses. With technology, the overall efficiency of systems, services and products can be improved significantly. Technology allows tracking and streamlining business processes, maintaining data flow and managing employee records. The current and emerging technology considered in this case is Big Data which has been adopted by many organizations. Big Data refers to a combination of unstructured, semi structured, and structured data gathered by organizations that can be mined to get information easily.
It can be stated that the most crucial goal and potential reward of “big data initiatives” refers to the ability to examine different data sources as well as new data types, not dealing with gigantic data sets (Reynolds, 2015). This emerging technology, Big Data is essential for organizations. Businesses that use Big Data in their systems can drastically improve their operations and deliver better customer service. With the help of Big Data, organizations can develop marketing campaigns tailored to their customers’ needs and preferences.
This technology makes it easier for organizations to modify other actions focusing on the customers, which in turn can improve revenue and profit margin. For example, Amazon uses this particular technology to cater to their customers’ demands successfully. It has been found that the organisation analyses “click-stream” as well as previous purchase data from more than 250 million active customer accounts (Reynolds, 2015). With Big Data, a business can have numerous benefits or advantages. It can help in customer acquisition and retention. Organizations can easily retain their customers in this way as they can meet their demands and needs successfully. Focused and targeted promotional strategies can be introduced with this technology. With Big Data, companies can identify potential risks and optimize their overall operational costs. Due to these reasons, an organisation can get a huge competitive edge in the market by implementing Big Data.
Reynolds, G., 2015. Information technology for managers. Cengage Learning.