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Tag: big data analytics courses

How Analytics Can Help You Prevent Customer Problems Before They Arise?

Posted on by Imarticus Learning

How Analytics Can Help You Prevent Customer Problems Before They Arise?

It has been proven time and again that establishing customer loyalty is a necessity for companies these days for the simple reason that it needs one-seventh of the resources needed to acquire a new customer. Although the agenda is clear, it’s not that easy these days. With an abundance of choices among consumers in today’s markets, it has become really hard to stop them from switching to a competitor and maintaining loyalty to your company.
Foreseeing a difficult situation before it arises is imperative for any business to get successful and with such an abundance of data in the modern age, organizations can work to address problems and minimize customer problems even before most of them arise. Data analytics, more importantly, Predictive Data Analytics helps companies do that.
A major industry where this can be seen in abundance is the mobile retail industry where the majority of those who come for mobile replacement claim the device is not working properly, while mostly they don’t always know how to use it properly.
Preparing for the unseen
Many people say that you can’t count the number of chicks before hatching, well Predictive Data Analytics can do it for you.
Predictive Data Analytics can be used to predict customer behaviour by utilizing the purchasing and visiting patterns. With modern technology so advanced businesses can use the data prediction tools to get an advanced idea of buyer demographics and plan out their orders and strategies accordingly. A major industrial example of the same is Price Optimizer Software. Companies these days use price optimizer software to determine how consumers will respond to a particular price for their product.
Three of the data predicting models have been mentioned here, these are:-
Data from Visiting
Collecting data on parameters such as the number of visits on the sites, duration of these visits, locations visited and duration since the last visit, businesses can accurately predict the purchasing patterns of a customer concerning the future visits and purchases. This important data gives these businesses an edge which allows them to classify and plan accordingly so that they can ensure regular visits as well as the loyalty of customers.
Predicting the Particulars
Predictive Analytics can also make available the location as well as online as well as offline data to the retail marketers and armed with knowing who the buyers are and by analyzing their website and shop visits retail marketers can successfully predict the buyer’s visit with accuracy up to a really small timeframe.
Certainty Establishment
Retailers can use Predictive Data Analytics to personalize the services provided to an individual or group. A business must have proper marketing techniques and strategies which cover every group and individual alike. With regards to the purchasing decisions, there are many traits to a customer’s overall behavior and when these traits are separated and smartly implemented by companies and businesses, they’ll be becoming better in identifying and segmenting different customers according to the wants and needs.
Conclusion
Several companies these days are trying to leverage the power of Predictive Data Analytics to outgrow their bottom lines and grow their businesses while effectively combating problems before they even arise. With excellent data analysts at their disposal, these companies can effectively predict customer behaviour and get better in predicting customer problems.

Imarticus Learning is adamant about providing the data science enthusiasts with an opportunity to grow their skills in data analytics and benefit from the ever-increasing need of ever-increasing data analysts. The Data Analytics PG course available at Imarticus Learning can be useful for both companies as well as employees to get their data science skills up to date and benefit.

Is Big Data The Key To Curing The NHS?

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Is Big Data The Key To Curing The NHS?

The essential and key aspect of every developed nation-state is access to better healthcare facilities. In a dwindling mass of third-world countries, we often find that poor healthcare affects the economic resources that remain untapped for a long. The National Healthcare system developed in the United Kingdom in the aftermath of World War 2 was the most progressive decision undertaken by the state and sovereignty for its citizens and that protects them till today.

This healthcare system can also be accessed by international citizens who stay in these places for a short period of time owing to various reasons. Since its establishment in the early 1950s, it has facilitated an increase in the life expectancy of people. However, handling such large amounts of patient records can be extremely gruesome and challenging especially with the late detection of many diseases the NHS has of late been suffering from a series of major losses. It can, however, be avoided with the emerging technological renovations happening all over the space, especially with the emergence of Big Data.

Big data training helps in involving and combining unstructured databases with a structured database and helps in providing the best solutions to the data barriers with its system of integrating, transforming and empowering the services.

The benefits of big data are clear, and it has become much easier for organizations to collect and store this level of data from their customers and stakeholders. The challenge is to convert that data into information that can help improve operations. For the NHS, its test run operations in Scotland have helped in not just collecting data but also implementing the analysis techniques to understand the warning signs of various new diseases. This targeted intervention can help the NHS from not just run into deficits but also save many more lives.

However, this intervention has to be systematically curated and the needs of the organization addressed effectively to overcome the barriers that exist in the implementation of data analytics. These businesses provide solutions in the market that can cater to almost all niche business operations and ensure that the products and services provided by them are catered effectively.

The predictive data analytics helps in providing a potential light on the patient flow and hospital demands and allows the NHS to make informed decision-making. It helps in allocating the NHS appropriate resources and improving its time efficiencies.

But there also exists a barrier to the implementation process. The big data analysis is seamless but requires huge investment, especially in cases of NHS where a large amount of information has to be provided and the IT infrastructure and data have to be organized to ensure the flow within the business.

Therefore, utilizing this big data across the organization needs to be balanced with an effective training process for the staff to work with these technological assessments. This data also has to be regulated and protected to avoid any mishappenings. It will require initially huge financial investments and operational changes and trained staff to handle the situation at times of crisis.

Therefore, what we have to look at now is whether this system is effective and can it really change the dynamics of healthcare in its absoluteness. Arguably we could say that the investment process is too difficult considering the present scenario of the market systems and the long-term potential to drive down costs across the NHS. However, in today’s world, technological means have the potential to save a company from going into bad daylight and bring about a revolution in the system process and ensure that the healthcare system can become really effective in the long run.

What Are The Tips To Prepare For a Hadoop Interview?

Posted on by Team Imarticus

The popularity of big data has been growing at an immense rate opening the doorway to a spectrum of jobs that require skilled professionals. Noteworthy among these is the job of a Hadoop developer; challenging, technical and well paid, Hadoop is known to be one of the best segmentation of big data and analysis and a developing platform for candidates interested in a career in data science.
Learn Hadoop to pursue a career as a Hadoop analyst, Hadoop developer, or a Hadoop Architect, Hadoop tester among other job roles on the Hadoop platform. If you are looking for a career in this domain, it is highly essential to understand that a Hadoop developer not just created codes in programming but is also expected to have an expertise of multitasking while as his job, which includes programming in Java, writing scripts, reviewing log files, scheduling jobs across clusters on Hadoop amongst others.
Basic skill set for a Hadoop interview
Hadoop works with a number of other software like Ambari, HBase, Hive, Pig and more, therefore, knowledge of technologies is essential. While it is important to also have an idea about other visualization and ETL tools, SQL, gateway and edge nodes, basic cloud computing, some of the must-have skills an interviewee needs to possess during Hadoop training include JAVA, Hadoop Framework, Pig, HDFS, MapReduce, and Floop.
Tips to prepare for a Hadoop interview
Cracking a successful Hadoop interview does not essentially mean having specified skillsets but also ensuring that all of the interviewee’s questions are addressed. While Hadoop in big data is a relatively new concept, here are a couple of tips to help you prepare better for an upcoming Hadoop interview.
Knowledge of Programming Languages
Java experience is as important as it can since Hadoop is a software-based on Java. If your career path monitors progress from C++ to Java, nothing like it. Knowledge of other programming languages like OOAD, JS, Node.js, and HDFS only add to your skillset and make your resume stand out from the rest of the candidates.
Big Data experience
If you have experience working with big data, a Hadoop interview would be fairly easy to crack, since Hadoop is mostly built for the working of big data.
Technical Expertise
To crack a Hadoop interview, you not just need hard skills for Hadoop but also various other technologies that include Flume, Sqoop, Hive, Pig and more. These technologies often seem smaller, however, they make data processing easier on Hadoop.
Interview domains that are essential to prepare for
Along with a good grasp of relevant skill sets, listed below a couple of interview domains every interviewee needs to prepare for-
Practical experience
Theoretical knowledge is important, however, most interviewees are tested on practical knowledge. Expertise in the practical field subjects candidates to various degrees of exposure otherwise impossible by merely learning theories.
Communication Skills
Hadoop experts have to communicate with people in various other job roles, that often include engineers, analysts or even architects. In cases like these, good communication goes a long way.
Knowledge of domain
The interviewee is expected to know the A-Z of Hadoop along with its basic functionalities. You may be expected to back your interview answers with sufficient theoretical or analytical examples.
Conclusion
Big data is growing at an immense rate and more professionals are getting enthusiastic to work in the field. An extensive Hadoop training can go a long way in helping a big data enthusiast to master the best skills in the market and make it big as a professional.
For more such information, feel free to visit – Imarticus Learning

How Big Data Is Changing The Way Marketing Teams Strategies?

Posted on by Imarticus Learning

Big data in today’s world
Big data is transforming the way how the world thinks. Corporations have an appetite for data and they churn out almost everything from it be it vital or useless information, segregate the analysis on different parameters and draw out multiple conclusions. Today, we live in a data-driven world where everything from schools to offices, amusement parks to movie theatres runs, etc. runs on data.  Big data has become a very prominent turning point in the history of the world economy, therefore, knitting the world together faster and better.
Importance of marketing
Any company can produce a product or plan out to provide a specific service. The challenge is to take that product or service to millions of people who will then buy those products or avail those services, thus helping the companies to fulfill their ultimate objectives. In such a situation, Marketing comes into play. Marketing is a set of activities which are brought together to increase the mass reach of any company and its offerings. With everything shifting to an electronically operated platform, there is a strong gap that is constantly being filled with online marketing. Businesses are promoted online using multiple online channels such as search, videos, emails, ad campaigns, etc.
Big data and marketing
With the movement of the marketing function to a digital platform, its dependency on big data has become inevitable. Marketing teams of various companies analyze the trends prevalent in marketing using consumer data and come out with various new marketing campaigns to fill these gaps thus helping the businesses to meet and beat their targets. Companies are increasingly spending on mobile advertisements thus catering to a huge audience in a short period. These ads are individual-specific as Big Data Analytics Courses use the residing cookies in your system and display only those products and services which garner the attention of that particular individual.
Marketing and big data: a perfect blend
The advent of big data capturing the market, it has affected the marketing function drastically. It has made Marketing an interactive as well as a very insightful process. Marketers use tools like Google Analytics to know how their websites are performing and how many eyeballs their particular products are turning. Then accordingly they work on the marketing strategies of those range of products and services which are not performing well and also on those avenues which are outperforming to further increase revenues from them.
People spend long hours online thus making online marketing the only resort to reach the audience of this era. People are increasingly responding to online marketing campaigns thus bringing in more and more personal information into the picture. Big data helps in transforming these inputs into final sales and thus converting the desires of people into the business. The data collected in the online platforms will be the deciding factor for your marketing campaign’s success. Businesses will have no clue what’s going wrong in the absence of data.
Digital marketing and big data together have helped in improving the users’ product viewing experience. Marketing teams are constantly looking for new opportunities. Big data provides to be an effective tool in doing so. Also, it gives insights on when a company should pull the plug if something is working against its success. Using big data, every action can be tracked.
By reviewing data analytics, companies can find out how users perceive their business and its products. Using tracking codes, a lot of data can be collected and then segmented into various sections. Data can give minute details such as which ads are making the most revenues, which ads need improvements and which ads are working negatively. Also, companies need a record of conversions i.e. how many ad views are resulting in final purchases.
Conclusion
Big data is playing a major role in formulating marketing strategies. Data provides valuable insights that are further analyzed and developed into a strategy map on how the marketing function has to be taken up. Establishing concrete goals and measuring the fulfilment of such goals has become much easier with the use of big data.
For more details, you can also search for – Imarticus Learning and can drop your query by contacting through the Live Chat Support system or can even visit one of our training centers based in – Mumbai, Thane, Pune, Chennai, Bangalore, Hyderabad, Delhi and Gurgaon.

How Big Data Fits In With The E-Commerce Customer Engagement?

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Briefing the Big Data

If you are reading this wearing the glasses you ordered online, chances are that big data has some role to play in your purchase. If you are unfamiliar with the concept of big data reading the following piece of content here is going to add a whole lot to your knowledge base.

Big data can be understood as a big pile of the database that is amassed over time from various sources called data points, the big data helps in the identification of patterns, trends, and aid in providing useful insights for businesses and other parties in possession of the data. It is generally valued by big corporations to target their customers with ease.

The Virtual Customer

Big data is the norm today no matter what industry are you in, Big Data Training is the ultimate solution in the age of digital data and global consumers. Sales is a smooth sail in the digital ocean, courtesy of the big data!

The digital world has a new way of marketing things, different from traditional means of marketing the online and digital marketing expenditure has different components to it in terms of cost for content and creatives to lure in the targeted customer.

So how do you quantify and asses the performance of your marketing expenditure in the digital world? Well to address this query we have to dive deep in the concept of customer engagement in the dot com world. So customer engagement here unlike the traditional methods of marketing is counted through likes and comments and online traffics on the website.

Among the countless boons of technology, the one counted among the giants is enhanced globalization and making the concept of the world as a global village come to life. This has helped a lot of organizations to increase its customer base globally.

Talking about the businesses whose sole existence is credited to the merits of technology, e-commerce has a lot to be thankful for. Anyone who can connect to the World Wide Web could be a prospective customer.

To determine if you can target the one visiting the world wide web to come to visit your store needs a lot of insight about the visitor’s taste and preference his past track record of purchasing a product and the general trend of things, this is where the big data fits into the picture.

Big data boosting Ecommerce

What has been observed today is that customers are missing the human touch which can be understood in a sense as a personal attention deficit that the traditional brick and motor stores provide to a great extent. In the cutthroat landscape of eCommerce, you can’t just go with one size fits all approach, you have to style your market in a customized fashion making it more personalized for people visiting your E-stores.

Today the customer’s willingness to pay is not just limited to providing quality products, in the contemporary the game has changed altogether, people see everything as an experience, the better you polish that aspect of the business the more probability there is to gain a fair share in the market and retrain the customers.

Big data has amassed the data about all the variables that could possibly affect a buying decision. From personalized gifts to customized loyalty programs it delivers upon all the aspects of personalization that will generate new customers and will help retain the existing ones into the customer list.

Research has also shown that those who are using big data tools for their e-commerce business are likely to be more productive and efficient in their functioning. Big data not only delivers for the sellers on e-commerce but it’s also a magnificent time-saving tool for the customers as it helps them in a lot of aspects, from finding the right product to choosing the best fit.

Selling online is a different story, the big data pumps your marketing by only targeting those who matter based on the past records of purchase and preferences, and this naturally increases the conversion rates and the return on the marketing expenditure.

Conclusion

Big data is a game-changer for the e-commerce business segment given the presence and deep penetration of the digital world. Personalization of products and other customized services is enhanced to a huge extent with the application of big data.

How To Improve Your Supply Chain With Data Visualization Techniques?

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Simplifying Supply Chain Management

If you have ever ordered a tangible good and got it within the stipulated time it’s because of a good supply chain management process in place by the company you ordered from. Supply chain management entails how a product is transferred from point A to point B, where point A is the place of storage and point B is the customer’s delivery address.

Supply chain management starts from the grassroots level, from sourcing raw materials needed for production to delivering it to the end consumer it covers every aspect of the product movement. The people working to manage the supply chain process have to carefully monitor the entire flow of goods and have to devise a strategy to help propel efficiency and productivity in the process.

The process has in its purview various sub-segments like sourcing, demand planning, inventory management, and logistics, the aim is to make the process smoother by individually focusing and renovating outdated methods of sourcing and distributing products to the end consumer.

The benefits of supply chain management range from increasing efficiency, cost minimization, and profit maximization to better demand planning.

All your e-commerce shopping expeditions are made possible because there is a supply chain process working 24 * 7 to facilitate your shopping spree.

What are data Visualization techniques?

With the advent of big data and the demand to present it to probable beneficiaries, the importance of presentation and formatting of data is utmost. It helps to weed out the unrequired information and highlight the ones that help the end-user to gain better insights.

The end goal of providing any data to the user is to allow them to gain valuable insights and take action using the same. Data visualization training deals with how to present the data in an attractive format to grab the user’s attention in a jiffy and help them to implement changes through the knowledge obtained.

Data digestion is important for the end-user to act upon the information, with so much information available on the World Wide Web, obtaining useful data can be tiresome and lethargic. The challenge for the data developers is to make it catchy for the eyeballs.

According to psychologist data visualization techniques help the user to learn better, photographic memories tend to last longer than plain texts.

Externalities like bad weather or accidents have a major impact on the timings of delivery and transportation of goods. To take into account such external factors the data visualization techniques help in mapping the geography and its indigenous externalities based on past records that might influence the transportation and shipment process.

Data visualization techniques for SCM improvement

Data visualization techniques help to improve and renovate the supply chain dynamics on a macro scale of things. Supply chain management has various components, from demand planning to doorstep delivery, everything can be perfected with data insights.

Let’s understand how data visualization improves supply chain management. So if we trace back to the core of the supply chain it all breaks down to identifying the perfect routes. Data visualization techniques can help to identify and demonstrate the details of the route and the alternatives present transport a product from point A to point B.

Plotting the complex relationship between various data points related to supply chain management through network charts and flow charts the pictorial representations enriches the content of the data.

Now the data regarding the routes might include the distance covered, time taken, traffic congestions, road construct, etc. So for identifying the perfect route, you have to factor in for all these elements and then reach a conclusion. How tiresome will be to dive deep into the subject matter? There come to visualization techniques that will help to put out the information in a precise manner catering to the needs of the user.

According to various research related to data visualization, it was found that companies are spending more on the use of immersive visual ecosystems to better their data visualization for the supply chain management. The benefits of the same have been reaped in the form of better inventory management and improved performance.

Conclusion

The implications of data visualization techniques in the field of supply chain management are enormous. From reducing time to analyze complex data to making more informative changes in a complex variable scenario the data visualization technique has changed the supply chain management landscape drastically. Improving the duration of transportation and delivery of products based on data insights factoring in various elements that might affect the situation.

What Are The Analytics Apps To Reduce Operational Costs At Production Facilities?

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What Are The Analytics Apps To Reduce Operational Costs At Production Facilities?

Introduction

Digitization has taken over the world with a storm. With numerous benefits, it has proved to be a boon for all sectors in which data is involved. Data analytics is shaping the world in which businesses are evolving. It makes data much more than stored figures. It brings out various trends and patterns of different segments of society. Data analytics courses can help businesses increase their revenues in multiples, optimize costs, Improve efficiencies, make cumbersome business processes much more simple and also using data in ways one could have never imagined.

Applications serving the purpose

Mobile applications have increased the use of data analytics. People use their mobile phones all the time thus making it easy for businesses to acquire a lot of individual-specific data daily. The app-space is huge and is coming up with innovations every second. Not a single area has remained untouched with this huge growth. From Real Estate to food, everything has analytics involved. This innovation has not left production facilities untouched. Analytics is making work at production facilities a cakewalk. Some of the major applications which have their hand in making work easy at production facilities are listed below.

  1. Dozuki

Dozuki is a standard work software that has changed the way the production space operates. Dozuki is dominating the visual learning platform by analyzing various trends and making videos on work instructions like repairing a car, opening a refrigerator, operating a piece of particular equipment, etc. This app makes use of images and video clips that are interactive and translates them into work steps and procedures. It is a very convenient application with a simple user interface. It is packed with everything you are looking for in a production-based application. It removes the complexities of a classroom training program where one can easily forget the basics of a particular procedure. The feedback option in the application is quite effective and the users can give their inputs on how they want their procedure videos.

  • Limble CMMS

The machine count in a production facility is huge. To manage all of the machines together is quite a difficult task. It is a maintenance software that a production facility needs. It monitors machines, equipment, spares and every other aspect which comes under such facilities. It keeps the machines running smoothly. Also, it optimizes the manpower cost which is involved in operating such giant facilities. This application is also rich in video content giving relevant information on manufacturing processes such as extraction, polishing, etc. It also has a simple and easy to use interface. It keeps a constant tap on the performance and productivity of machines. Such kind of applications also helps people to keep a tap on the physical maintenance of machines thus saving a huge cost which production facilities would have incurred on a sudden breakdown of any equipment.

  • Microsoft Power BI

This is a powerful analytics tool that can give insights on every aspect of a production facility. It can compile a huge amount of data on different processes and bring out relevant conclusions and process rectifications. The visuals are easy to understand and provides an in-depth understanding of various processes. It can automate the whole process by running various reports and publishing them in pre-decided time frames.

It removes the complexities of manual processes and makes production an error-free and smooth experience. This application has multi-fold benefits. It saves time and generates reports which can be easily deciphered by the people working in production facilities. Various metrics can be formed and tasks can be monitored with the help of automatic alerts. This helps people on maximizing the returns from the production function. In the end, everything is about optimizing costs and increasing revenues.

Conclusion

With every passing day, data is becoming a part of our lives. Analytics is shaping the whole world into a data-driven economy. With its increasing benefits, it is elbowing its way into all sectors and businesses. The production business is squeezing out everything it can and making the best use of data analytics in its day to day functioning and will eventually make itself a data-driven function that works on digitization and analytics.

What Are The Ways Big Data Is Changing The Healthcare Industry?

Posted on by Imarticus Learning

Introduction

Big data is the new elephant in the room. One can do nothing but notice how fast its applications are increasing and talk about it. Big data has made use of such information which was collected through various systems but was never used. It is evolving with every passing day thus making itself a lucrative investment for companies who want to survive and flourish in this era of globalization and innovation. Big data analyses huge chunks of data a matter of seconds, thus drawing useful insights and also saving time, money and human effort.

The Healthcare industry

The health care industry includes everything from drugs to hospitals, diets to well being and a lot more.  The commercialization of the healthcare industry is growing at an alarming rate. It is one of the fastest-growing sectors involving almost the whole population of the world and loads of money thus forming almost 12% of the economy of any developed or developing nations. This segment has huge potential which was untapped until now.

With big data and analytics taking over the world, the healthcare industry has evolved tremendously. From medical insurance companies to drug manufacturing giants, all of them are minting money by using their data to the fullest, extracting out details one could have ever imagined.

The Healthcare industry and Big Data

The application of big data in the health care world has proved to be again for both – the parties providing services and the parties receiving the services. The big data uses the health data of millions of people to create a digitally empowered market. The big data has served its purposes by controlling harmful epidemic diseases and also curing millions of people. The major application of big data is in optimizing cost structures.

Various hospitals analyze the patients’ data available with them, finding out the intersecting points, working on them and saving millions. Various drug giants analyze their data with the help of big data thus improving their supply chain operations efficiently and increasing the reach of the medicines produced by them.

The health insurance market is a crowded space. The doctors make use of data to understand a particular patient, his medical condition and possible disease thus helping in curating the best insurance plan for that particular individual. This data also helps doctors in new findings and figuring out new innovative ways to cure diseases. Also, big data has not only made the analysis of data easy but also the collection of data a pretty convenient.

Data analytics also provide individuals like us to keep a tap on our general well-being and health. Various applications like Google fit keep calorie counts and heart rate information in data bits helping an individual to monitor his activities and also helping these big companies keep track of the lifestyle of their consumers.

Big data analytics training is helping hospitals to make staffing decisions so that they have an adequate number of people available when the hospital is oozing with patients. Also, this helps in tracking the hospital supplies and inventories like local painkillers, surgical equipment, surgery wearables, etc. It keeps the whole ‘Hospital-Ecosystem’ in check. It also helps in tracking real-time information and providing feedback on patients’ health regularly thus making the job of a doctor pretty convenient. Big data has brought the whole healthcare industry on a digital platform where details such as the medical history of a particular patient can be figured out in a fraction of seconds.

How this data is used by the Government

The government uses this data to chalk out the healthcare strategy for a particular country it belongs to.  This data helps the government in figuring out the number of hospitals, medical supplies, etc. needed by its people. This data can also be used in educating people about the benefits they can avail in terms of health care and well-being.

Conclusion

The healthcare is growing and this growth is not going to stop anytime soon. Like all other industries, big data is driving this growth and transforming the healthcare industry into a whole new world thus improving the decision making process and optimization of costs.

How Do A Big Data Help In The Insurance Sector?

Posted on by Imarticus Learning

 

Understanding Big Data

The concept of information is power puts data into the center of progress, data today is the real deal. How exactly to put together the concept of big data? Well, the name is very suggestive and builds a clear picture as to what it could be.

Big data can be understood as a big, complex & voluminous database that contains a variety of information regarding everything and anything that generates some kind of information. The data sources are ever-growing and the velocity of data from these data points is magnanimous, adding tons of data every second to this existing large database called the Big Data.

So what’s the use of collecting this data from every source available? In the digital age, we are consuming a huge amount of data on a daily basis, courtesy of the internet. Whatever we search on google is available because somebody tried to store it and upload it for the use of masses.

Now while using the internet we don’t just consume the existing data but create new data sets which could be in the form of anything ranging from our names, contacts to our web history. The three V’s important to the formation of the big data are Velocity, Volume, and Variety.

Why fuss over the big data? Well because the big corporations are ready to kill for it! Big data provides much-needed insights into customer preferences and their data history which can help them inefficient targeting of customers and better their sales and marketing revenue.

Big data scientists gather specific information and the technical know-how while preparing to enter the industry of data science, they use big data for providing valuable insights to the firm. The big data analytics training has helped boost the career prospects of people from the IT space. One of the reliable programs is the big data Hadoop training course which is curated by Hadoop industry experts.

Implications in the Insurance industry

If you had the power to predict something with high probability on the basis of the past track records wouldn’t it be fruitful? That’s how big data help every industry in general that needs a past track record to implement changes in the future functioning. Broadly, insurance ranges from general to automobile & healthcare which is further broken down into sub-segments depending upon the industry.

The most obvious use of big data in insurance is customer insights based on the information gathered from the customer since this is a generic one applicable to every industry it’s easily understood. Let’s take an example of the automobile insurance so the information relevant to pricing the insurance policy premiums and add-ons depends on various factors like safety level in the buyer’s vicinity to their historical driving record. The insurance firm can accordingly charge different buyers with different rates as the degree of safety is very subjective and also the driving habits of people vary.

Where do insurance companies fail? If you go in a little deeper into the subject you’ll find that the level of fraud related to an insurance claim is paramount resulting in loss to insurance providers. Now the case of moral hazards is very prevalent and people often see insurance as a total safety net so they don’t even bother to maintain a minimum safety standard.

Big data steps in to identify a probable false claim based on the history of the party claiming an insurance amount, the level of fraud has come down drastically owing to big data in insurance.

What all can go wrong for any particular scenario of insurance? These scenarios are also developed with the boon of big data. This helps in better premium pricing and reduce the chances of a surprising claim for unaccounted factors.

Conclusion

The term big data is very suggestive of the work it performs and what it holds in its reals. Containing the massive amount of databases from each and every data point, big data paves the way for future based on the historical records of things. Among the numerous applications of the big data, the Insurance industry seems to be gaining a whole lot from the insights that this mammoth entails. From reducing the cases of insurance fraud to pricing the premiums of various insurance policies given the subjectivity of the user, the big data is shaping the insurance industry for a better future and better profitability.

How Big Data Can Help Boost Sales?

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How Big Data Can Help Boost Sales?

Selling in general

Sales form the backbone of any organization. You need the revenue to soar up in order to quench up your profit maximization quest, that is what every capitalist aspires to do. No matter how good is the product or the services of a company, it will only grow the bottom line if it gets a good top line, i.e. sales.

Ever wondered how do salespeople close the deal and how do they manage to convert clients on the basis of leads? Well, the process is long and complex, it needs a lot of dedication and commitment to stay at the top of the game. If you ask a salesperson how did they manage to work wonders with a mere lead, the general response will be that they identified the needs of the customer and aligned it with the benefits provides by the products/ services they were selling.

A good salesperson knows the customer inside out and for that, you need to spend a considerable amount of time and money tracking the whereabouts of your customers and maintaining a personal relationship to some extent. You have to be a detail-oriented person who knows the nitty-gritty of things and is able to use the information to your benefit.

Sales in times of the big data

Sales in the times of the data revolution have changed drastically and more in favour of the salespeople easing their work with technology and insights. The above-mentioned approach to sales was commonplace until big data became the next big thing and technology evolved to complement this transition.

In the present scenario, whatever you need to know about your customer is available at your fingertips, thanks to big data. Name, number, email, address, etc. have become very generic and no efforts are required to gather the same. More advanced data about particular preferences, be it food habits or their personal hobbies everything and anything is available for those who use the World Wide Web and smartphones.

It doesn’t matter how insignificant a piece of information is, big data stores everything it can. Mostly the insignificant information about individuals combines to form a meaningful database that helps to obtain statistical inferences about a hypothesis.

For salespeople the big data is like a personal genie, they don’t need to wait long hours for meetings that might not even be relevant at the slightest in hope of conversion. Big data helps to boost sales by allowing salespeople to act upon the customer data available.

Big data Analytics Courses help salespeople by providing the required database to analyze past data and optimize their pricing given the demand and supply of the product or the services. It also aids in providing better visualization of the data to put in the right context. Other uses of big data in sales can be understood by the compelling case studies of the consumer.

What’s necessary for better conversion? Well, a good marketing stint of course. Marketing has evolved drastically over the past decade, with big data marketing that has eased the pain for salespeople through better targeting and advertising of the product and services offered.

From making predictions about what can sell well to designing the products that the existing customers need, big data helps a whole lot to make sales easier and more predictable than ever. Big data is also used to shape customer preferences.

The big data serves a special purpose for companies that are starting up and early in the process, it helps the companies to analyze data generated by the peers in the industry who already have been there for a significant amount of time and then helps to identify the loopholes and design their products and services better.

Conclusion

Sales are the backbone of every organization. You need revenue and profits to continue and grow your business empire, most of the expenditure related to operations is financed by the revenue generated through sales. In today’s scenario, big data plays a crucial role in increasing sales and in turn profitability of an organization. It helps the salespeople to target the right customer and design products more aligned with the needs of regular customers through its data insights.