Introduction In big data analytics huge volumes of data are examined. Basically, companies today want to be highly objective and data-driven, which is why they are harnessing the power of big data. Big data strategy consulting is carried out by means of cutting-edge software systems. This enables businesses to lower the time consumed by analytics and results in rapid decision making.
Big Data Analytics to Enhance Customer Acquisition and Retention In 2015, Coca-Cola was able to fortify its data strategy by developing a digital-led loyalty program. Data from consumer input is also helping them create more relevant content for different audiences. Their director of data strategy confirms that big data analytics is what has been driving customer retention at the giant beverage corporation.
Big Data Analytics for Targeted Advertising
A good example of a popular brand that employs big data analytics for targeted advertising is Netflix. With subscribers numbering more than 100 million, the company captures tremendous data, which is used to give them insights on content that interests the subscriber most and enables them to share customized suggestions.
Big Data Analytics to Impel Product Development and Innovations Amazon employs big data strategies to move into a large market. A prime example of how big data has helped them improve innovation is Amazon Fresh and Whole Foods, an expansion of their grocery service, which was started based on data insights.