Big data analytics
Big data analyses for vast knowledge potential
People create endless amounts of data around the world every day. As a result, the volume of data volume increases rapidly on year.
For some time now, the term "Big Data" has come to be used as a description for this flood of data. This concerns data created in companies, such as customer relationship management, enterprise resource planning and supply chain management data ("structured data") as well as data originating from web sources like portals, contributions from social media, weblog entries and so on (unstructured data).
The challenge companies face when dealing with this structured and unstructured data lies in analysis and in making the most of the great potential hidden in significant pieces of information. While an analysis of structured company data is largely a daily occurrence, unstructured data that has often been stored for years also exists, with a potential that is yet to be discovered because it has never been analysed.
Predictive Analytics, Advanced Analytics or Pattern Search methods are examples of functionalities that help companies make targeted decisions.
In addition to these methods, however, access to an analytical database that can process both structured and unstructured data is also essential for converting big data into valuable knowledge. EXASolution 4.2 as a data warehouse platform helps you to use big data analyses efficiently and to process them in the future.
Advantages of big data analyses:
- Definition of new business models
- Competitive advantages due to the quick provision of analytically-obtained insights into operational business.
For commercial enterprises: Optimum price structuring also for extensive product portfolios at an unprecedented speed.
For banks and insurance companies: Faster risk calculations for supporting complex questions in core business such as capital optimisation and liquidity planning.
For manufacturing companies: More efficient insight into customer behaviour provides information for the targeted address and marketing of products.
Using analytical expertise and suitable technology, IT can become a real value-driver for your company.