A study by the BARC revealed how the biggest companies in the world are using big data. Interestingly, North American companies are utilizing big data analytics more than European companies and use of big data analytics is particularly popular in the retail sector worldwide.
Of course, the main reason companies use big data analytics is to analyze large amounts of data, but within that there are many other benefits, and having quick access to data improves processes throughout the company. Organized data means it’s easier for people to make informed decisions about where to take the company and the actual people who analyze the data now have a far easier job.
Inadequate technical know-how seems to be the main thing holding companies back. In many companies hiring the right staff is the problem and this can be a hard obstacle to overcome. For example, one potential problem with big data analytics are the privacy issues that come with it, and if companies don’t have the staff to ensure privacy isn’t an issue, there is the potential for companies to run in to problems. Check out this infographic Colourfast for more information on the use of big data.
Chris Landry is the Managing Director of Colourfast Printing, a family-owned international printing business based in Ontario, Canada and operating since 1993. His company offers a complete plastic card and phone card manufacturer’s service to cover any customer’s needs.