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Seven Ways to Make Big Data an Actionable Opportunity

  • Seven Ways to Make Big Data an Actionable Opportunity-

    Big Data is about connected data, piecing together multiple and separate data points to identify patterns that help predict outcomes and prescribe actions – automatically. When considering a Big Data software suite, make sure it has an analytical component to it, so you are getting “smart” data.

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Seven Ways to Make Big Data an Actionable Opportunity

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  • Seven Ways to Make Big Data an Actionable Opportunity-2

    Big Data is about connected data, piecing together multiple and separate data points to identify patterns that help predict outcomes and prescribe actions – automatically. When considering a Big Data software suite, make sure it has an analytical component to it, so you are getting “smart” data.

Companies can achieve Big Data success by starting small and focusing on the highest leverage opportunities, which can usually be found in sales and pricing strategies. Successful Big Data applications should be able to answer key questions that fall under the business intelligence umbrella (such as, “How do I sell more products to an existing customer?” or “Can I extract a higher price for this specific transaction?”). The ability to answer these questions with Big Data insights can help organizations respond more quickly to their customers, and also enable them to drive sales volumes and increase revenue. Here are seven ways, identified by PROS, to change Big Data from a buzz word to an actionable opportunity.