Big Data Analytics revolutionizes the Enterprise Decision Making
Businesses involve numerous risks before an enterprise can get to witness the part where it achieves massive success. The decision makers require a lot of accepted wisdom, rational judgments, and intuition prior to arriving at a well-informed decision or assessment about where it should be directed.
Initially, enterprises made decisions, primarily depending on determinants like experience and intuition. With the evolution of the global market and the introduction of the fast-paced digital transition across all verticals, along with stable solutions and techniques coming to the aid of enterprises, decision-making is now based purely upon analysis, data, reports, and records, against traditional intuition.
Big data analytics has been a significant revelation for enterprises since it has strengthened the principles of business enterprises. Enterprises now acknowledge the benefit of the time required before developing marketing strategies; enterprises like to conduct in-depth research on the customers to analyze their behavior. This development is a much-needed break from the time when enterprises had to rely on feedback from the customers as the only source of understanding.
As of 2018, more than 50 percent of companies are using big data analytics in their business, which shows tremendous growth as compared to 2015, when the number was only 17 percent.
The inclusion of big data analytics in decision-making has and is still proving to be immensely beneficial for enterprise mobility solutions. Nevertheless, even with the various benefits that it comes with, there are some barriers too. The primary one is that decision making in enterprises was done with experience, knowledge and critical understanding of the business. On an entirely new level, it is still hard for enterprises to adjust to the fact that all the decisions would now materialize based on logistics and analytics.
This is why it is still going to take some time for Big Data Analytics to sink in completely. Nonetheless, so far, the results of this technology in businesses have been excellent! Gathering and analyzing customer information and using big data is now providing enterprises with the capability to transform the way they make out-of-the-box decisions significantly.