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Using big data to drive enterprise success

Enterprises are using big data, a hot technology, to drive success in sales, corporate growth, customer retention and more. According to Forbes, big data can be used to support all types of businesses in a variety of initiatives. Examples abound of retailers, enterprises, government agencies and others that have harnessed vast amounts of data to gain insights that allow for greater success. Forbes reported that Barack Obama used big data in his presidential campaign. The president is a big believer in the power of big data.

Forbes reported that big data can help establish lead generation, inform leaders about how to market products and services and streamline business CFO. By analyzing large amount of data that most companies are inundated with, executives can gain helpful insights that change perspectives, leading to more success.

Big data isn't going anywhere
According to CFO, big data may be trendy, but it's unlikely to go away anytime soon. The news source reported that big data was discussed at MIT Sloan's CFO Summit. "Big Data is a great opportunity," said Jeanne Johnson, business intelligence principal at KPMG. "I think it’s changing the way business is going to be done, but it takes time to get the good foundation to harness the data." 

Ron Gill, CFO of NetSuite, added that big data initiatives are useless if those deploying them don't have clear strategies, according to CFO.

Retailers are using big data to drive sales
According to Enterprise Apps Today, retailers are turning to big data as a way to drive more sales. Williams Sonoma and Expedia are both using big data to enhance their customer relationship management (CRM) strategies, according to the news source. "We know what you are buying and what channel you use,"  said John Strain, CIO of Williams Sonoma. "We can tell if you are a full-price, a discount or clearance shopper." The retailer can use this information to tailor campaigns and strategies, reported the news source.

Major League Soccer is also using big data to improve merchandising and digital subscriptions, according to Charlie Shin, CRM and fan engagement director at the MLS, Enterprise Apps Today reported. Individual teams can tap into the behaviors of their unique fans.

Expedia is also using business intelligence tools to revolutionize the travel market, reported the news source.

Use big data wisely
According to The Financial Times, the point of big data isn't to have an immense amount of information available. It's more about finding the best platforms and solutions to harness that data for insights and use. Hiring big data specialists and those who understand how to harness data for best practices may be useful to enterprises looking to gain insights from big data analytics. There are a number of vendors that offer big data software solutions. As the market becomes greater, these solutions continue to advance. IT decision-makers, business executives, managers, marketers and others can benefit from big data analytics.

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