Data Mining and Analytics
Data Mining and Analytics can provide valuable insights and high growth potential to any data-driven business. According to survey performed by Bain & Company of more than 400 executives in diverse range of businesses and industries revealed that companies with better analytics capabilities were twice as likely to be in the top of financial performance in their industry, five times more likely to make decisions faster than their peers and three times more likely to execute decisions as planned.
Even if most of executives understand the opportunities provided to
their businesses by Big Data, they still struggle with some common
- How to align Big Data benefits to specific sector?
- How to identify what kind of Data may provide best insights and improve decision making process?
- Which specific technologies and skills are needed to understand their Data?
It is obvious that any sector can capture value from Big Data, but it is
also important to keep in mind that approaches, skills, technologies
and correspondingly opportunities and challenges vary from sector to
One of the best examples of implementing Big Data Analytics in retail sector is Target’s experience skyrocketed which sales, and the company’s revenues have grown by $23 billion since the new data-driven strategy was implemented.
ENERGY (OIL and GAS) INDUSTRY
More and more people are going online on daily base dealing actively with Digital Channels. There are variety of Digital Channels:
- Internet (websites, searches, ads),
- Social (publish, shares, likes, comments),
- Mobile (location, apps),
- Interactive (OOH out-of-home)