Every business has to deal with data on a day-to-day basis. But with such large volumes of data, organisations are faced with an ongoing challenge to curate, manage, and govern this amount of data.
The improved accessibility to big data platforms and big data analytics software is benefiting businesses with the collection and analysis of data to mine useful business data and insights in order to further improve their product and service offerings.
The benefits of big data analytics software include efficient analysis of collected data and the development of predictive and prescriptive models to further enhance overall productivity and value of a business.
The idea of big data has been looming for numerous years.
Organisations today ensure that they secure all the data which flows into their business, in order to exploit analytics and acquire substantial value from it. Before big data, enterprises were only implementing basic analytics such as numbers in a worksheet in order to discover trends and insights.
5 reasons to use data analytics for your business include:
Identify your target customers – Once you understand what products are suitable for what clients, you can determine the areas that you are going to focus on and for which customers
Reduce operational costs – with a good data analysis system, you can to determine the sectors of your business that are using unnecessary finances and the areas that need more financing
Create reports containing company financial accounts and information – this includes a company credit score, built with multiple financial and non-financial datasets that take into account a company’s financial strength
Improve targetted marketing – Using data analysis, you can determine what forms of advertising reach your customers effectively and make an impact that will make them buy your products
Spot trends in consumer behaviour – knowing the patterns and behaviours of your customers means you can gain a more competitive advantage over competitors
PXP Data Analytics
The Populous World XBRL platform (PXP) offers business intelligence solutions, and provides an easier understanding of data visualisation, accelerates a business’s growth and achieve longevity, by using advanced big data processing technologies effectively.
>>Does your organisation need big data analytics tools to make faster, intelligent decisions?<<
With PXP you can make your data easier to understand, simpler to communicate, and much more useful. You can create a company credit report containing company financial accounts and information – this includes a company credit score, built with multiple financial and non-financial datasets that take into account a company’s financial strength