Top Big Data Trends
Today, ‘Big Data’ is more than just a buzzword, due to which we’re witnessing the large scale adoption of big data technologies across industries. The availability of humungous data sources, the new generation of technology, and the cultural shift towards analytical decision making are all major contributors to the big data revolution. While it’s quite clear that the adoption of big data analytics will grow in the coming years, a question that is left unanswered is – How will leading businesses leverage big data to their benefit? This means keeping track of big data trends is essential for business success. Here are a few big data trends that are set to shape the future of this market:
- Machine Learning Techniques
- Predictive Analytics
- IoT
- Industry 4.0
- Edge Computing
- In-memory Technology
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The Importance of Big Data
The global audience in today’s technologically oriented world is tech-savvy, well-informed, and more empowered than ever before. This has necessitated the need to engage with them in more innovative and personal ways to spark the interest and earn the trust of the global audience. With meaningful insights available at their fingertips, successful businesses will be the ones that leverage big data analytics to their advantage to thrive long into the future. Failure of which may prove disastrous – so, don’t get left behind in the race to success!
Client’s Profile
The client – a leading global consumer packaged goods manufacturer in the US.
Project Background and Solution Offered
The client, a renowned consumer packaged goods manufacturer faced major challenges in mapping its brand performance across 40+ market segments in the South American region. Adding to their woes was their inefficient data management strategies due to which the insights obtained from their databases were scattered and unorganized. This made it even more challenging to gain a unified view of the relevant market data.
Such factors compelled the consumer packaged goods manufacturer to engage with a third-party big data analytics solution provider to harness maximum insights from their data sources. The consumer packaged goods manufacturer deployed Quantzig to deliver a real-time, single source of truth across all data categories, markets, and demographics to build stronger brand strategies.
Our analytics experts offered customized solutions to help the CPG industry player gain a better hold on their data sources to gain a unified view of their data sources across various categories.
Value Delivered to the Client
The South American region alone comprised of 40+ market segments and the consumer packaged goods manufacturer relied on traditional BI tools and spreadsheets to glean insights for these market segments. However, the lack of big data analytics and predictive analytic capabilities prevented them from gaining in-depth insights into complex and disparate data sources.
The solutions and recommendations offered by our experts empowered the consumer packaged goods manufacturer to consolidate data from different sources and formats into a single source to generate valuable insights for business decision-making.
Today, CPG industry players are increasingly seeking to differentiate themselves on speed and efficiency and are integrating such factors into their data management strategy.
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