The amount of data in our world is growing exponentially. The amount of data generated over the past few years is much more than the data generated in the previous century altogether. Companies capture vast amount of information about their customers, clients, vendors, suppliers, and general operations.
Big data—large chunks of data that can be captured, aggregated, stored, and analyzed is present in each and every business, across all sectors.
The business potential and economic possibilities of big data in Dubai could be tremendous in the coming years, if tackles in a correct way.
Value of Big Data in Dubai
By making big data in Dubai more easily accessible to relevant stakeholders in a timely manner can create tremendous value. In the public sector, for example, making relevant data more readily accessible across otherwise separated departments can sharply reduce search and processing time. In manufacturing, integrating data from R&D, engineering, and manufacturing units to enable concurrent engineering can significantly cut time to market and improve quality.
Using transactional & non transactional company data for example, years of customer purchasing activity, years of vendors & suppliers activity, inventory levels and turnover, business users can ask questions such as which are the most profitable customer segments and get answers in real-time. This data can be used to create strategies that help make short-term business decisions and longer term plans. Performance management involves understanding the meaning of big data in company databases.
CUSTOMIZED & TARGETED SOLUTIONS
Big data in Dubai allows marketers to develop tailored products and services to customers depending on each ones’ needs & priorities. Consumer goods and service companies can deploy more sophisticated big data techniques such micro segmentation of customers to target promotions and advertising. This method can also be used in other sectors such as healthcare to treat citizens in a much better and targeted way.
This article is written by Marketways Arabia – a leading market research & management consultancy in Dubai, U.A.E offering solutions Market Research, Customer & Data Analytics, Business Intelligence, Strategy & Corporate Training.