Question - How is big data analysis helpful in increasing business revenue?
Answer -
Big data analysis has become very important for the businesses. It helps businesses to differentiate themselves from others and increase the revenue. Through predictive analytics, big data analytics provides businesses customized recommendations and suggestions. Also, big data analytics enables businesses to launch new products depending on customer needs and preferences. These factors make businesses earn more revenue, and thus companies are using big data analytics. Companies may encounter a significant increase of 5-20% in revenue by implementing big data analytics. Some popular companies those are using big data analytics to increase their revenue is – Walmart, LinkedIn, Facebook, Twitter, Bank of America etc.