Data services is a term used to describe the provision of useful information and data to users globally without the limitations that come with geographic locations. Data services are sometimes known as data as a service (DaaS) and they are same as software as a service (SaaS) that involves the storage of data in the cloud where it is easy to be accessed through a wide range of internet enabled systems and devices regardless of one’s geographic location. Data services involve dealing with big data. Big data can be described as the huge volumes of data, structured or unstructured, that overwhelms the daily functioning of a business. In data services and analytics, the amount of data is not as important as the analytics derived from the data itself. Organizations use big data analytics to get insights that guide the decisions and strategic action plans. The effectiveness of big data analytics are based on what Doug Laney articulated for as the three Vs: volume of data, velocity of data, and the variety of the data. The three Vs define big data in terms of the amount of data collected, the data streams that are involved, and the formats that accompany the data.
The use of Big Data Analytics in the workplace
The amount of data that is currently generated and stored at the global and national levels has been on the rise. Big data analytics come with the following benefits in the workplace:
Use of predictive analytics in the workplace
Predictive analytics involves the application of data analytics, statistical algorithms, and machine learning abilities to determine the likelihood of future results based on past happenings.
Business owners can use predictive analytics to formulate effective marketing strategies. Predictive analytics will make it possible to determine the effectiveness of promotional strategies in terms of channels used and customer segments.
Multichannel contact with the same customer is important, as it will increase the effectiveness of marketing strategies. It will help a business identify its loyal customers through determining those who are able to maintain contact with them using different channels due to the interest they have in the business.
Use of Enterprise Big Data in the Workplace
The benefits that come with the use of enterprise big data may include: