The riddle most companies want to solve desperately is "how to increase margins while giving better services to clients?" And if they want to keep the competition at bay then they have to deliver the services with competitive costs every year. The only solution to this is non-linear scale of growth, which is possible with big data.
A big data technology can help these companies tremendously in achieving what they want. However, there are two ways to increase margins (a) Achieve scale of economy or (b) Improve productivity and efficiency.
To achieve scale of economy, companies will have to sell more and that means more insights are required into their consumer behavior to be able to benefit. On the contrary, if companies choose to improve productivity and efficiency then they will need to better their operations. In both the scenarios big data can provide some quality actionable nuggets.
Big data has answers to almost all questions provided right inputs are given to it. So if companies are looking to benefit from big data then they need to look for three important aspects - (a) How to ask right questions? (b) How to provide right inputs for these questions? (c) How to ensure right implementation of big data technology?
If done right, big data can be a great driver for companies' non-linear scale of growth.
