Contemporary applications of big data in business

 

Contemporary applications of big data in business cover various industries. Below i have gave examples of how big data is used in businesses.


Customer analytics: Business analyse large volumes of customer data to gain insights into consumer behaviour, preferences and sentiment. By using big data analytics, companies can personalise marketing campaigns, improve customer segmentation and enhance customer experiences.


Supply chain optimisations: Big data analytics helps optimise supply chain operations by analysis large amounts of data which is related to inventory levels, productions processes and transportations routes.


Fraud detection and risk management: big data analytics is used to detect fraudulent activities, mitigate risks, ensure compliance with the regulatory requirements. by analysis's transaction data, behaviour patterns, businesses can identify potential fraudsters, detect suspicious activities and prevent financial loss.



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