With the uses of Big Data being so vast, how do companies that use Big Data utilise it specifically for their business processes?
Have you ever wondered who uses Big Data? With the uses of Big Data being so vast, a better question would be how do companies that use Big Data utilise it specifically for their business processes? We take a look at four companies to see why and how they’ve employed Big Data services for their business.
For our non-UK readers, Tesco is a large chain of supermarkets here in the UK along the same lines as Walmart in the US and Carrefour in Europe. The retail giant has employed Big Data in one of the most powerful ways to boost its sales and keep their customers coming back time and time again.
Tesco has a loyalty scheme that rewards shoppers for their purchases. Every time you make a purchase, your Clubcard is swiped and Tesco get a little bit more insight into your profile as a shopper. This Big Data is then used to offer you a truly personalised shopping experience. Customers will receive money off coupons and incentives based on their past shopping habits and trends.
Say, for example, you begin buying baby products, wipes and nappies (diapers for our US counterparts!), Tesco’s Big Data powerhouse would soon start offering money off or exclusive promotions on complementary baby products to keep you returning to store for everything you need for your mini-me. As such, Big Data is big money and Tesco isn’t alone in using Big Data to create personal shopping experiences as many stores continue to jump on the bandwagon with clubcard schemes to reward shoppers for their loyalty.
As the UK’s largest online supplier of trade tools and hardware products, one of the reasons that Screwfix’s 30 years’ experience in the industry has been so successful is down to their ability to adapt to contemporary marketing trends. Using Big Data to boost sales was a no brainer when it came to advancing and making the most out of their sales processes.
One of the best uses of a Big Data solution is being able to extract extremely detailed information on customers and spending trends, which can in turn help make business improvements and increase sales. Screwfix use Big Data to source the reasons behind any declining sales. In analysing ordering patterns and sales opportunities, powerful sales information is made easily accessible to account managers and employees. This information can then be used to amend sales calls and ordering processes to reflect what users truly wanted. Sourcing such information and then enforcing the relevant changes to make improvements would have been impossible without Big Data services.
Companies like Coca-Cola, though seemingly untouchable within their industry, still need to use Big Data to take advantage of the insight it can provide. They employed Big Data in an innovative way that allowed them to combine and interconnect all of their services so that separate but equally reliant sources of data were working in tandem, resulting in all data being found in one place. This meant that any problems in production, distribution, delivery or otherwise, were made apparent across the board, so that the source of the problem could be isolated and rectified much quicker than they were before. Efficiency at its best.
US veteran-centric holistic care provider VetAdvisor provide coaching services for army veterans, covering a variety of aspects across transition and career development including behavioural health, wellness, and financial support. As well as this, they also work with HR and recruitment departments within organisations to help better communicate with veterans and guarantee career stability.
VetAdvisor decided to integrate Big Data to automate specific workflow processes, therefore reducing workload and providing more time to interact on a one-to-one basis with clients – which was necessary due to the growth in veterans relying on the service. Uses of Big Data for a service led company such as VetAdvisor allows for administrative processes to be completed in a more efficient way by a secondary source. Although a necessity, certain responsibilities and processes can easily be passed down to a Big Data service provider to free up more time for the more practical running of the business itself.
Uses of Big Data can vary massively depending on the companies using Big Data and their intentions and requirements. Used to change processes, sales techniques or even to save time on specific responsibilities to leave time for more proactive jobs, it can be utilised by companies from all industries and sectors, for a range of different purposes.
Have you used Big Data to implement change in your business? Let us know in the comment box below.