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The Benefits of Big Data
Here's a look at five ways you can get big data to work for your company. Improved Understanding Of Customers Customer expectations, needs and preferences are ever changing which put companies under constant pressure to try and understand customers. Fortunately, big data has revolutionized market research helping companies to better understand their customers. A report published by Forrester revealed that 44% of B2C marketer use big data to boost responsiveness and 36% actively use data mining to help them gain greater insights and plan for more relationship-driven strategies. This helps the companies boost the success of their marketing strategies. Data mining refers to the process used to examine large datasets to generate new information. Therefore, accurately quantifying these data plays a significant role in revealing a customers behavior based on previous transactions. A notable instance in of Netflix which has the ability to provide customers with next movie suggestions based