Big data helps reduce the bottom line
The advantages of big data are often discussed at length - this information is changing the way we conduct mass research and how products are marketed to a number of demographics and can actually save a company a fair amount of money when used effectively. In a country with a national debt that exceeds $17 billion, the value of a saved dollar here and there can't be overestimated for businesses in the public and private sectors alike, especially when taking on cloud hosting pushes an organization a step closer to what is thought to be the next major leap in tech. For those looking for that latest motivation to welcome the server cloud into your business, here's how it's changing the day-to-day and transforming the bottom line of some of the country's most important operations.
Studies indicate that big data is beneficial for the public sector
The TechAmerica foundation conducted a study earlier in 2014 that indicated nothing but clear skies for a public sector that is hoping to move toward big data. The real-time analytics nature of the technology that has made it so popular is projected to save as much as 10 percent of federal budget each year if fully implemented, which would add up to about $1200 per American citizen. This is nothing short of impressive, but the country as a whole has taken on big data with calculated slowness to ensure that data is not just generated but secured in a reliable manner every step of the way.
"Real-time big data is helping the government improve the quality of citizens' lives, according to 75 percent of federal IT officials," the report continued. "For example, by gaining insight into huge volumes of data across agencies, the government can provide improved, personalized services to citizens."
This is another area in which money can be saved by the government sector - though there are up-front costs associated with taking on a hosting company and fully training a department on all necessary components of the groundbreaking software, being able to better predict developments in medicine and other major cost factors can save the administration millions once the system is fully in place.
Benefits individualized for smaller, private businesses
Though your business may not have quite as much riding on it as the American government, big data can still cut down on long-term costs within a company when it's deployed in a targeted manner. The technology is best used when an organization identifies a specific problem, then synthesizes the information collected to make a decision that will reduce internal spending. According to Vipal Monga of the Wall Street Journal, any company can make big data work to its benefit.
"Planet Fitness Corp., for instance, has analyzed how much its treadmills are used, based on their proximity to dressing rooms, the front door and other high-traffic areas of its health clubs," he explained. "The information allows managers to rotate the machines to even out wear and tear, trimming the company's capital spending."
Whether you're monitoring the health of a nation or the treadmill usage of a concentrated group, there's no doubt that big data is the key to developing your fiscal plan next year.
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