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• Marketing analytics: This provides information that can be used to improve marketing
campaigns and promotional offers for products, services, and business initiatives.
• Sentiment analysis: All the data that’s gathered on customers can be analysed to reveal how
they feel about a company or brand, customer satisfaction levels, potential issues, and how
customer service could be improved.
Big Data and AI
Big data and AI have a synergistic relationship. Big data analytics leverages AI for better data analysis.
In turn, AI requires a massive scale of data to learn and improve decision-making processes. With
Big data and AI-powered analytics, you can empower your users with the intuitive tools and robust
technologies they need to extract high-value insights from data.
By bringing together big data and AI technology, companies can improve business performance and
efficiency by:
• Anticipating and capitalising on emerging industry and market trends.
• Analysing consumer behaviour and automating customer segmentation.
• Personalising and optimising the performance of digital marketing campaigns.
• Using intelligent decision support systems driven by big data, AI, and predictive analytics.
Applications of Big Data
Big data is used in several industries and spheres of activities, such as:
• In Consumer Product companies, big data provides valuable insights into customers that can
be used to refine their marketing, advertising and promotions in order to increase customer
engagement and conversion rates.
• In Medicine, big data is used by medical
researchers to identify disease signs and
risk factors and by doctors to help diagnose
illnesses and medical conditions in patients.
• Financial services firms use big data systems
for risk management and real-time analysis
of market data.
• Manufacturers and transportation companies rely on big data to manage their supply chains
and optimise delivery routes.
• Government uses of big data include emergency response, crime prevention, and smart city
initiatives.
DATA MINING
Data mining is the process used by companies to turn raw data into
useful information. By using software to look for patterns in large
batches of data, businesses can learn more about their customers
to develop more effective marketing strategies, increase sales, and
decrease costs.
The Data Mining Process
The data mining process is usually broken into the following steps.
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