Why Business That Use 'Big Data' Make More Money (Infographic) You have probably heard people talk about 'big data.' If your eyes start to glaze over when that term is mentioned, get your Big Data 101 Intro lesson here.
Opinions expressed by Entrepreneur contributors are their own.
"Big data" is buzzy, and if you drop the phrase at a cocktail party, you will probably earn yourself some serious street cred. And rightfully so. Big data is big news these days, because it has the potential to make a pretty profound impact on the bottom line for a business.
Collecting large quantities of information and analyzing it allows entrepreneurs to make better, more strategically beneficial business decisions. The infographic below was generated by the big data analytics platform Datameer to demonstrate how using data can result in smarter business decisions and more revenue for all sorts of companies. Think: advertising firms, loyalty programs and online retailers, to name just a few.
Related: Lessons from a Food-Tech Startup: Big Data Isn't Just a Buzzword -- It Can Be Your Secret Weapon
Have a look at the infographic for other examples of how big-data analytics are being used by businesses to make better decisions and more money.
Click to Enlarge
