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India and Big Data Analytics: The Statistics and Facts

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India and Big Data Analytics: The Statistics and Facts

Data science, big data and analytics industry in India is expected to experience 8X growth hitting $16 billion by 2025 from the current $2 billion, experts say. Out of the terrific annual inflow to the analytics industry, nearly 11% can be ascribed to advanced analytics, data science and predictive analytics and a substantial 11% to big data.

In the next seven years, the Indian analytics industry will expand its horizons further and demand more analytics professionals to join the data bandwagon. Separately, the BI and analytics software market revenue in India will touch Rs 1980 crore in 2018, increasing at a rate of 18% per year. As a result, Indian companies and organizations are shifting their focus from traditional data reporting to augmented analytics tools that will not only enhance the process of data preparation and evaluation but will help predict the future outcomes, successfully.

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Trends in Analytics

Several sectors across the Indian industry of companies and startups have started embracing data analytics – no wonder, the data analytics landscape in India is growing rapidly, so is the revenue generation.

Contemporary, architecture-oriented data analytics tools are the order of the day. Rightfully so, the companies and budding startups are replacing tactical and traditional data analytics programs for more strategic approaches. The current breed of fast followers is even seeking hefty investments in advanced analytical solutions powered by AI, ML and Deep Learning. It would lessen the time taken to market and sharpen analytics offerings. Focused data management is bringing forth a rapid shift to the hybrid and cloud data management scenario – through iPaaS (Integration Platform as a Service) tools. Data lakes and hubs are also emerging here and there. They are in demand for ingesting and administering multi-structured data. Nevertheless, a lack of talent pool will cost the industry immensely. It can be a major deterring factor towards their seamless adoption.

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Statistics of Data Analysis

Geographically speaking, more than 64% of revenue generated from data analytics in India comes from the USA. We are a leading exporter of data analytics to the US, taking figures to as high as $1.7 billion. In the FY18 alone, the revenue generation from the US has increased by 45%. Next, ranks the UK with 9.6% revenue generation. Technically, analytics revenue generation in India has almost doubled from last year – in terms of countries Poland, UAE, New Zealand, Belgium, Romania & Spain. Furthermore, Indian analytics firms are not left far behind in the data game – they contribute 4.7% of analytics revenues to Indian analytics market.

Well, it seems India is doing pretty good in terms of adopting cutting data analytics technology and reaping fetching benefits. If interested in data analytics, don’t stay behind. Reach us at DexLab Analytics and throw your queries right away.

 

The blog has been sourced from ― www.dqindia.com/india-analyzes-big-data-science-analytics-market-india

 

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How Data Analytics Should Be Managed In Your Company, and Who Will Lead It?

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How Data Analytics Should Be Managed In Your Company, and Who Will Lead It?

In the last couple of years, data management strategies have revolutionized a lot. Previously, the data management used to come under the purview of the IT department, while data analytics was performed based on business requirements. Today, a more centralized approach is being taken uniting the roles of data management and analytics – thanks to the growing prowess of predictive analytics!

Predictive analytics has brought in a significant change – it leverages data and extracts insights to enhance revenue and customer retention. However, many companies are yet to realize the power of predictive analytics. Unfortunately, data is still siloed in IT, and several departments still depend on basic calculations done by Excel.

But, of course, on a positive note, companies are shifting focus and trying to recognize the budding, robust technology. They are adopting predictive analytics and trying to leverage big data analytics. For that, they are appointing skilled data scientists, who possess the required know-how of statistical techniques and are strong on numbers.

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Strategizing Analytical Campaigns

An enterprise-wide strategy is the key to accomplish analytical goals and how. Remember, the strategy should be encompassing and incorporate needful laws that need to be followed, like GDPR. This signifies effective data analytics strategies begin from the top.

C-suite is a priority for any company, especially which looks forward to defining data and analytics, but each company also require a designated person, who would act as a link between C-suite and the rest of the company. This is the best way to mitigate the wrong decisions and ineffective strategies that are made in silos within the organization.

Chief Data Officers, Chief Analytics Officers and Chief Technology Officers are some of the most popular new age job designations that have come up. Eminent personalities in these fetching positions play influential roles in strategizing and executing a successful corporate-level data analytics plan. The main objective of them is to provide analytical support to the business units, determine the impact of analytical strategies and ascertain and implement innovative analytical prospects.

Defensive Vs Offensive Data Strategy

To begin, defensive strategy deals with compliance with regulations, prevention of theft and fraud detection, while offensive strategy is about supporting business achievements and strategizing ways to enhance profitability, customer retention and revenue generation.

Generally, companies following a defensive data strategy operate across industries that are heavily regulated (for example, pharmaceuticals, automobile, etc.) – no doubt, they need more control on data. Thus, a well-devised data strategy has to ensure complete data security, optimize the process of data extraction and observe regulatory compliance.

On the other hand, offensive strategy requires more tactical implementation of data. Why? Because they perform in a more customer-oriented industry. Here, the analytics have to be more real-time and their numerical value will depend on how quickly they can arrive at decisions. Hence, it becomes a priority to equip the business units with analytical tools along with data. As a result, self-service BI tools turns out to be a fair deal. They are found useful. Some of the most common self-service BI vendors are Tableau and PowerBI. They are very easy to use and deliver the promises of flexibility, efficacy and user value.  

As final remarks, the sole responsibility of managing data analytics within an organization rests on a skilled team of software engineers, data analysts and data scientists. Only together, they would be able to take the charge of building successful analytical campaigns and secure the future of the company.

For R Predictive Modelling Certification, join DexLab Analytics. It’s a premier data science training platform that offers top of the line intensive courses for all data enthusiasts. For more details, visit their homepage.

 

The blog has been sourced from — dataconomy.com/2018/09/who-should-own-data-analytics-in-your-company-and-why

 

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#AskTheExperts: Best FAQs on Business Analytics

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#AskTheExperts: Best FAQs on Business Analytics

Do you want to make a living as a successful business analyst? Does the prospect of analyzing data and drawing meaningful conclusions interest you? Are you thinking of taking the next big step into the career of analytics?

The demand for business analysts is soaring. It’s even touted as the highest paid job in the field of management. The job profile of a BA includes understanding a business organization critically, tapping into the ongoing business problems and filing a proper documentation of all business requirements and securing future success for the organization.

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Below, we’ve whittled down few important FAQs on Business Analytics:

To understand or delve deeper into business analysis, opt for an excellent business analytics course in Delhi. Training courses as this will help you grab the hottest job in town.

Define business analysis.

Business analysis is a series of functions, implemented to assess the business needs and requirements and craft the best solution to ring bells of success in an organization or enterprise. This sequence of actions is generally performed by a business analyst.

Mention the industry and professional standards that a BA has to adhere to.

The most popular industry standards that have been set up for Business Analysts are OOAD principles and Unified Modeling Language (UML). They are recognized across the globe, so drafting requirements from any part of the world won’t be difficult.

What are the components of UML?

UML is a concoction of diverse concepts from a lot many sources.

  • For Structure: Actor, Attribute, Class, Component, Interface, Object, Package
  • For Behavior: Activity, Event, Message, Method, Operation, State, use case
  • For Relationships: Aggregation, Association, Composition, Depends, Generalization (or Inheritance)
  • Other Concepts: Stereotype – It qualifies the symbol it is attached to

Highlight the quality procedures that a BA normally follows.

Loud and clear, there exists no specific bar for such things, but if you ask us, Six Sigma and ITIL (Information Technology Infrastructural Library UK) have specific quality standards, which are more than enough. However, here we’ve enumerated some common things to consider:

  • Ensure the quality of communication is excellent and seamless.
  • Explore and decipher requirements of system functionality and user demands.
  • Collect, manage and analyze data for better business outcomes and future success of organizations in question.

Explain the procedure of Requirement Analysis.

JAD session usually precedes a Requirement Session. Business analysts, top notch sponsors and hardcore technical folks attend these significant sessions. In the end of the discussions, Business Analysts rifles through each requirement and asks from a valuable feedback. Now, if the sponsors and technical folks conclude all the requirements are as per business requirement, they will give an official signoff on business requirement documents, along with IT managers and business managers.

How do you define UML?

UML is the abbreviated form of Unified Modeling Language – which is referred to as a generic language for mentioning, envisioning, building and documenting the objects of software systems, business models and other non-software structures. Together, it’s a compilation of superior engineering practices that screams of proven success and functionability of large and complex models.

DexLab Analytics offers top of the line business analyst training Delhi – the course itinerary is crafted according to industry demands and seasoned consultants impart in-demand skill training to the aspiring candidates. For more information, visit their official site now.

 

The blog has been sourced from — www.wisdomjobs.com/e-university/business-analyst-interview-questions.html

 

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Cyber Security with Data Analytics: Key to a Successful Future

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Cyber Security with Data Analytics: Key to a Successful Future

Cyber security and data analytics are two dominant fields of technology that’s increasingly gaining a lot of importance. While data analytics helps in figuring out whether the latest campaign was successful or not, cyber security ensures all your confidential documents are stored in the cloud under supreme security and surveillance.

Nevertheless, learning them can be quite expensive and time-consuming. Especially so for the bosses, who like forever wonder if these in-demand courses would help their employees imbibe added skills and improved work expertise.

On the contrary, we would say attending data analyst courses in Delhi is not at all like a wager – in fact, in most cases, it turns out to be good bets for the bosses as their employees learn in-demand skills with which they strive for long-term wins for the company, pulling up the company’s fortune and future with them. So, not bad eh?

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The Pathway to Success

Now, talking about the employment and work opportunities, if you ask which positions would fill up sooner, you’d most certainly hear: data analytics and cyber security. The world is in dire need of skilled data analysts; and trust us, when we say they are difficult to find, but harder to retain! Because mature talent is not an everyday affair, anymore. So, what happens next?

A majority of cybersecurity tool providers are adding ultra-functional data science capabilities to their cybersecurity platforms. This includes factoring behavior-based analytics and responses into antivirus suites, firewalls, and traffic analyzers – which, eventually turns the products and services smarter and effective. Another domain worth noticing is the artificial intelligence, which when fused with data science can augment conventional cybersecurity. Though the technology is still in its nascent stage, soon it’s going to garner attention and develop full-fledged.

Meanwhile, the frameworks of cybersecurity are evolving. This exposes the challenge of securing black-box algorithms – an incredible product of data science program that helps us learn and grow dynamically.

As these analytical models are so highly intricate as well as valuable for the companies, cybersecurity professionals need to be well-versed in all avenues of data science for ascertaining protection to these models, while ensuring integrity at the same time.

Conclusion

Therefore, the convergence of data science and cybersecurity is proved to be one of the trendiest areas of technology industry in the next few years. With regular innovations and technological evolution, be prepared to witness a surge in the demand for data science and cybersecurity professionals before it heads towards a near-term horizon.

So, start preparing yourself now and be ready to hone your skills in elusive cybersecurity practices and AI controls and models to stay ahead of the curve.

DexLab Analytics offers comprehensive data analytics certification courses for freshers as well as intermediates. Pick a particular course, train yourself and dig deeper into the world of analytics.

For more information, visit their official website today.

 

The blog has been sourced from —

vulcanpost.com/644684/data-analytics-courses-singapore/

tdwi.org/articles/2018/01/16/adv-all-cybersecurity-plus-data-science-future-career-path.aspx
 

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The Success Story of Big Data Tooling

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The Success Story of Big Data Tooling

The world of hadoop data tooling is flourishing. It’s being said, Hadoop is shifting from possible data warehousing to an accomplished big data analytics set-up.

Back in the day, right after Hadoop at Yahoo was first invented, proponents of big data asserted its potential for substituting enterprise data warehouses, framed on business intelligence.

Open source Hadoop data tooling became a preferred choice more as an alternative to those insanely expensive existing systems – as a result, over time, the focus shifted to expanding existing data warehouses and more. Intricate Hadoop applications today are known as data lakes and of late big data tooling is found swelling beyond meager data warehouses.

“We are seeing increasing capabilities on the Hadoop and open source side to take over more and more of the corporation’s data and workloads, including BI,” said Mike Matchett, an analyst and founder of the Small World Big Data consultancy.

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Self Service and Big Data

In August, Cloudera launched Workload XM management services designed exclusively for cloud-based analytics. Alternatively, the company built a hybrid Cloudera Data Warehouse and a Cloudera Altus Data Warehouse, capable of running over both Microsoft Azure clouds and AWS.

The main objective of management services is to bring forth some visibility into various data workloads. Workload XM is constructed to aid administrators in presenting reliable service-level agreements for self-service analytics applications – says Anupam Singh, GM of Analytics at Cloudera, Palo Alto, Calif.

Importantly, Singh also mentioned that the cloud warehouse offers encryption for data both at still and in motion, and provides a better view into the trajectory of data sets in analytics workloads. Such potentials have gained momentum and recognition as well as GDPR and other programs.

However, all these discussions boil down to one point, which is how to increase the use of big data analytics. “Customers don’t look at buzzwords like Hadoop and cloud. But they do want more business units to access the data,” he added.

Data on the Wheels

Hadoop player, Hortonworks is a Cloud aficionado. In June, the company broadened its Google Cloud existence with Google Cloud Storage support. Enhancing real-time data analytics and management is a priority.

Meanwhile, in August, Hortonworks churned out Streams Messaging Manager (SMM) with an objective of handling data streaming and provide administrators comprehensive views into Kafka messaging clusters. They have increasingly become popular amongst big data pipelines.

These management tools are crucial for moving Hadoop-inspired big data analytics into production capacities, where in data warehouses fails performing – thus, recommendation engines and fraud detection appears to be a saving grace!

Meanwhile, Kafka-related capabilities in SMM are going on getting advanced and with recently released Hortonworks DataFlow 3.2, the performance for data streaming amplified.

R Adaptability

Similar to its competitors, MapR has bolstered its capabilities beyond its original scope of being used as a mere data warehouse replacement. Early this year, the organizers released a new version of its MapR Data Platform equipped with better streaming data analytics and new item data services that would easily work on cloud as well as premises.

As final thoughts, the horizon of Hadoop is expanding, while data tooling keeps modifying. However, today, unlike before, Hadoop is not only the sole choice for doing data analytics – the choice includes Apache Spark and Machine Learning. All being extremely superior and effective when put to use.

If you are looking for Apache Spark Certification, drop by DexLab Analytics. Their Apache Spark Training program is extremely well-crafted and in sync with industry demands. For more, visit the site.

 

The article has been sourced from — searchdatamanagement.techtarget.com/news/252448331/Big-data-tooling-rolls-with-the-changing-seas-of-analytics

 

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The Big Data Driven Future of Fashion: How Data Influences Fashion

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The Big Data Driven Future of Fashion: How Data Influences Fashion

Big Data is revolutionizing every industry, including fashion. The nuanced notion of big data is altering the ways designers create and market their clothing. It’s not only aiding designers in understanding customer preferences but also helps them market their products well. Hadoop BI is one of the potent tools of technology that provides a wide pool of information for designers to design range of products that will sell.

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How Does the Mechanism Work?

Large sets of data help draw patterns and obviously trends play a crucial role across the fashion industry. In terms of nature, fashion and trends both are social. Irrespective of the nature of data, structured or unstructured, framing trends and patterns in the fashion industry leads to emerging ideas, strategies, shapes and styles, all of which ushers you into bright and blooming future of fashion.

What Colors To Choose For Your Line?

KYC (Know Your Customer) is the key here too. A fashion house must know which colors are doing rounds amongst the customers. Big data tells a lot about which color is being popular among the customers, and based on that, you can change your offerings subject to trend, style picks and customer preferences.

Men’s or Women’s Clothing: Which to Choose?

Deciding between men’s or women fashion is a pivotal point for any designer. Keep in mind, target demographic for each designer is different, and they should know who will be their prospective customers and who doesn’t run a chance.

Big data tool derive insights regarding when customers will make purchases, how large will be the quantity and how many items are they going to buy. Choosing between men’s and women’s fashion could make all the difference in the world.

Arm yourself with business analyst training courses in Gurgaon; it’s high time to be data-friendly.

Transforming Runway Fashion into Retail Merchandise

Launching a brand in the eyes of the public garners a lot of attention, and the designs need to be stellar. But, in reality the fashion that we often see on runways is rarely donned by the ordinary customers; because, the dresses and outfits that are showcased on the ramp are a bit OTT, thus altered before being placed in the stores. So, big data aids in deciphering which attires are going to be successful, and which will fail down the line. So, use the power of big data prudently and reap benefit, unimaginable across the global retail stores.

Deciding Pricing of the Product

As soon as the garbs leave the runway, they are tagged with prices, which are then posted inside the stores, after analyzing how much the customers are willing to pay for a particular product. For averaging, big data is a saving grace. Big data easily averages the prices, and decides a single mean price, which seems to be quite justifiable.

However, remember, while pricing, each garments are designed keeping in mind a specified customer range. Attires that are incredibly expensive are sold off to only a selected affluent user base, while the pricing of items that are designed for general public are pegged down. Based on previous years’ data, big data consultants can decide the pricing policy so that there’s something for all.

The world of fashion is changing, and so is the way of functioning. From the perspective of fashion house owner, collect as much data as possible of customers and expand your offerings. Big data analytics is here to help you operate your business and modify product lines that appeals to the customers in future.

And from the perspective of a student, to harness maximum benefits from data, enroll in a data analyst course in Gurgaon. Ask the consultants of DexLab Analytics for more deets.

 

The article has been sourced from –

channels.theinnovationenterprise.com/articles/8230-big-data-hits-the-runway-how-big-data-is-changing-the-fashion-industry

iamwire.com/2017/01/big-data-fashion-industry/147935

bbntimes.com/en/technology/big-data-is-stepping-into-the-fashion-world

 

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Top 5 Reasons to Feel Excited about Data Analytics This Year

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TOP 5 REASONS TO FEEL EXCITED ABOUT DATA ANALYTICS THIS YEAR

‘Tis the year to be super excited about data analytics! Without further ado, let’s find out why:-

Cloud Infrastructure is Expanding and Fostering Fast-paced Innovations

Considering the recent trends in cloud data and related applications, 2018 is a critical time for cloud analytics. Businesses must steadily transition to a cloud environment and for that a robust and flexible analytics strategy is to be adopted. Through cloud analytics platforms businesses can leverage common data logic and unlock new analytic capabilities to plan, predict, discover, visualize, simulate and manage. In short, what businesses need is a hybrid mode that includes data, analytics and applications spread across multi-cloud and on-premise environments. Research suggests that by employing analytics that are built to work together businesses can increase the total cost of ownership (TCO) by 3-5 times and the return on investment (ROI) can be as high as 171%.

Source: ZDNet

The Power of Machine Learning Unleashed

Machine learning and artificial intelligence have made big progress in the last one year. Hence, automated and AI powered tools are becoming central in decision-making. The rapid growth in automation has profound effect on the way analytics is used. It can be said that machine learning is perking up analytics big time. With the help of automated technologies users can develop contextual insights with ease and uncover patterns from massive volumes of data. And data scientists are harnessing these automated technologies to drive scalable insights for smarter business processes.

Source: Tech Carpenter

The Spreadsheet is Nearing Retirement

The spreadsheet has come a long way since its inception. But, for many businesses it is time to move to better alternatives that are free from some of the inefficiencies and inaccuracies of spreadsheets. For these businesses the solution is shifting to cloud-based models that help connect operational plans to financial plans.

Source: GCN.com

Customer Experience is the Current Competitive Battleground

According to the Harris Interactive study, 88% customers prefer purchasing products or services from a company that offers great customer service over a company that provides the latest innovations. Quality customer experience is crucial for business growth. And for that companies must invest in CEM (customer experience management). CEM technology collects data from varied sources and uses advanced analytics to leverage historical experiences and access data fast. This platform ensures that customers are satisfied, their grievances are addressed and there’s an improvement in sales, profits and brand image.

Source: StoryMiners

Big data Industry to Grow 7 times in 7 years!

Studies suggest that the big data industry in India is likely to become a 20 billion dollar industry by 2015. It is expected that analytics and data science market will grow by 7 times in the next 7 years. Currently, the analytics and big data industry is worth an estimated $2.71 billion in annual revenues and is growing rapidly at a rate of 33.5% CAGR.

Source: Analytics India

Do you know that this year over 16,000 freshers have been hired in the analytics workforce of India? That’s an increase by 33% from last year’s 12,000! Join the big data bandwagon with a professional certificate from this reputed data analyst training institute in Delhi. One of the unique features of this data analyst course in Gurgaon is that it includes trainers who are industry-experts in this field and hence bring with them excellent domain experience.

 

References:

digitalistmag.com/cio-knowledge/2018/01/03/top-10-trends-for-analytics-in-2018-05668659

360logica.com/blog/10-reasons-excited-data-analytics-2018

analyticsindiamag.com/analytics-data-science-industry-in-india-study-2018-by-analytixlabs-aim

getcloudcherry.com/blog/competition-customer-experience

 

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How Big Data Analytics Power Profits for the Hospitality Industry

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How Big Data Analytics Power Profits for the Hospitality Industry

The hospitality industry is highly dependent on customer satisfaction. And the analysis of big data can help this industry predict customer behavior by understanding their needs and expectations. This in turn enables the hotels and restaurants to provide personalized customer service and retain loyal customers.

Hospitality service provider Airbnb is making the most of the new ‘’mobile first’’ approach where responsive designs are created for the smallest screens. This mode allows customers to engage in Airbnb business through phones. Although big data and its analysis is a large part of the success for this industry, many companies are yet to fully understand the gains associated with big data.

Here are some ways how big data enables the hospitality industry to drive profits:

Take better control of business:

Effectively analyzing big data drastically changes how the business runs. The hotel industry is a data rich sector with massive volumes of web, audio and video content. However, many hotels don’t use their data to its full potential. For instance, hoteliers collect loyalty information but few exploit the data for making business decisions. Through analytical data exploitation, hotels can deepen their understanding of the behavior, needs and expectations of guests and develop better loyalty programs.

Customer segmentation and Targeting:

Hotels must use customer data to provide better customer service as that is essential for ensuring that customers return to avail their services again. Analyzing this data is crucial to segment customers based on booking and travel trends, preferences, chance of responding to promotions, etc. Targeting clients with wrong offers can hinder business growth. Data analysis allows them to retain their best repeat clients by good incentives and promotions. It also allows them to build separate deals for customers who don’t visit them often with the hopes of converting them to loyal customers.

Set best prices for rooms:

Big data analytics is very important for setting competitive hotel prices so that it attracts more guests. Apart from setting the best price for rooms, hospitality-driven businesses can optimize the budget for utilities through analysis of weather data and energy rates.

On-time delivery:

As big data tools become more and more advanced, it shall enable better collection of data from traffic, temperature, weather, route and other sources. This will improve food delivery by providing better estimates of time taken to deliver. Moreover, it shall help restaurants understand how all the aforementioned sources affect the quality of food. Thus, it helps to plan the transportation beforehand and optimizes the utilization of resources.

Menu enhancement:

Using the customer data on food preferences, restaurants can build a customer profile that contains their favorite food and drinks. From the data gathered through feedback forms and online surveys, they can identify the most popular items in their menu and determine whether their menu needs to be improvised or completely reengineered.

Hence, new sources of data and emerging technologies like IoT (Internet of Things) and AI (Artificial Intelligence) enable the hospitality industry to understand the current trends in the market and boost the overall profit of the enterprise.

Companies who are embracing the power of big data are reaping huge profits, and students who are enrolling for big data Hadoop courses are earning big bucks! So, unlock your career with a big data Hadoop certification in Gurgaon. And follow DexLab Analytics for the latest big data related blogs and information.

References:

www.smartdatacollective.com/hospitality-industry-emergence-big-data

www.hiddenbrains.com/blog/big-data-analytics-driving-restaurant-industry-towards-profitable-growth.html

insidebigdata.com/2018/08/03/three-industries-profiting-big-data

 

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Tapping Into Big Data for Better Talent Acquisition

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Tapping Into Big Data for Better Talent Acquisition

There are many variables that need to be considered while making hiring decisions. Most importantly, there’s need to fill skill gap. Other factors are candidate behavior and financial aspects of hiring, like cost for training new employees. Big data and analytics help form valuable insights into the job market. Consider the example of IBM acquiring the services of consulting firm Kenexa. It was used to access data of 40 million workers in order to find the personality trait most suitable for a sales job. All kinds of information starting from the workers’ job applications to managerial level was analyzed and it was determined that ’persistence’ is the most valued trait.

Here are some important ways big data helps firms attract promising candidates:

Automate HR Affairs

Talent Acquisition encompasses a wide variety of tasks and when HR teams work in tandem with AI then many day-to-day tasks gets simplified. It helps with tasks like filtering and tracking application status of candidates, getting new hires onboard and making future decisions about employees by analyzing data of previous employees. Data enabled systems saves a lot of time and makes tedious tasks much easier.

Predictive Analytics for Better Hiring Decisions

Hiring professionals need 360 degree information about a particular situation in order to make the best decision possible. They need to analyze everything starting from the human capital requirement in the organization to the economics. Big data enables them to form a clear idea about the skill gaps in the company’s workforce, analyze current trends in the market, follow the financial KPI’s and demographic traits associated with hiring, set the hiring quota and identify the skills and talents to look for in new hires.

Discard ‘’Eleventh Hour’’ Hiring Method

The urgency to fill skill gaps often pressurizes HR professionals to make quick hires, which can be impulsive and not the best. With the help of predictive analytics, these last minute situations can be completely avoided. It allows HR teams to form long-term hiring strategies that align with company goals and also enables them to make timely hires. Using the power of big data, you can be aware of the future needs of your company and job market trends. Hence, it helps eliminate panic situations where you make a hire only to realize later that he/she doesn’t fit the bill.

Social Media for Insights

Big data helps firms attract the right candidates that fit a role. The hard data available on the social media platforms of promising candidates and their search behavior online give organizations crucial information that help them make right decisions. Talent Bin is one of the many employment websites that use information from social media to form insights.

Targeted Job Ads

With the help of analytics, companies can create target groups and rope them in by showing relevant ads. For example, if there’s a financial service provider who enjoys a large talent network interested in marketing on LinkedIn, then they can take this opportunity to post marketing-specific job advertisements. Many potential candidates might find these posts engaging and the company will find the right fit for the job.

Wrapping up, we can say that big data has opened up fresh avenues to make better hires. The influence of big data in every aspect of the modern corporate sector is truly astounding. The smartest candidates are enrolling for big data courses to build skills that sell the most in today’s world of work. For expert-guided big data Hadoop training in Gurgaon, visit DexLab Analytics.

 

Reference: insidebigdata.com/2018/07/20/big-data-talent-acquisition-effective-synergy-make-better-hires

 

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