Collecting, compiling and analysing data intelligently not only helps to gain a decisive headstart over your competitors. Data analyses also reveal new business models and ways to open up markets.
In this way, more precise demand forecasts enable machinery capacity and personnel resources to be utilised much more effectively in industry. Financial service providers and insurance companies can assess and visualise individual risks or detect fraud in its incipient stages. In healthcare, previously unknown causes of diseases or treatment errors can be systematically located. Furthermore, in retail, offers can be heavily tailored to suit customers’ needs and then made available to customers at exactly the right time.
In these cases, big data technologies not only systematically analyse in real time the large amounts of structured data involved in the use of software-based processes and sensors in individual organisational units. They are also capable of intelligently combining the many different data sources within a company, on the internet, and from external data service providers. This networking enables insights that were previously not possible.
Big data tools capture hidden connections in large volumes of data and identify patterns that, for example, allow for precise forecasts.
Technologically, big data analytics is based on a combination of massive increases in data centre processing performance over the past years and many singular improvements in the fields of artificial intelligence and systems modelling. Added to this are significant improvements in the field of data integration. The Internet of Things will provide additional forward momentum in the years to come. The many billions of sensors and machines connected to the internet can be bound together with the help of real-time data analytics and intelligent models to form predictive systems that control themselves automatically.
The fields in which big data analytics can be used are as diverse as the range of businesses. The potential generated for Customer Relationship Management (CRM) and marketing is of interest to practically any business. The CRM can also be more tightly personalised and automated, while product development can accommodate specific growing trends. And on the whole, management has at its disposal much better data for making informed decisions quickly.
For big data initiatives to be successful, businesses must develop the necessary expertise in their respective divisions. One of the key challenges here is to optimally link the available knowledge and experience of the personnel with the analysis capability of the big data technologies. However, a specialist technology partner is generally much more capable of the strategic development and long-term maintenance of the ICT expertise needed for analysis platforms and the integration of source systems than an internal department would be. A company concentrating its resources on professional matters can ensure that big data analytics generates significant findings – "big insights" – that lead to business success.
As your partner in applications for big data, Swisscom of course rigorously complies with all applicable legislation, in particular the Telecommunications Act and Data Protection Act.