The advance in technology is catalyzing globalization. Data utilization is becoming the trend, as the most successful companies are those that rely on data and use it to improve their customer experience. To remain competitive, the international companies are utilizing various types of OLAP (online analytical processing) is the technology that forms the basis for business intelligence (BI) applications. This is a powerful technology that helps in data discovery, complex analytical calculations, and limitless report viewing and other predictive scenarios. Data has been the main asset for some companies as it helps them to understand markets, the consumer behavior among other important information.
Business intelligence is usually based on the data analytics that is done using the right tools and services. The big data are large and comes from a variety of sources. In the market environment where the competition is on the rise, companies are using business intelligence to remain competitive. Companies rely heavily on data because of its analysis as it lets them extract important information that could help direct the company. Multinational companies have utilized business intelligence where data is used to improve their competitiveness. Here are some of the companies that rely on data to improve its customer experience and expand its market.
Airbnb usually relies on data and is a short-term rental site that has helped the big data. It relies on the analytics. The search algorithm is a huge component of the business because the vacationers are able to find the rentals from their neighborhoods. Airbnb has developed probabilistic models that help to determine where other clients are likely to search which makes the search algorithm able to display a given set of search terms. The Airbnb has already begun trying to utilize data to increase their employee ration between women and men through the analysis of the hire data. When the company realized that the majority of the applicants were females, they decided to make a gender blind interview leading to more of them being hired. Thus, through small changes, Airbnb was able to increase the female employee’s ratio from 15 to 30 percent.
Netflix has utilized analytics as it was shipping DVDs and has also ventured successfully in the house of cards. The company is able to use data to determine the kind of media a client will watch and the part of the world the user is. It helps to measure the time taken while scrolling through the queue. Therefore, Netflix has relied more on data to disrupt the traditional movie and television market, which has helped the company stock to go up. Through data analytics, the company has been able to understand its consumers and improved its customer base.
This multinational company is focused on data that make the products better. Through attaching sensors on its products, it helps in the manufacturers to mine existing data. This allows General Electric to get data that help the company to improve on its products through analyzing the emission and fuel efficiency. General Electric is an umbrella organization for all the digital enterprises that helps in the utilization of existing data to make their products better.
This multi-nation platform uses a search algorithm to determine whom a user might connect to their networking site. Its new version is able to capitalize on existing data to help create a better experience for the users. The upgraded version of LinkedIn includes more data about the company, the workers and how to compare previous applications to help decide whether there is need to send an application. The company has utilized data to improve its efficiency and effectiveness to ensure appropriate decision-making.
by: Lee Flynn