Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,228,543 members, 8,079,212 topics. Date: Saturday, 15 February 2025 at 09:13 PM

6 Amazing Steps To Convert Data Into Cash - Science/Technology - Nairaland

Nairaland Forum / Science/Technology / 6 Amazing Steps To Convert Data Into Cash (447 Views)

How to convert your TV To Android Smart TV / How To Import MBOX File Data Into PST? / Convert Your Unwanted Or Used Items Into Cash With This App (2) (3) (4)

(1) (Reply)

6 Amazing Steps To Convert Data Into Cash by Oziidu8080: 3:11pm On May 07, 2020
Convert Data Into Cash

A huge amount of gotten daily, events this big data phenomenon is shifting the global economy towards profitable complex data analysis and management.

Entrepreneurs and huge companies alike are looking into this fact and are finding ways to make such data profitable. It’s certainly

Research from McKinsey&Company says benefits vary across business sectors.

Those poised to gain substantially from this are “the computer and electronic products and information sectors, as well as finance and insurance, and government”.

Other businesses such as retail, online, and offline, can still benefit from it when used effectively.

This article discusses how businesses nowadays efficiently and profitably utilize big data in management, customer/service specialization, product/service innovation, operations, and in creating new business models.

It poses some of the implications of this growing industry to the business sector, job-creating opportunities, and policy-making, including the internet sales tax.

Big Data is taking over the economy, one business sector at a time.

In fact, with the massive volume of data of about 2.7 Zettabytes existing in the digital universe today, it’s projected to become a $50 billion business by 2017.

 It’s certainly creating a buzz; opening up opportunities never thought possible.

6 Amazing Steps To Convert Data into Cash

Management

Through automated algorithms, managers can make better decisions through a more precise analysis of data.

Rather than anticipatory analysis, they generate predictive analysis through hypothesis-testing via controlled experimentation.

With this, they can test which works best with what strategy with minimal to no risks at all.

Customer or Service Specialization

Companies can better reach their target consumers through segmentation.

This way, they see which products and/or services are appropriate with which consumer segment. Facebook, for instance, matches users with features and ads.

By combining...Continue here https://eagleeyes24.com/6-amazing-steps-to-convert-data-into-cash/

(1) (Reply)

Get An Activation Code To Any Course Of Choice On Udemy. / Gate Automation / Once, A Nigerian Somewhere Would Think Like This (what Happened To Us?)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2025 Oluwaseun Osewa. All rights reserved. See How To Advertise. 7
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.