More and more industries are steadily using and investing in Big Data. In fact, as per a recent study, almost 80% of Fortune 1000 companies have stated that their Big Data Investments have been successful.
Big data isn’t just being used for cost-cutting and operational efficiency, but it is also being used in innovative ways.
For instance, data from UPS (an international courier service) was analyzed and it was realized that if their drivers took only right turns (and limiting left turns), they would see a large improvement in fuel savings and safety, as well as reduce wasted time. Once it was practiced, it resulted in UPS saving up to 10 million gallons of fuel and avoided the emission of 20,000 tons of CO2 emission in a year.
Sources of data can be multiple; it can be from sales, enquiries, HR, social media, etc. But the primary responsibility for any company using data is to treat it as an asset and moreover get the right people and embark on a data driven culture