Big data’s revolution is here to stay. Few businesses today dispute the advantages that big data confers to their operations. Even so, breaking down data silos, deriving useful insights from data, and converting insights into actions is a challenge. If companies can capture all data streams, they stand to benefit from big data analytics. In turn, big data assists these companies to leverage customer feedback, keep abreast of business trends, reduce operational expenses, and increase profits. Given that, accessible data analytics and visualization affects business in several critical ways. Below are five ways in which big data analytics and visualization affects business at the macro level.

Enhancing Lean Management Processes

Lean management techniques focus on improving business efficiency and cost reduction. In this way, big data analytics helps improve quality such as in the pharmaceuticals and mining industries. Timely inventory management and waste reduction concepts facilitate compliance to the goals …