How is large data changing the entire business attribute?

Experts say the situation is big data. Its definition is not clear, but it usually boils down to the fact that companies will have more opportunities and ways to get more information than they have in the past, and that they have more information sources than ever before, and they can almost get it as soon as they produce data.

Large data often get links to companies that are already processing information, such as Google, Facebook, and Amazon. But in many industries, companies look at significant data and act as centers of information and operations. They collect a great deal of information, often in a way that is compatible with traditional methods, such as sales of items such as social media sites and mobile device location information. They study figuring out how to improve their products, reduce costs and attract customers.

The shipper uses sensors in the truck to find ways to expedite delivery. Manufacturers can trawl through thousands of forum posts to investigate whether customers will like a new feature of their products. The hiring manager studies how candidates answer questions to determine whether they will be able to collaborate.

Many obstacles remain. Some are technical, but business decisions often have obstacles. In most companies, decisions are still based on the opinion of the hippo ———— the highest-earning people, and it's hard to convince a manager who excels in data and intuition to implement and execute.

In the following ways, companies are using the power of data to change their business.

Human

Employee benefits-especially employee welfare care-can be expensive. Some companies are using big data to get better decisions to deal with.

Caesar Entertainment, which analyzes the medical insurance data of its employees, finds that the data can cover the health insurance for each of its 65,000 employees and their respective family members. Managers can track how thousands of employees use medical services, such as the number of emergency room visitors, and whether they have chosen a generic brand medicine variable.

"This is a very opaque and acceptable business operating cost, usually the personnel manager will not think they can control," said Emily Gaines, Caesar's Entertainment CEO, Caesar's senior vice president of compensation, welfare and human resources effectiveness.

For example, in 2010 the data showed that in the company's property, Haleth in Philadelphia, only 11% emergency measures were considered to be cheaper for emergency medical facilities, a proportion of which in Caesar accounted for 34%. Harrah's team has launched a fight to appeal to employees because of the high cost of ER access and offers a range of alternative facilities. Two years later, 17% of emergency facilities dealt with emergencies, emergency care, and the percentage of individual ER visits dropped from 40% to 30%.

Overall, as Caesar began tracking ER visits in 2009, the 10,000 emergency whole company has been shifted to cheaper alternatives, saving a total of 4.5 million dollars.

Big data is also changing hiring. For example, Catalyst's IT service, a technology outsourcing company based in Baltimore, is primarily responsible for assembly team programming. This year, the company will sift over 10,000 candidates. Not only is the traditional recruitment too slow and cumbersome, the company says, and the subjective choices made by a hiring manager often cause new employees to be substandard.

"You need to be able to build models that can help you take this subjective view," said Michael Baum, founder and CEO of Catalyst.

As a result, catalysts require candidates to fill out online evaluations, and many companies are in these days, the most famous of which is Google. Catalyst uses it to collect information about tens of thousands of applicants and, in fact, can get more data on how they answer questions than their answers.

For example, an assessment may give an applicant a question about calculus, and the applicant is completely unexpected. The response of the applicant to the question--a laborious answer to a question, a quick answer to a question and then a swift return, or a complete skip over it--provides a lot of data on how people deal with challenges.

Some people who need to use their physical energy to solve problems may be suited to the task of requiring a methodical and skillful approach to solving a problem, whereas in another situation a more aggressive candidate might fit in another situation.

The advantage of this approach is that it acknowledges that people have different skills and that there is no job that suits everyone. According to a large number of data studies, a candidate with a specific personality trait must be appropriate in a given situation, sometimes biased, and unable to do anything.

For an effective measure, Catalyst's staff turnover is growing at an average rate of about 15% a year, more than 30 compared with its rivals in the United States, more than 20% per cent compared with its rival companies overseas.

(editor: Heritage)