Big data lies at the heart of making data-driven decisions. Datasets that satisfy at least three of the five V’s (Volume, Velocity, Variety, Veracity, and Value) can be characterised as Big Data. As educational institutions race to be kept abreast of technological advancements, they are inundated with big data on a day-to-day basis. Big data holds immense potential for educators, offering insights to personalise learning, identify struggling students, enhance teaching methods and improve overall educational outcomes. However, successfully implementing and benefiting from it requires careful planning and execution. This blogs explores the various opportunities and limitations of big data in the context of education sector. Furthermore, it provides clear and actionable steps to get started on your big data journey.
Driving new revenue streams with data analytics
In order to both acquire and retain customers, it is integral that businesses harness the insights of their customer data in order to make precise business decisions. This process is commonly regarded as data monetisation. In today’s society, however, possessing only one or two sources of revenue is sometimes not enough to support a fully fledged business. It is thus important that your business uses data analytics to expand its niche by providing new services, which will ultimately result in increased streams of revenue as well as funds. In this blog, we will discuss the importance of generating new revenue streams through data analytics and some steps you can take to perform this.