Rising Use of Data Analytics for Enhancing Customer Experience Opens up Vast Growth Opportunities for Big Data in Latin America - Seite 2

IT vendors need to present successful case studies and demonstrate the advantages of Big Data and analytics to potential customers. Companies need to be made aware that Big Data and analytics will help them identify customers and their purchase habits, segment them, establish better ways to interact with them, and customize offers according to their needs.

Once Internet of Things becomes more prevalent, connecting people and things, companies will also have to invest in analytics tools to glean actionable information from these sources. Alternatively, they will have to find the right partners to benefit from the Big Data being generated from connected devices.

Customer experience is one of the main application areas of Big Data. Verticals such as e-commerce and traditional retail focus greatly on understanding customers' buying behavior, while telecommunication companies focus on reducing the churn probability. For these purposes, these verticals have incorporated transactional and cadastral data into customer relationship management software.

"There will continue to be technological innovations regarding algorithms that will be applied in new use cases and user-friendly interfaces," noted Scalize. "In due course, Big Data will be integrated with historical data warehouses and will go a long way in changing the decision-making process."

Analysis of Big Data and Analytics Market in Latin America is part of the IT Services & Applications (http://ww2.frost.com/research/industry/information-communications-technologies/it-services-applications) Growth Partnership Service program. Frost & Sullivan's related studies include: Web Analytics = Online Analytics = Digital Analytics, OTT: A 5-part Survival & Growth Guide for CSPs, Conversational A.I.: It's A Bot Time for a New Conversation on Customer Engagement, Breathing New Life into Active Directory, and BDA State of the Market: Privacy "You Want Me on Your Data; You Need Me on Your Data". All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.