Product managers and engineers use big data analytics to discover patterns in user behavior to test new features, improve product adoption and increase monetization opportunities.
The secret to identifying new revenue streams lies in analyzing current product usage and creating data-driven products or services from those insights. Combining customer purchase data and log data can predict when a server might run out of storage or memory capacity before it actually happens. Open the door to a new revenue streams such as a predictive maintenance offering for your company.
Consumers interact with companies through many interaction points which dramatically increases the complexity and variety of data types you have to aggregate and analyze. But by doing so, you can quickly identify your high-value customers, what motivates them to buy more and how and when to best reach them. Armed with these big data insights, you can increase customer loyalty and satisfaction.