With Big Data databases, enterprises can save money, grow revenue, and achieve many other business objectives, in any vertical.
- Build new applications: Big data might allow a company to collect billions of real-time data points on its products, resources, or customers – and then repackage that data instantaneously to optimize customer experience or resource utilization. For example, a major US city is using MongoDB to cut crime and improve municipal services by collecting and analyzing geospatial data in real-time from over 30 different departments.
- Improve the effectiveness and lower the cost of existing applications: Big data technologies can replace highly-customized, expensive legacy systems with a standard solution that runs on commodity hardware. And because many big data technologies are open source, they can be implemented far more cheaply than proprietary technologies. For example, by migrating its reference data management application to MongoDB, a Tier 1 bank dramatically reduced the license and hardware costs associated with the proprietary relational database it previously ran, while also bringing its application into better compliance with regulatory requirements.
- Realize new sources of competitive advantage: Big data can help businesses act more nimbly, allowing them to adapt to changes faster than their competitors. For example, MongoDB allowed one of the largest Human Capital Management (HCM) solution providers to rapidly build mobile applications that integrated data from a wide variety of disparate sources.
- Increase customer loyalty: Increasing the amount of data shared within the organization – and the speed with which it is updated – allows businesses and other organizations to more rapidly and accurately respond to customer demand. For example, a top 5 global insurance provider, MetLife,used MongoDB to quickly consolidate customer information from over 70 different sources and provide it in a single, rapidly-updated view.
