Data is increasingly defining our culture. How so? It’s pretty simple really. The information that we share on the web is constantly being collected and mined by all sorts of organizations that use that specific data to interact with us and market to us, among other things.
Data, and especially big data, has become very important to companies of all sizes. Storage, security, and accessibility are all major factors to consider when these companies decide to outsource IT like big data. However, more and more businesses are discovering that big data can also help them achieve their goals from a marketing and monetary standpoint. Below are five ways that big data can help any business succeed.
1) Big Data Helps You Understand Your Customers
69% of customer demographics are generated by insights from device-generated outlets and social media outlets.
- Your smartphone, PC, laptop, and tablet all serve as data-harvesting tools. The same goes for social media like Facebook, Twitter, Facebook, and others.
To help understand your customers and their behaviors better, analyze:
- Social media data
- Browser logs
- Trending keywords
- Tracking metrics
2) Big Data Helps Your Business Optimize Processes
75% of executives cite the need for improved cost performance as the most important driver of big data investment.
- It comes down to dollars and sense, really. The main goal is that your business can improve efficiency while spending less money.
With big data’s assistance, you can optimize business processes with real-time data such as:
- Geographic positioning
- Live traffic data for deliveries
- Radio frequency sensors
Optimizing your processes streamlines everything and allows you more time to plan your strategies instead of taking valuable time to simply compile information.
3) Big Data Helps You Personalize Experiences
87% of executives agree that capturing and sharing the right data is important to effectively measure ROI.
- What is the “right” data? It’s a combination of not only what you know, but who you know. And, the more you know about both, the better off your business will be.
Make data personal by using it for customer relationship management (CRM) like:
- Tailored advertisements and emails
- Real-time cross-sell recommendations for ecommerce
- Support services
4) Big Data Helps You Create Opportunities
The market research firm IDC forecasts big data market growth from $3.2 billion in 2010 to $16.9 billion in 2015.
- Businesses are learning that IT services like big data are crucial in determining future strategies in the realm of research, development, and marketing.
- The money that is saved by outsourcing these types of services allows businesses to spend it in places that are more important.
The abundance of data that is available can be used to gain insights and increase offerings to customers like:
- Competitive analysis
- Pattern-based strategy
- Transactional data sharing
- Context-aware analytics
- Demographic segmentation
5) Big Data Helps Improve Security
90% of organizations have sustained at least one data breach in the past year.
- Cyber thieves are becoming increasingly advanced and are constantly looking for ways to steal and retrieve valuable and confidential information.
With an influx of useful data comes the responsibility to keep it safe. Businesses rely on IT professionals to protect their data through:
- Cloud services
- Network connectivity
- Managed security
Big data in recent years has lent itself to much more than simple storage and security solutions. Many businesses are now adopting strategies that not only include big data but feature it as well. Big data was once overlooked but has now become a crucial element in aiding some of the most successful businesses in the world.
Take a look at American Internet Services’ (AIS) Big Data Infographic that was recently posted regarding the same topic. The infographic is an illustrated representation of the current state of big data as well as the benefits of using it.
Image sources: www.travelandtourworld.com and www.akrayasolutions.com