The big data industry can and has formed lucrative careers, as more companies are benefiting from the use big data in marketing strategies. For the benefit of those not in the know, Big Data is a culmination of a huge amount of data, that’s constantly collected as we interact with machines and the digital world. From every click of the mouse on a desktop, to the use of Smartphones and tablets.
That means billions upon billions of bytes of data is created every day, most of which is random and non-quantifiable (read: useless without understanding what the data means, and how/which of it is relevant to you). So then, the trouble comes in knowing what to do with the information, how to interpret it and then transform that data into a course of action that could benefit your business. There have been programs made by start-ups aimed to help companies take hold of their databases and make use of them.
There can be much to gain for a company, from utilising such a huge available resource of data. Recognising patterns from various sources, one could gauge a customers preferences when it comes to type of coffee and a favourite for a coffee break, for example, then attempt to up-sell by making discount offerings related to that pattern, such as a free croissant when you buy a coffee after 9:30, for example.
Understanding business data requires analysts who specialise in business data activation, in order to implement marketing strategies that relate to your business and your market.
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