Why Big Data?

Today you can track almost anything. With more online activity than ever, a user’s journey can be quickly followed as they log in or register to websites, filter products, select preferences, and provide addresses and credit cards. With a direct interaction, you can now produce a large amount of structured and unstructured data, including demographic details such as age, sex, geographical area, and income, as well as psychographic information such as preferences, values, and the motivations which drove them to select specific URLs or products. Having this kind of information has considerable advantages to any business, and here are some reasons why.

Big Data Is Fast

The internet offers so much information giving users the ability to move from one URL to another as they compare products or services, ask for recommendations, and look for opinions.

Thanks to technology, a business can track this information to create strategies for accessing current users more frequently and converting more individuals into users.

Big Data Tracks Variety

There are endless options to use in parallel tracking. A business can track how users look on one URL and compare prices or offers on another. In another browser window, a user may look for recommendations on a blog or study reviews. This information also comes from different sources, including social networks and videos. Most users jump from one piece of information to another, widening the possibility for businesses to find large amounts of data by uncovering hidden patterns, correlations, and other insights, including changes in a user’s lifestyle and past and current preferences. 

Big Data Creates Better Business Decisions

Big data analytics helps organizations use past and new information to discover similar patterns that can influence business decisions. For example, businesses can find the best and worst selling periods, organize production and distribution better, discover new ideas for products or services, all while efficiency saving time and money. Businesses can use strategies based on experience and intelligent market forecasts to be smarter when making data-driven decisions and moving forward with more efficient operations.

Big Data Identifies New Business Opportunities

Using data-driven information, businesses can create differentiating plans by examining the contrasting patterns it presents. The data can reflect users’ needs or values but also show a lack of providing specific needs. Businesses can also discover niche markets or ideas for new products or services.

Using Big Data analysis is a proactivity approach to user-centric personalized strategies. With the ability to track users, it offers insight and options based on factual information. If you would like to learn more about how Big Data can help your business grow, contact Blake Patterson at 502.907.6593.