Exchanges around the big data is not new. More conversations and debates can not count on the relevance of these technologies, some are seeing a fad when others perceive a real digital revolution. Now, faced with the massive influx of data of all kinds, time is no longer in question. The “why? “Or” when? “Are no longer topical. It is now and it is in the interest of business.
Last year, the firm NewVantage Partners interviewed 125 people in 59 undertakings, carrying on business or technological responsibilities within their organization. The study shows that investments in big data technologies increase and tend towards a major objective. Better understand market trends and improve decision making.
For this, marketing professionals are privileged. They have access to a wealth of information with customers their predecessors likely would have dreamed. The web, social networks and databases are full of useful information to better understand its market and the new opportunities that present themselves. So companies have an incentive to set an angle of attack to seize know.
To provide a better experience to a customer calls for a better understanding of its behavior, its preferences, these expectations. The more a company has real-time visibility on these elements, the more it is able to offer the service or the right product. The big data provides an accurate view of the state of mind of consumers at a time T. Once the correct information in his possession, a company can finally seek the good leads and improve conversion rates.
Improving the supply
The big data goes even further. By analyzing the opinions, tests, reviews and reports published daily by consumers on the net, it can give valuable clues about the successes and failures of competitors. The company then has very concrete ideas about what works and what does not in its market, even before investing any amount of money to improve its offer.
Anticipating future needs
Major culmination of a big data project: being able to predict the trends that will emerge in the future. Customer needs are changing rapidly and the supply must constantly be renewed. Data analysis brings out the changes in customer behavior that may guide their purchases in the coming months. Innovation is not a gamble but a decision based on facts.
A critical issue for the business
Preventing rather than undergo. Lead the transformation rather than follow it. The big data is an important asset in a changing world and could make the difference between two competing companies. Famous example, Kodak, yet leader of film photography, failed to take the digital shift and was overwhelmed by the competitors who had already anticipated this development. The future belongs to those who will listen, and learn all the lessons.