You may think there’s a complicated explanation as to how big data earned its title; surely “big” can’t be as self-explanatory as it sounds. Believe it or not, this data is exactly what it sounds like. Big data is like any other dataset, except there’s a greater volume and variety of data. If that’s the case, what’s so great about big data? Read on to learn how big data is changing the business world.
Guiding Customer Decisions
In a perfect world, every advertisement your business runs would convert every individual who sees it. While we don’t live in a perfect world, big data makes that possibility more likely. Big data can track and analyze everything a user does when they’re on your website. This can include how long they stay on pages, as well as what they’re looking at and what they choose to ignore.
With enough information, big data can tell you the best way to convert interest into a sale for each individual.
Providing Better Customer Service
Customer service representatives are an important part of many business models. However, these individuals also cost a fair amount to employ and train. Big data can make training easier, or it can guide your business to ultra-intelligent chatbots that can take the weight of customer service off your representatives’ shoulders.
Targeting Via Analysis
Personalization is everything in advertising. It’s easy to create general advertisements that could appeal to just about anyone, but it’s also easy for people to ignorethose general ads. When you speak to an individual’s needs, it sparks interest. Big data can analyze an individual’s digital footprint to tell you the best way to appeal to them.
There are many benefits to utilizing data analytics for your business, but conversions are the most appealing.
Now that you know how big data is changing the business world, get in on the ground floor! You can begin using data analytics to gain useful insights right now—all it takes is a quality data management system.