Today, data is a powerhouse for generating business and exploring growth. And, the beauty is – it doesn’t do anything unless someone know how to explore it. It is never been so easier to solve business problem and uncover new opportunity in ‘big data’ field. As we know, Big Data refers to the data comes from millions of sources i.e. from social media, emails, surfing, cell phone signals, sales transactions, etc. All these data that can be stored can call – big data. To use these data i.e. big data, for the business purpose, we need in-house big data team or we need a big data partner who can help to collect, store, process, analyse, and provide greater insight for decision support. (more…)
“Big data is only for Big business.” “For leveraging big data, large investment is needed.”
These are some of the myths about big data by which we often come across. Big data doesn’t mean that it is only for big business – and it is not. As we know that leveraging big data is very vital for companies for sustainable growth. Leveraging big data having countless benefits in smaller companies too. But unfortunately many small companies are missing these benefits of utilizing big data because many of them believe that leveraging big data is too costly. But the reality is often different. For leveraging big data, you don’t need to invest a huge money.
In today’s tough competition, big data analytics is playing a vital role in deciding the winner of the market place. Today’s business is mostly centred on the customers, especially retail sector. So, companies prefer to craft personalized marketing strategy according to the changing behaviour of customers. If ‘Technology’ brought big data concept; then ‘Marketing’ used it most for the organization’s growth.