In the era where online businesses must truly understand their customers’ experience and behavior in order to succeed (or even survive), it is imperative that they can easily tap into Big Data sources and leverage that data to gain critical insight
Big Data is a general term for all information that allows you to understand the purchasing decisions of your target consumers That’s not all. Big data also helps you create a sustainable budget, find the best way to manage your business, beat the competition, and create higher revenue. In essence, big data is all information that helps you grow your brand. The process of analyzing and successfully using that data is called big data analytics.
Where Can You Find Big Data?
This is the big question about big data: where do you find it?
- When you’re looking for data that you could immediately turn into useful information, you should start with the historical data of your business. This includes all information for your business you collected since it was formed. The earnings, revenues, stock price action… everything you have. That data is already available to you. You can use it to understand how your business worked under different circumstances.
- You can use information about the population economy, and products to understand the behavior of your target consumers.
- Facebook’s Graph API gives you a huge amount of information about the users of the platform.
Following are a few points that companies can use when creating Big Data strategies to gain insights from customer interaction, improve customer loyalty, and ultimately gain a competitive advantage.
- Your network contains a wealth of Data in Motion that many companies don’t take advantage of. Harvesting this valuable information is the first step in truly understanding your customers’ experience.
- Embrace your customers for what they do, rather than what you think they’re doing. Stay objective and allow the data to provide insight.
- Blind spots can lead to missing critical information and a skewed overall picture of a customer’s experience. Make sure you truly capture everything that can influence the customer’s experience and behavior.
- After capturing everything, focus on feeding your analytics solution with the data that matters most.
- Customer needs and priorities are always changing. Technology must be agile and able to adjust as well. To ensure that your analysts don’t lag behind, you must be able to adjust the data you capture & process on the fly to meet continuously changing requirements.
- The ability to gain insights into your customers’ experience and behavior in real time allows you to understand what’s happening as it’s happening and take appropriate action steps as needed to ensure optimal user experience and business results.
- Capture the data whether your customers interact with your website/web application from a smart phone/tablet/computer. Enrich that data by correlating it with data that resides in different data stores to make sure you are able to “connect the dots.” Correlate the data as early as possible in your processing to gain complete, accurate and timely and effective insights.
In summary, by making sure the right data is available for effective analytics, companies can find new ways to truly understand their end users’ experience and optimize business results