Whichever industry or sector you work in, or whatever your domain, you must have heard the word “data” that is transforming the face of the world. Today, we are heading to digitization and overloaded with information, every day; we create 2.5 quintillion bytes of data- this data comes from everywhere.
Hence, it would be an important topic to discuss, boost the organization’s revenue, develop a more efficient product, or increase clicking ration for those targeted ads you keep watching on the web. Big Data has already created a buzz in the past few years and will continue to dominate in the upcoming years. It is currently the most valuable asset for every company across the world.
As big data is trending, enterprises are implementing it to their operations because it has the potential to take the organization to another level. Probably, this is the reason why big data is essential, especially for eCommerce and digital marketing companies.
Every large organization has a huge amount of data every year, if these data are optimized properly, will give you meaningful insights that can be used by enterprises to increase their revenue, reduce their administrative cost, operational cost, etc. So, Big Data is very important for the business.
Big Data Means Better Business
Big Data is indeed a revolution in the field of information technology and data science. Along with the technology, if we talk about the entertainment industry, it can be used to predict the success of a movie by reviewing the customer’s feedback from trailers and hype created on social media.
When information is effectively analyzed, processed, and captured, companies are able to make decisions and gain valuable information about their business, consumers, products, prospectus, etc. that can lead to an improved product, increased sales, round the clock customer service and better lead generation.
The use of Big Data technology by companies is increasing every year.
Processed data can be useful to design future strategies and immediate changes; credit goes to predictive analysis and advanced data science. If you correctly harness the data, it will help you to achieve better, more realistic decision-making and improve customer service.
By executing new Big Data technologies, companies can respond quickly to the customers, and it allows a business to take a prompt decision that can be advantageous, improve overall performance and provide ready solutions for complex problems.
Big Data & Digital Marketing
The world is becoming small nowadays and digitized. The socio digital era has made marketers work more and start taking benefits of digital marketing and technology to convey their messages to customers. This generates lots of data that customers can utilize to make the right decision with meaningful insights.
Digital marketing and social media are big data. It is a good concept to learn because if you want to run a business successfully, you need to understand how big data can be used in digital and social media marketing to stay ahead in the race.
If a certain brand or eCommerce website offers you a suggestion of their products that are customized, for instance, you are delivering food online using the food delivery app like swiggy, you can quickly identify customer’s likes and dislikes, so they will not choose any other provider over you. Useful insights will help in making custom-made communication channels with the customers; it increases customer loyalty and retention ratio.
Netflix Uses Big Data To Provide Tailored Customer Experience
Netflix has started to leverage the BigData solution to gain a competitive advantage. To increase the viewership ratio, Netflix is continually analyzing and adopting new trends such as:
- Increase subscription
- Offering trending content to its consumers
- Devices its customers are watching shows on
- Whether a viewer watches a half movie, seasons of a series, or complete shows back to back on the weekend.
For many entertainment industries, enterprises, Big Data is a powerful weapon to attract customers, generate revenue, and understand the kind of content to serve as it relates to location, timings, demographics, and opinion expressed on social media. Big Data through Netflix is able to deliver particular content to the right customer whenever they want it.
Usage Of Big Data In Different Sectors
Amazon, the leading eCommerce company in the world, uses big data to understand the choices of customers and provide suggestions on the basis of their past browsing history. Not only from a purchasing point of view, but companies also look forward to the analyzes of customer data from different sources. All this is made possible through the implementation of big data.
The education sector is also leveraging big data to present better solutions. With modern technology and the way of living, the need for developing the education system is highly affected by big data. The advanced grading system, career assistance to students, and presenting new learning plans are some great examples of it.
Another highly affected industry is travel. It takes care of everything that the customer expects from them. A company like MakeMyTrip is highly using big data to provide better, personalized offers and recommendations to their customers about different places.
A combination of human and artificial intelligence with the power of big data is a powerful technique towards developing smart and revolutionary insights that can transform the face of business. Today’s customer is smarter, savvier, and more empowered as compared to earlier. Hence, Big Data is important because it encourages organizations to make effective decisions.
Today, to attract the customers and earn the trust of your audience, you have to connect with them in an innovative and personal manner. With the help of useful insights available at the single click of a button, brands, and enterprises who use big data to their benefit will be the ones that drive long into the future.
Big data plays a vital role in digital transformation, allows brands to optimize their existing strategies and stay ahead of the competition. It also will enable brands to eliminate problems before they arise and provide better solutions. On the other hand, if you fail to embrace big data technology, results would be disastrous.