Big Data: Understand the world of Big Data

Big Data: the hot topic

You have surely heard of the term " Big Data" by now. After all, it has become increasingly popular and many companies claim to have such Big Data. However, as Duke University professor Dan Ariely put it so well: "Big Data is like teenage sex: Everybody talks about it, nobody really knows how to do it, everybody thinks everybody is doing it, so everybody says they're doing it."

Many of our clients come to us saying that they have big data, but they still have difficulties in explaining what it really is and what its function is within the company. Is it a system? Is it a way of doing something? "I don't know, but my company is doing it, because my competitors are also doing it," is what they answer.  

This scenario becomes even clearer in statistics. In 2020, Splunk conducted a survey with some companies about data usage . When they were questioned about the increasing importance that data has within corporations, only 14% of companies say they are prepared for the next advances of the data era, while 86% still looking for resources for this situation.  

Another big concern that companies have to deal with is the volume of rapidly growing information. However, 66% of companies say that half or more of the data they collect is unexplored, unknown or unused. 

So, the big question remains: how do I actually use my company's data?

What is Big Data and how to use it?

Big Data is the technology field that relates to large and complex sets of data, with the goal of processing, storing, and interpreting them.  

Now, the second step is to know where you stand at the moment. Do a self-analysis by following these questions:

• Does my company collect data? How does it do this?
• Do I collect enough data needed to understand my customer?
• Yes, I have a lot of data, but do I know exactly what to do with it?
• Is my customer really at the center of my business strategies?

We are pretty sure that you are seeing the pattern. Many companies are so focused on their core business and on improving and selling their product that they forget the most important part of their business: their customers .

How to improve customer relationships using Big Data?

What will set you apart in the marketplace is understanding your customers' habits, behaviours, desires and needs so that you can communicate with them and create a connection on an emotional level. 

Being a customer-centric company will only benefit you. If you want to understand a little more about this strategy and check data that confirm its importance, check our articles: 

• 12 statistics that show why your company should invest in loyalty (especially in crisis times)
• Customer King
• Customer Relationship Manifest
• Singularity and future of the customer relationship
• 10 steps to structure a loyalty program

The data that passes through your company is your guide to become a fully customer-focused company. his data is valuable because, if treated and analyzed in the right way, it has numerous applications in a company: guidance for marketing and communication actions, personalization, valuable insights, and problem identification. It is important to understand that data is what allows you to know your customer and offer the best experience for them. 

How Indico can help you

We know that this is not an easy task. If it really was, the results of Splunk's survey would have been very different. What we at Indico you to do is: calm down. The process of transforming data into intelligence capable of directing your company's decision making is complex and delicate. 

For this reason, we invite you to get to know Indico's work: here, we transform your Big Data into intelligence, driving your company to achieve better results with actions and strategies focused on the customer. Our team of experts in technology and marketing is ready to convert your data into innovative solutions that enhance the user experience, generate loyalty and ensure real results for your business .

Contact us and discover the Indico way of revolutionizing the market. 

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