How Big Data Can Be Leveraged In Business?

by Tony S. Small Business Owner

What Is Big Data?

Big data is fairly self-explanatory. It refers to the analysis of massive sets of data generated by modern digital technologies. Everytime you access the internet, you appear as active. Everything you type, click or view forms the data, and thus leaving a digital trail of information on the net.

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When you shop online, you key in your search terms into the search box. Then, you click into the links displayed on the search engine result page (SERP) and browse through the site to retrieve information you’re looking for. You might even further access the web pages you find interest in and chat with the seller for more details. These series of actions you’ve performed online generate data. When other users are doing the same thing, billions of gigabytes of data are compiled and strung each day. This is what Big Data is .

Use Big Data For Internal Management

Big data offers a computational analysis of data, portraying the patterns, trends and associations of human behaviour and interactions. Firstly, business owners can leverage big data to:

Minimise unintentional hiring bias by neutralising tricky job posting language.
Predict the staff achievement by capturing certain traits on video.
Allocate tasks based on individual’s productivity.
Optimise staff working schedules based on existing structure of assignment delegation.
Improve training strategies based on individual learning preferences.

Use Big Data To Improve User Experience

Business owners can customise and enhance user experience after reading the analysis. They will be able to identify the latest market trend or audiences’ interest. Upon detecting the market opportunity, businesses can find ways to upgrade their products and services or open new lines to fulfill market demand.

For instance, the surge of brown sugar bubble milk in Malaysia since early this year. Businesses from Taiwan started entering Malaysia most probably because they see a huge market opportunity here through the Big Data. People might have frequently searched about this new beverage.

With brief knowledge, how exactly can Big Data help a business in offering enhanced user experience?

Comprehend customers’ purchasing patterns.
Use ex-customer behaviour as reference in addressing rising service issues.
Recognise potential reputation crisis through chat patterns of adverse online users.
Calibrate activities across the organization for the most effective use of automation.

Conclusion

No, Big Data analytics are no longer a patent for larger companies in today’s world. Every business can be advantaged from Big Data. You can better understand customer preferences by layouting a comprehensive data strategy. Not sure how to operate Big Data? Just a beginner?

TED IT Learning is here to help. Sign up for a big data training now!

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