The very term “Big Data” causes confusion right from the start because it connotes the idea of volume – a lot of volume. But the issue is not really about how much data there is to sift through, but rather how having access to big data can make your business operations faster.
It’s not easy to wrap your mind around the concept of Big Data and how it’s being stored and delivered and all the changes that are coming to help analyze all this information. But it’s also not necessary to grasp all the details.
In the end, the real reason for businesses to access and analyze data – “big” or otherwise – has not changed: you want to offer customers and clients solutions to their problems so that your company is profitable.
Even cosmetic giant L’Oréal, working with Customer Experience Management (CEM) provider Clarabridge, is tracking what is said in real time about its 24 brands. By monitoring website reviews, product reviews, blogs, Twitter and Facebook, L’Oréal USA says it “hopes to be able to automatically route consumer insight to the right people and more effectively engage with its consumers.”
The Teradata Aster Discovery Platform and Pentaho’s comprehensive platform for data integration and business analytics, among others, are working to provide platforms and software that create a multi-dimensional profile of the data collected, rather than flat charts and graphs. These companies prepare and blend data to help create a more complete picture of your business to enable you to determine a more profitable course of action.
Will having a deeper, narrower profile of your customers’ individual needs enable you to expand your product and service offerings or are you content with a broader, more general picture of your target market?
The Mind Commerce report Big Data in Customer Relationship Management evaluates the utilization of Big Data and analytics to optimize and transform customer relationship management (CRM) systems, processes and procedures. The report includes case-studies for CRM systems that are employing Big Data.
By: Brenda Spandrio, Marketing Manager