It can be easy to grow cynical about the latest buzzwords in the business world. Smart leaders don’t make decisions based solely on what’s trending at the moment. However, there does come a point when the buzz surrounding a technology turns from hype to reality. This is the case with big data. It has been shown time after time that big data is the future. It is being mined and cultivated in nearly every industry to improve business performance and streamline operations. Big data is proving especially beneficial for enterprises that operate in the worlds of sales and marketing.
Enterprises that deal with sales and marketing have a lot to gain from implementing the use of big data analytics. The amazing thing is that the data is already there for the taking. Not using software platforms that are capable of collecting, organizing and displaying the data you’re already taking in on a daily basis can be a costly mistake. Big Data and e-commerce form a perfect pair because companies can now automatically anticipate future customer behaviors based on past habits. Data can be used to create customer profiles based on past purchases and browsing history. This enables an enterprise to automatically display a page that shows a customer exactly what they want to see. This helps to create a satisfying shopping experience and facilitate a sale. Companies that use data to gain insights see an increase of 83 percent on the return on their marketing investments. Here are some of the ways companies can use big data to enhance the purchasing experience for customers:
Big data doesn’t just work in the cold, impersonal world of e-commerce. A sales team can also use data to prepare for one-on-one interactions and serve clients in the best ways possible. The changing landscape of the retail world means that companies need to be ready to constantly evolve along with the fickle habits of customers. Alibaba recently announced a big plan that focuses on using big data to unify online and offline information regarding its customers, services and products.
Big Data shouldn’t be thought of as merely a sales tool. Data can be used to increase productivity and data integrity internally. All the activities that happen within a network create data that can be monitored, reviewed and acted on to ensure that things are running as they should be. Data can actually be used to create a baseline for activity within a network. This is important because any unusual activities that stray from the normal patterns could be the results of security breaches. A data streaming platform can be tailored to identify and isolate potential threats that are detected. Data can also be used in smaller ways that help an enterprise to streamline daily operations and enjoy the accuracy of automated processes.
The most important thing to remember about big data is that you can implement its use in both big and small ways. It’s true that a streaming platform is capable of absorbing and processing huge amounts of data per minute for large corporations. However, smaller enterprises can use those same platforms to become more competitive and create better service for customers.