Big Data’s big potential
Too much data on your hands? Here’s what to do with it.
Ever felt like you’ve had all the data you need but haven’t used it to its full potential? One of the many problems a company faces after collecting intricate data on their customers is accessing that unlimited quantity of data with speed and ease to give a powerful actionable insight. Furthermore, some large companies have their data imported from a different source system that makes it even more difficult and time-consuming for multiple internal stakeholders to access the shared data.
What can we do about it?
I’d recommend that you start from the start.
Usually when a company finds themselves in this sticky situation, instinctively they’d go for quick wins to help lower risks. Fortunately, implementation of pilot projects also have their benefits… they help satisfy the instant gratification that stakeholders crave when they find themselves having too many irons in the fire. Pilot projects help demonstrate what the big picture will look like in a smaller scale. With the data team focusing on building a feasible analytics program to share a common goal with the digital marketing team, it won’t be long until the business’ objectives are met. Moreover, the digital insights gained from conquering pilot projects turn into transferable skills that allow analysts to make better decisions, faster.
Apart from the grand master plan of building a reusable framework for the company, maintenance of the new design should also be followed. Data cleansing should occur at every stage of the process so that format is consistent for all users and use cases. If not maintained, you’re pretty much undoing all your effort. Managing metadata right from input to output not only promotes efficiency but also allows internal stakeholders to access data and make appropriate decisions at any stage of the process. (If you haven’t already noticed, Big Data is your diamond in the rough). Lastly, why not set yourself up with an analytics dashboard platform like Tableau so you can easily pull forth data to make better, more relevant decisions? On a side not, you’ll also make your analysts have more fun at work with this very cool tool!
Why does this matter?
Well, you want your business to grow, don’t you?
As we continue to discuss not using Big Data to its full potential, might I highlight the benefits that your company is missing out on? Data-driven strategies allow tailored analytics to support or veto a digital campaign that you’ve been wanting to execute so badly, enhance Real-Time Personalisation so that clients go ‘WOW’ at your individual-level customised website and even provide forecasting to areas in your business that you didn’t know needed revamping!
Big Data will help your company grow but only if you know how to maximise its potential. Don’t worry though, you’ve got all the resources, now all you need to do is make use of it!