Big data - Whats the Buzz? - Is there any value for smaller companies
. Data today is exploading into every industry and business function. There is the race to tame big data and create value for the organizations that are good at it. Customer information dealing with performance and preferences can now be captured everywhere. Business models can now be updated in real time with a constant view of customer behavior. Narrow segmentation brings the dream of truly one to one customer relationships closer to reality.
While the applications for big data are only limited by ones imagination a few things need to be considered:
One: Will big data take the analysis function away from people and create a completely data driven existance?
Two: How sucessful will the integration of social media (free form text) with pure transaction data to create business intelligence?
Three: Will smaller organizations wake up to the fact that they generate enough information on their own to create competitve intelligence if they are diciplined enough to work at it?
About the author: Chuck Wallin is a 20 year IT and business consultant with an MBA. He has done work with such companies as Barnes and Noble, CHASE, Arrow Electronics, and First Data Merchant Services. His web site www.thecustomerconcern deals with issues of Customer Relationship Management.