The use of ‘Big Data’ has become implemented across all types of industries. Finance, Products, and Communications are at the forefront of automation and innovation. Marketing is part of these three industries and automation has allowed small teams to keep tabs on their email, social media, print, and landing pages.
As more people join the internet and click, type, and ponder, they are generating their own digital footprint, and data is being created. We had 44 million people on the internet in 1995, and two decades later we have 3.4 billion. That’s 3,400 million. Now think that every click someone does is a single data point. Now imagine harnessing all those data points. Now the struggle is what to do with this vast amount of data that each one of these people creates on a day to day basis.
We now have data management, automation, and artificial intelligence. One focus is predictive analytics and foreshadowing the future by harnessing the trends of the past. Amazon has revealed how they can do this on a global scope and be wildly successful. They look at purchases, wishlists, searches, and customer reviews to try and figure out what you are going to by and when you’ll want it.
Now a trillion dollar company has the infrastructure to do that, but what about the local restaurant, software company, or residential real estate firm? They now have their data from each click on their Instagram, Twitter, website, or search engine, and access to much larger datasets within their industry.
Now they can use AI and data management to create automation and directions for their company. Automation allows for prediction and correction. It just needs data scientists to put algorithms into place that is accurate and can discern trends. These companies will still use service providers, but they can now do it all in-house.
Imagine the power of real-time insights streamlined and channeled for you and for your business, where a couple clicks could give you exactly what you are looking for and when you need it. It would improve business processes vastly and increase your competitive advantage.
Imagine if your business could definitively answer the following questions:
- Which programs should we focus more on or cut back?
- What accounts are going to churn and can we see at what point they are most likely going to plummet or ripe?
- We’re a month into this quarter, am I going to make it?
- Of all the account I have, what should I tell sales to look closer into?