What is Big Data and Are You Making the Most Out of It?
Big Data is a term used to describe extremely large sets of data that are analysed by software to look for patterns. Such software is able to check large sets of data for trends and associations. People are then able to find “insights,” which is just another way of saying they have found something they may be able to use, based on the analysis. For example, you may find that there’s a substantial increase in sales of one product over a week after you promote another product intensely. General/human observation may have had a harder time picking up on such a trend, but big data analysis software may help expose it.
Using Cookies on Your Website
Measuring and monitoring the activities of your consumers on your website is not vitally important, but if you have a complex sales/conversion funnel, or your web marketing is multifaceted, then cookies may help put the right information in front of the right people. You could use big data to help you decide which data/content should be placed in front of which people depending on their previous actions and their current interactions with your website.
Monitoring Your Own Staff
Big data may easily be used to monitor your own staff and many companies are using it to identify staff that are misbehaving. For example, if a staff member tries to access certain data parcels that are not needed for his or her job, then big data collection tools, along with business analytic software may help show how your security is being compromised.
Improve User Experience
Getting more people to convert may be a little more difficult than recognizing trends within large sets of data. Some companies use big data to help improve their customers’ user experience. They use consumer data from things such as cookies, but also from email responses, loyalty programs and customer discounts. With this information, they provide a better and easier service, and they do things such as present users with products that other people like them have purchased.
Customise Promotions Based On Your Big Data
Many companies customise their promotions based on their sales, but it can be done using big data too. For example, a promotion based on your best sellers is handy when sales are a little low. But, what about the product that people keep searching for on Google, getting to your site, but then not buying? Maybe your prices are a little higher than those of your competitors? Maybe if people bought your product at a discount, they would see it is superior to your competitors and return to buy again.
Collection Is Only Part Of The Process
Some companies get a little too hung up on collecting data to the point where they have severs full of information they cannot use, but are afraid to delete just in case it is useful. You need only worry about collecting relevant data you can use, and do not be afraid to add cookies. Most people have high speed fibre broadband from companies like Hyperoptic and great internet bandwidths that mean you can add more to your website than ever before and it will still not affect peoples’ user experience.