There is no question or debate about it: now is the era of Big Data. As hardware that creates, shares and stores data becomes more ubiquitous and easier to use, the amount of data increases at rates never before thought probable or possible. The big question in 2018, for many companies, will be: how do we put this incredible volume and variety of information to the best possible use?
Here are five important tips on surviving and thriving in the age of Big Data.
Be proactive and unconventional in how you tap into new data
Regardless of what the product or service you sell is, it is now possible for you to learn about and study the habit of your target demographic in ways never before imagined. The companies that are left behind are the companies that do not realise this potential. Accrue data that would appear irrelevant to your business but is relevant to your customer. Consider buying habits, consider income, consider online activity, and use it to create new avenues for interacting with your buyer.
Focus on data organisation, not just data gathering
Actually finding the information is not going to be a problem for most companies with any knowledge of technology. The trickier part is going to be actually organising it into a meaningful, unified whole. Integrate information of all sorts and concentrate on how each piece of data might affect another, as oppose to simply holding on to a number of large ‘data ghettos' filled with unrelated data.
Get trained employees to deal with large quantities of information
Dealing with Big Data is not something every member of your workforce will be able to do. This is why you will have to make sure you have people in your company that are trained in analysing information and putting it to use. This is a highly skilled capability, so do not assume just anybody can do it.
Don't be afraid of creativity
These days, it pays to stand out from the crowd. Every company has a website, Twitter presence, Facebook page and a profile on whatever other social media hangout is hip this week. How many of them are using these platforms to truly do something different? The inundation of information now available gives you all the tools you need to make yourself different from the herd. Be willing to strategise differently and make the most of the opportunity.