Big data is used to refer to a collection of various data sets; mostly very large and so complex that are mainly beyond the ability of the common software tools thereby giving it a characteristic of not being able to process such information by the help of simple on-hand database management tools or some traditional processing data applications that aid in the main processes of data capture, storage, curation, data sharing, searching, its analysis and even the visualizations within the required time frame. And since the this has proven to be bit old fashioned a new trend to shift to some larger datasets is being embraced, this has been necessitated maybe by the analysis of a single large set of a related data which results into some larger data set, as compared to separate smaller sets that can hold the same amount of data.
According to the MIKE2.0 methodology, big data is defined as per the usefulness of the permutations of data sources, the difficulty of modifying the various individual records and even the complexity in their interrelationships. This in general has triggered a particular trend in business referred to as spot, it has also necessitated more quality research, on the on the hand it has as well helped fight or combat crime internationally and even link legal citations and it has helped real-time conditions of traffic on the roads, thereby creating various job opportunities.
Big data has proven to be of great importance and significance in improving and boosting businesses, has a result it’s been seen increasing jobs for information management specialists has their demand has gone up drastically, with the developed economies making good use of the various data incentives in offer for example, its estimated that there are approximately 4.6 billion mobile phone users globally and 2-3 billion of this are using internet services therefore proofing that this has boosted various businesses globally. Whereby, with the effect of an e-commerce surge, there has been experienced a rise in acquisition activity coupled with the drive for harnessing information as well as increasing collaboration whereas using big data as a catalyst in driving large enterprises to higher levels, there its used not only for its intended analytical purposes but also as a means of increasing intra-enterprise coordination.
As per a recent survey it has been noted that, most customers more than before are more enlightened thereby posing a great challenge as whereby they create their own paths and touch points, bobbing and weaving as they discover, research, buy and evangelize products and services. For example with the introduction of the parallel programming age being termed as the “industrial revolution of data” most of the data is and will continue to b stamped out by machines. Whereby these machines generate data way too faster than people can and in return grow their production rates greatly. With such discoveries, “big data approaches to parallelism is going to provide the key to keeping other sectors of the software industry on track”, Hellerstein J.
Another advantage being experienced with the use of big data is when customers doing online business receives instant responses when buying and paying for such services, whereby the customer’s online transactions, responses to the efforts of the digital marketing and the usage of the products and or services streams in live and in real time, it’s also worth noting that various E-commerce channels generally increase the depth of the available data in regard to transaction (or any point of interaction). As a result when the cost of managing e-channels are lower this enables enterprises to offer its services and goods to a wider choice of individuals or partners as such there is up to about 10 times the quantity of the relevant individual data collected thereby increasing the overall data volume of data to be managed. Therefore with an expanded data management options there are greater returns on information assets and this is a possibility since previous projections have been possible.
Therefore, this expansion in data storage and organization will make it easier to analyze what kind of data or message a particular customer requires, this will be made possible since any sufficiently fashionable technology users have expectations that the flow of data management in a market place should yield solutions which can consolidate the multiple techniques and solutions being generated. This can best be achieved when enterprises view previous customer or market trends in order to know the status of their information supply chain. This is aided by use of the already existing market automation tools that have opened the market to accept the ideology that no two customers follow the same customer, and with this is mind the various business enterprises will have new ways of responding to customers on the kinds of messages or information they need.
Various marketing strategies have been and are in use for a while now, like the viral strategy which refers to a technique of using already pre-existing social networks and related technologies so as to increase brand awareness or as a marketing strategy. It known to work almost the way computer viruses work but it’s due to be overtaken. And according to a research conducted by Google in 2010, consumers needed 5.3 sources of information before making a purchase, but a year later this had changed and in 2011, they needed 10.4 sources, meaning in less than a year the reasons that customers needed to make up their mind had doubled. With this projection in mind, therefore companies will soon start to fight on how best to pass on information to their customers in 2013. Therefore information managers may be tempted to put their focus more not only on volume but also on customer needs, data variety and velocity and generally plan for all dimensions of information management while taking into account a relatively high degree of information control and coordination so that the big data opportunities don’t end up as big data chaos.
Since customers nowadays are more suspicious and curious this necessitates the need for corporate to ensure they provide very reliable data by tilting their marketing objectives in a way to be more like they are helping the customers than selling to them, this is boosted more by another research report by Transparency Market Research forecasting that big data market will reach $48.3 billion in the next 5 years from the current $6.3 billion as at last year. Therefore companies need to serious review their strategies in marketing.