How Can Big Data Help You In Your Business | Getentrepreneurial.com

June 15, 2016 ~ knjohn ~ Leave a comment

Data is one of the most important things that your business can possess. It will tell you if your are making the most profitable choice for your company or whether you may want to think about adjusting how you complete a job for a client. What kind of data can be useful when creating and growing a profitable enterprise?

Know Where Your Customers Are

Let’s say that you want to start a grout cleaning business in your neighborhood. While there very well be a market for that, you don’t know unless you have the information that supports your hypothesis. For instance, you will want to know how many homes or housing developments are located in your area.

Facebook Hasn’t Even Begun To Exploit Everything It Knows About You

February 7, 2014 ~ CBPS ~ Leave a comment

Facebook may soon understand not only what we do on the social network, but what we mean. In short, what we tell Facebook is no longer enough. The social network now wants to read between the lines. It’s a critical difference that could have Facebook’s members — and advertisers — using the site in entirely new ways.

Big Data, Small Bets | Forbes.com

December 17, 2012 ~ lmehit ~ Leave a comment

Big data and small experiments—what could appear more seemingly incongruous? Yet the truth is: these two trends, one from the world of analytics, the other from the world of innovation and change, can be powerfully combined to drive sustainable success in a highly uncertain world.

Big data is a product of the technology revolution that is now well into its third decade. Thirty years ago, sophisticated analytical techniques promising extraordinary insights were lacking but one thing: the data to inform them. The promise was clear: if you simply start measuring and tracking everything, from minutely segmented sales and resource usage metrics to every conceivable macroeconomic variable of remote interest, we will be able to identify all manner of relationships, correlations and insights, the net result of which will be the capacity to much more effectively and efficiently allocate resources to take advantage of opportunity and drive results.

The message was received, loud and clear. In fact, perhaps too loudly and clearly.