How do companies successfully use large data? Make decisions based on facts, not intuition

Large data terms refer specifically to the various data channels and sources of information faced by enterprises in the 21st century. As the digital field begins, these different channels are becoming more and more, generating more and more data than ever before. In a broader sense, large data is simply an integral part of corporate marketing (i.e., market research and analysis).

Large data can help companies determine their customers ' needs, preferences, and desires, and help them understand how to meet these different needs, quirks and characteristics. If companies can successfully analyze these data, they will gain more competitive advantage from these data analyses than their competitors. If the enterprise can not be very good analysis and use of this data, then more data is not used, enterprises can not use the data to make the right decision.

The question, however, is how to maximize and make better use of large data? The answer to this question is varied, but in general, if companies can follow these basic principles, they will be better developed.

The biggest benefit of data analysis for the enterprise is that it can be based on the exact data to make decisions, rather than intuition. After the enterprise realizes this, the enterprise will take the concrete step to satisfy the enterprise demand, namely the customer demand, the internal demand, the logistics demand and so on.

Data analysis can help guide business decisions and analyze data to help companies decide whether to continue to provide a product or service, based not only on sales figures but also on customer feedback and needs. The sales figures are relatively low, and the demand for social media platforms is high? Perhaps this means that the product is selling poorly or is above the acceptable cost of the market. Large data can provide this insight, but also can help enterprises identify problems, and solve problems, leading enterprises to success.

When it comes to social media platforms, 21st century's big data inevitably includes customer data from a variety of social media outlets, such as Facebook and Twitter. If an enterprise can make good use of this data, it will be able to derive benefits from it, including financial aspects or customer loyalty. In other words, if the enterprise understands the customer's needs, the customer is almost certain to become a purchaser.

Wireless carrier T thinks social media data is invaluable. Recognizing the unique opportunities offered by these platforms, operators are actively involved in social media and are trying to listen to their customers. Perhaps more importantly, operators can make adjustments to their services and products when necessary, based on these feedback. In June, T launched a marketing campaign for the new LG G3 device, during which time they sent a device to social media followers every day. The expense is small for the company, but it brings high marketing effect to the enterprise.

While it is useful to analyze large data, it is important to remember that actions taken by businesses based on these data can ultimately have lasting effects. If companies are stuck in data analysis, research, and data collection, it's easy to trifles. If the enterprise does not take action and measures based on these data, the data is only data and will not bring any beneficial effect to the enterprise.

If your business is starting to accept big data, make sure it is fast and simple. You should collect and analyze data as much as possible, but don't let it be the focus of your business. In addition, enterprises should invest in solutions to achieve a degree of automation, not only in data collection and analysis, but also in the implementation of operational procedures. If demand for a particular product rises or decreases, companies can deploy computer software and automatically adjust the price of the product based on that data, which can help companies achieve future flexibility and freedom.