Use big data and data processing for your business success

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Information gathering and processing practices are constantly present in our daily lives, from filling out an online form to using an app that requests your location during installation.
But have you ever wondered in what ways this data can be reversed into relevant information?

Learn about data monetization: The concept of data monetization is basically about utilizing the diverse information provided by users around the world for the quantifiable economic benefit of companies through marketing strategies or developing a new product. / service based on the data collected.

Through data collection and processing, companies can understand the real needs of their customers and also how to develop good strategies based on information such as personal data, purchasing power, location, interests and even musical tastes.

Data from Gartner Inc. finds that about 90 percent of business leaders recognize information processing as a strategic benefit, driving new revenue streams, reducing costs, deepening customer relationships and facilitating decision making.

And how to perform data monetization?

The strategy may vary depending on the characteristics of your business, how you contact your customers, and what information you want to collect. Check out some tips that can help you:

  • Data monetization is not just about storing and selling information;
  • Refine the data and seek value from an insight, result, or association;
  • Ensure information security by complying with any security, privacy and data retention policy or protocol;
  • Correct real-time, high-speed data analysis will result in the design of more efficient strategies;
  • Delimit responsibility and access to information;

Gathering information may vary greatly from how you relate to your audience and what information you want to obtain. Some companies purchase information, as well as develop their own means of collecting this data through questionnaires, behavior analysis, location usage, customer searches and various other surveys.

Some examples of companies that work with data processing are: Facebook, Apple, Amazon, Coca-Cola, Tinder, Netflix, Waze and Spotify.

That makes them market leaders in their segments, as understanding the needs of their audience is the key to their business success.

Know the profession that works with Big Data and Analytical Intelligence? The profession came along with the information age, because of the large amount of data sharing, analysis platforms became necessary, as well as qualified professionals to work with this data. Big data and analytical intelligence filter, transform useful information and generate data relevant to decision making. This through exploratory data analysis, artificial intelligence, statistics and probability.

Thus generating the much talked about algorithms, which state the interests of certain users according to the information provided. Working with probability, similarity and development in the possible interests of your audience. Although the development of the algorithm cannot be controlled or explained, as it develops according to the amount of information it receives.

Data processing enables fault identification and facilitates understanding to optimize internal and external processes, as well as the ability to empower staff and detect up-sell and cross-sell opportunities that develop your business.

 

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