Everyone is talking about Big Data. Companies are excited about the endless possibilities of what Big Data can do for them and the in-depth insights they now have access to. But few are talking about the difficulties of Big Data – that most companies can’t afford Big Data systems and most are ill-equipped to analyze and act on the vast amount of data.
Proponents of Big Data claim its value lies in giving marketers a better understanding of the things they already know about their customers. This includes data about:
- Customer behaviour patterns
- Customers’ need and wants
- The best products/services for your customers
- How to use these insights to find new customers, markets, etc.
Having access to the wealth of information about these questions would be amazing. But one of the difficulties of Big Data is the time it takes to crunch the numbers, have an expert make sense of the results and then use that to gain insight into customer behaviour. If it takes too long marketers may find that customers have already changed their mind by the time you have the answer. You have to wonder, can’t we get these answers with simpler forms of data? The answer is simple. Yes, we can.
With small data you can do it all (running the data, interpreting the results and gaining insight) with less hassle and in a shorter time. For example, intelligent|view can run your customer data in a matter of seconds. And the result isn’t huge sets of numbers that are difficult to understand. Instead the data is displayed in robust, easy to read reports that give you immediate insights. No data expert is necessary.
Big Data may have big implications, but small data lowers the barrier of entry of data analysis. To give data access to those who need it most – to marketers and business users rather than data and market research experts.