Managing Data Quality Matters Big Time for Businesses

Posted on: July 6th, 2017 by nexstepaz No Comments

Big data is something that most major companies have been interested in for a long time. It’s the data of the masses and when processed properly it offers a lot of insight into how customers think, what they want and how to react to the market overall as a business.

It’s better than asking people what they like here and there, because it’s asking a massive group of people what they like. The results from big data research are proven to be more accurate when implemented properly, and those results can make a business much more profitable without increasing the work that needs to be done in any measurable way.

Find out What Customers Really Want

One thing business owners are beginning to realize is that it really pays to get inside the heads of customers working with the company. It’s important knowing what items are being purchased by consumers or what services they’re using, but it’s even more important knowing which items or services are being purchased together. That’s why many stores today are relying on some sort of bonus card system, the cards track purchase data and figure out which items are being bought together.

Tap into External Data

While most companies today are tapping into their own internal data as much as possible to help with making important decisions, few companies are tapping into data outside of their own business. Through social media, survey companies, inventory specialists and other independent companies like Nielson it’s possible to obtain important consumer data outside of your own industry or your own store.

Consider investing in independent data to learn even more about potential buyers that aren’t already using the services of your company. This data is particularly important because it could help figure out how to draw in new consumers to the company other than the ones you’re already serving.

Data Quality Matters Big Time

Now that computers are more powerful and processing big clusters of data is much more affordable than it used to be, many companies are going through as much data as they possibly can without any real regard to quality itself.

This is a pretty major mistake that could actually be costing the company a lot of money. It’s a good idea to process as much data as possible, but only when that data is high quality and proven to be from relevant sources. Processing a bunch of junk data will ultimately end in junk results, which simply isn’t worth the investment.

Crunch Numbers in the Cloud

Super computers and massive server rooms were once necessary to gather and process large data sets. That’s not the case any longer though. Now business owners can buy a simple subscription and use that to handle all their data needs. With a big data subscription your business can process all that information coming in and pick out important trends and patterns to help with decision making. As long as the data being processed is relevant and it’s from a high quality source, it can provide important market incites that help your business figure out what products and services to start offering, and how to market to additional consumers.

Find a Quality Big Data Service

Today it makes no sense to store big company data locally or to worry about processing all that information in-house. There are too many companies that specialize in just that, and that can do it for less money than you can locally. Save the money it would cost to set up your own server network, and invest in a high quality big data cloud service instead.

Send a stream of company data over to the service each day or each month and do all the data processing there. With this setup you’ll only need a few big data specialists at your company to handle all the data acquisition and sorting instead of a large team of tech experts to make it all work. This is a huge cost saver and will only help to make your company even more profitable in the long run.

Big data is a worthwhile investment, but only when you do it properly. Contact Keyed Communications to work with a professional cloud computing provider to handle all your information within secure data storage!

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