Yoav Chernobroda, CTO, Mythings
What does it mean to be overwhelmed by big data and what are the business implications?
Big Data refers to the idea that companies can extract value from collecting, processing and analyzing vast quantities of data.
The era of big data is upon us and the challenge is for business is attempting to link their disparate data silos with customer feedback data in order to identify the correlations between customer satisfaction and brand loyalty. Businesses who can get a better grasp on this information will be more likely to outperform their competitors who do not.
Unfortunately, most companies face a complex challenge with big data.
A major hurdle in solving this problem involves applying appropriate data federation and aggregation methods across the different data silos.
Big data should serve as enabler for operational, business intelligence, predictive modeling and real time decision making. While big data should be an enabler, it poses some primary challenges including business value, quality of the data, organizational roles, culture, operational & infrastructure.
By linking up these data sources, companies will be able to ask and answer bigger customer experience questions, embed the importance of the customer across different organizations/departments and provide the use of both subjective and objective metrics of customer loyalty.