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What Exactly Is Big Data And How Can You Use It to Generate Sales?

By Darren Pierce on Jun 12, 2014 6:00:00 AM

What Exactly Is Big Data And How Can You Use It to Generate Sales?

Big data.

We keep hearing the term.

Big data this and big data that. If you’re not leveraging big data, your business is falling behind.

But what exactly is big data, and how can you leverage it to make more sales?

That’s what we’re about to talk about.

What It Is

Put simply, big data is the entire pool of digital information that is available to an organization. With so many robust analytics tools now readily available, that data pool has gotten bigger and bigger because we are learning to collect more and more data.

Every minute there are 2,000,000 Google searches, 685,000 Facebook updates, 200 million sent emails, and 48 hours worth of video uploaded to YouTube.

Every minute!

That’s big data.

Why It Matters To You

Businesses can use big data to make observations, answer questions, and support strategic decisions.Big data provides answers to questions like Why do customers come and go? and Are they buying more during certain times of the year?

You can observe consumer trends and even track what they’re saying about you across the social networks.

Big data provides solutions to many different problems. Your competitors are using it, so you should be too.

How You Can Use It

First of all, big data isn’t just for “big” companies. There are plenty of vendors out there that can help you leverage big data, even if you’re a smaller business.

To leverage big data in a way that will impact your bottom line, you have to understand what your goals are for big data and how those goals integrate with your overall marketing efforts.

It’s hard to say exactly how you can use big data because there are so many possibilities and each business can use it for very specific tasks. The best advice I can give you is to create goals, create a path to those goals, and then stay on the path you create.

If you know where you want to go, managing big data is a lot less daunting.

Okay—enough talking about big data. Let’s start leveraging it.

What else do you have to add about big data?

Share your thoughts, ideas, and articles in the comments below!

Darren PierceFounderetailinsights

Image: Flickr

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Written by Darren Pierce

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