Social Web TacticsSocial Web Tactics

  • Marketing
    • Reaching Your Audience
    • Content and Website Optimization
    • Effective Storytelling
    • Creating A Strategy
    • Finding the Right Technology
    • Outreach and Engagement
  • Who We Serve
    • Education (K-12)
    • Education (Higher Ed)
    • Government Contractors
    • Technology
  • Insights and Resources
    • Insights and Perspectives
    • Articles and Blog Posts
    • Webinars
    • Research Services
  • About Us
Michael Hackmer
Wednesday, 10 August 2016 / Published in Data and Analytics

5 Important Trends In How Big Data Is Transforming Business

We have all heard that big data is transforming the way we live and how we conduct business.

But how?

And what is Big Data really mean?

Put simply, Big Data is a popular term used to describe complex sets of information that require more advanced applications for processing and analyzing. In order to better store, categorize, access, and visualize large volumes of information, tools are created that help people to extract trends or meaningful pieces of data. And this is incredibly necessary.

When you think about the volume of information available, it is important to realize that it keeps growing at a phenomenal rate. One estimate is that the amount of data available is doubling in size every two years. By 2020, there will be as many pieces of data as there are stars in the universe or 44 zettabytes, which is 44 trillion gigabytes.

5-important-trends-in-big-dataTherefore, one way to think about Big Data is that the systems designed to harness all of the information we produce allow us to tell a story about our lives and interactions that goes beyond what we can see in the raw numbers.

New Frontier’s Equio, for example, is one such Big Data resource that allows people to manage information including data from census records, medical reports and research, government statistics, legislative policies, demographics, real estate data and more, as it connects to the cannabis industry. The power of this aggregated data, coupled with risk management tools, gives people the visual resources required to make well informed business and investment decisions.

What are the important trends in how Big Data is transforming business?

1) Data-driven methodologies will become the norm in marketing and sales. Businesses will more precisely target prospects that are higher value and have a better likelihood of converting into sales. They also will be able to adjust tactics faster, and change marketing and sales strategies that are proving to be ineffective – reducing waste in time and maximizing revenue.

2) Powerful tools that enable people to leverage Big Data will become more available at a lower cost to small and mid-sized businesses. This will allow more businesses to afford Big Data resources and improve their competitiveness in the marketplace.

3) Customer support and retention will improve, because businesses will have a better understanding of consumer habits, needs and interests. This data will allow a business to adopt more personalized strategies for connecting with people and measuring satisfaction. If problems arise, such as a delay to a shipment or a customer complaint is made, data systems will allow a business to be both more proactive as well as responsive.

4) Pricing strategies can be implemented with more than a gut feeling on what consumers may be willing to pay. Using big data tools, businesses can better identify heavy buying periods and shopper trends, monitor potential impacts to their supply chain, and have insight in competitor pricing.

5) Prediction of future opportunities or challenges becomes easier using Big Data. If you know that legislative changes are coming (new taxes, buyer restrictions, or opening of specific markets), you can plan and take action to ensure the stability of your business. Likewise, market trends, new product announcements and shifts in buying patterns all can signal new potential opportunities.

It is time to use Big Data to grow your business

The use of Big Data in business is still expanding. However, the amount of data available to businesses also is expanding. It has become too much for any one company to acquire, manage and use on their own. With more systems coming into the marketplace, many tailored for specific industries, acquiring a big data resource has become both an affordable and essential step for every business owner. Overall, the ability to leverage information to better meet the needs of existing customers, as well as reach new consumers, has the potential to improve – not just the sustainability of any business – but ensure growth and greater success.

Author

  • Michael Hackmer
    Michael Hackmer

    Michael Hackmer is the founder of Social Web Tactics. Born in Boston, MA, Hackmer has lived in the metro Washington, DC region since 1998. He specializes in digital marketing strategy, seo and sem, social media, merging online and in-person events for best engagement, business development and more. With over 15 years experience in government, non-profits, public and private corporations, spanning a number of industries, Hackmer has a unique wealth of experience. He currently resides in Ashburn with his daughter.

    View all posts

Share this:

  • Twitter
  • Facebook
Tagged under: Customer Support, Equio, New Frontier

What you can read next

Social Media Report - Top Social Media Channels
How To Create A Good Social Media Report

You must be logged in to post a comment.

Let's Discuss Your Business Needs

Let's Discuss Your Business Needs

Click here to schedule a meeting. Or call us at: 703-362-1586
Marketing Services

Need Help With Your Marketing Campaigns?

Check out each of our services or click here for the services overview.
Identify Your Audience

Optimize Your Website For Search Engines

Create Amazing Marketing Content and Resources

Automate Your Marketing For Better Lead Generation

Create Lead Generation Campaigns (Webinars, Whitepapers, Emails, etc)

Advertise Your Products / Services

Engage Your Audience On Social Media


Catoctin Education - Online, Classroom and Training

Catoctin Education Courses

Courses are coming soon.. Questions? Call us at: 703-362-1586

Recent Posts

  • Create Amazing Content - Content Marketing - Social Web Tactics

    How Government Contractors Can Produce Successful B2G Marketing Content

        Author Michael Hackmer Michael Ha...
  • SEO - Search Engine Optimization

    Why It Is Time To Audit Your Website and Optimize For Search SEO

        Author Michael Hackmer Michael Ha...
  • B2G Marketing Guide For Government Contractors

    Author Michael Hackmer Michael Hackmer is the f...
  • Government Contractors - B2G Website - Social Web Tactics

    Government Contractors Website To Launch April 2018

    Several years ago, a number of us had the oppor...
  • How Marketing Automation Works For Government Contractors

    Author Michael Hackmer Michael Hackmer is the f...

Core Marketing Services

  • TARGET AUDIENCE
  • SEARCH ENGINE OPTIMIZATION
  • STORYTELLING & CONTENT
  • DIGITAL MARKETING STRATEGY
  • MARKETING TECHNOLOGY
  • AUTOMATION
  • LEAD GENERATION
  • ENGAGEMENT

Additional Marketing Services

  • B2B and B2G Lead Generation Webinars
  • Industry And Market Research

Industries We Serve

  • Enterprise Businesses
  • Small to Mid-Sized Businesses
  • Start-Ups
  • Government
  • Government Contractors
  • Higher Education
  • Technology (Hardware and Software)

Marketing Resources

  • What Is Marketing Automation?
  • Why Do You Need Marketing Automation?
  • Marketing Automation Software Pricing
  • What Is The Social Web?
  • Benefits of Hiring A Marketing Consultant
  • Social Media Statistics and Reports
  • What Is Business To Government (B2G)
  • Government Contractor Groups On LinkedIn
  • Government On Social Media
  • How The U.S. Military Uses Instagram
  • B2G Marketing Guide For Government Contractors
Social Web Tactics (SWT)
Phone: 571-271-5976
Email: GetStarted
Privacy Policy
Terms and Conditions
Copyright 2022
Social Web Tactics - Digital Marketing Agency
TOP