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5 Factors for Your Company to Increase Competitiveness and Profits with Big Data

What does Facebook do to boost revenue that can inspire managers and organizations? Big Data, understand better below.

It’s no surprise to you that Facebook is a network with millions of users, each with a specific timeline based on individual usage characteristics. Most likely, you are also a user; if not, you know someone who is. In any case, every Facebook page liked, every engagement with posts (likes, shares, comments), every content published is recorded as specific user data, among many other data points that can and are mapped.
Moreover, just mention Facebook and the term “algorithms” quickly comes up, but these highly complex engines that perform billions of tasks in real time require inputs, in this case, data.

The question that arises is: how does Facebook provide a better experience for users, prioritize and deliver the most relevant content in a personalized way, and manage an unprecedented volume of dynamically generated data? A good answer is: through a computational process that discovers patterns among the more than 500 Terabytes generated by that social network every 24 hours! This process is called Data Mining. The term used to define these huge and complex data sets is Big Data.

In summary:

… defining a massive volume of data to be processed, analyzed in a satisfactory time frame, and having a very large variety of different types of data used and displayed in a chaotic manner.

… defining how computational processes are established to discover patterns in large data sets.

Big Data and Data Mining are top investments for companies wishing to increase competitiveness and profits in the 21st century world. Among others, experts agree on 5 factors responsible for this:

  1. Personalized understanding of customers.
    – The power of Big Data and Data Mining allows each organization, like Facebook does, to individually understand its customers.
  2. Insights into needs and future demands
    – Data analysis generates information that reveals current or future needs. This enables the development of products and services with the necessary attractiveness to turn that solution into consumer desire.
  3. Customer focus.
    – Knowing the current and future needs of the customer allows the organization to focus on delivering products and services with the appropriate value expected by the consumer, whether an isolated individual, a specific segment, or mass.
  4. More effective marketing and communication actions.
    – Knowing the customer’s needs and how they express that demand, the organization’s marketing and communication produce relevant and aligned actions and messages with better ROI.
  5.  Competitive advantage.
    – Regardless of the size of the companies, it is possible to use the organization’s strengths to take advantage of detected opportunities and gain a competitive edge in the market. Conversely, the more competitors use Big Data and Data Mining, the greater the disadvantage for companies not investing in these solutions.

To meet this market lacking tools that turn data into actionable insights, Gaio was developed in a way that allows managers and business areas to build their analyses, connect data, and facilitate operations with features that make work simple and straightforward, such as voice commands.

Discover the analytical power that Gaio brings and increase your organization’s competitive edge. So get in touch with us because we want to amaze you. If you have any questions, need a customized implementation, or want to better understand how Gaio works. Try it for free