Enterprises that leverage big data analytics tools can gain significant improvements in decision making for more creative marketing strategies.
Many enterprises focusing on big data mining hope that analytics can reveal new patterns to help executives make predictions for the future. Forbes contributor Eric Savitz explained that while these correlations are valuable, technologies that help enterprises make sense of unstructured data offer the most advantages. Because 80 percent of data is unstructured, being able to organize, analyze and prioritize mass volumes of information is often a challenge to businesses. With big data technologies, enterprises can take both structured and unstructured sets and contextualize them to unleash new insights.
While unstructured forms is where most firms believe the promise of big data benefits lies, the structured information, Savitz explained, is the context that gives those analytics meaning. CIOs are still challenged by the fragmentation of information, which is constantly flowing through a variety of channels and sources, in different formats. With the support of database administration services, companies can easily integrate all related structured and unstructured data, from social media conversations to emails and recorded conferences. Savitz asserted that this capability for proper data governance and organization is essential to business continuity. Enterprises possess mass volumes of data that hold considerable marketing value, but only if that information is effectively managed. Otherwise, executives may find it impossible to separate meaningful information and trends from the “noise.”
Timing is everything
Combining analytic technologies with business processes is unlocking big-data benefits. Graham Clark and Max Fresen, of Adotas, explained that while executives are intimidated by data, these analytics can improve the relevance and effectiveness of marketing messages. Data-driven decisions are more likely to be communicated at the right time and to the right audience for a greater impact. However, Clark and Fresnen asserted that most businesses lack the expertise to get the desired effect from big data mining. They asserted that in order to get success from these initiatives, enterprises require a collaborative team that merges internal decision-makers with external database experts, in addition to supporting technologies capable of synthesizing data into actionable insight.
A centralized system for information management is key to deriving meaning from big data. Leveraging analytic tools and remote expertise can give firms new clarity surrounding business interactions, services and strategies.
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