Data is important in all areas of life, whether it is in the medical field, or knowing whether to buy SOS stock for the first time. Big data is the sea of info that gets filtered to reach specific outlines for tracking what the majority is following and using it to make educated assumptions of that group’s reactions. The best use of big data has been in marketing and business as it gives the modern company team insight to base their efforts on creating and selling products for the future.
An Ever-Changing Customer Base
Most companies have a dedicated team to track their sales and keep current tabs on what their customers particularly like or seem to dislike in regards to their brand name and use that data to adapt to an ever-changing customer base whose own tastes are affected by each individual’s personal store of big data from their surroundings. Factors like culture, demographics, and current events that affect a person’s state of preference are all data points for analysts to pick apart.
Adjusting to Trends
This strategy of adjusting to trends can lead to very creative research and development. One example is the unique blend of customer deference to local flavor that led cooks at Pizza Hut in Taiwan to adopt the traditional ingredients such as spicy sweet durian, peeled and preserved eggs, and even pigs blood for their takeout pizza selections. The food chain follows alongside other American staples that have grown popular with the young population in many overseas locations by incorporating what they see the largest group prefers in their diet and adjusting to make themselves palpable to a new foodie.
Research Into Failures
Trendy food and shopping sites aside, customer data can also be used to make advanced technological developments. Flying has always been a numbers-heavy industry as flights are calculated for everything from passenger capacity to estimated arrival to the cost of each ticket. With thousands of flights a day corresponding to countless points of expected failures, research into past experienced failures leads engineers to develop better countermeasures to systems errors and parts failure.
Air travel agencies can also use the feedback of countless fliers and their mapped travel patterns to arrange prices for different clientele on different schedules, from the occasional family vacation to the frequent business flier. Maximizing value for the cost not only leads to higher sales numbers for the agency, but in the long run, better pricing for the average plane rider as they aren’t burdened with unnecessary charges to validate the plane’s cost.
Big Data is Important to All Sectors
It may seem that big data is solely linked with the business sector, but, in truth, many other fields utilize the combing of data pools for determining outcomes and changes in their performance. The healthcare system is constantly dealing with huge populations of patients, and from the metrics obtained by today’s technological personal devices, there is more data to see how a person’s daily life and wellness is affected by such factors as diet, environment, and even socio-economic wellbeing.
An analyst, such as Stanford Children’s, will look at the effects a persons income status has on their stress levels, their nutrition, and how their location affects their health and use those values to verify such things as standards for consumption, or support policies to limit harmful pollutants reaching less affluent neighborhoods. These data metrics became vital lifesaving tools for the start of COVID 19 as patient sourcing identified points of infection and led to action to curb the rising death rate from exposure and contraction of the disease. Mass infection is a national threat that puts big data at the forefront for preventative measures and monitoring on a global scale.
Gauging Behaviors and Actions
Big data covers the many points of reference for a large population of people that analysts can use to gauge behaviors and actions in the near future. Today, data has uses for many fields that require input to drive development as the average technology accessible individual can maintain their own pool of data to source their everyday decisions and develop their own trends in behavior based on what they like and dislike.
The company data analyst’s job of sorting data takes on a new level of importance as their work leads to building relationships with their customer base monitoring the wants and needs as well as modeling the many viewpoints derived from surveys, collected polling, and general observances in the current topics of interest. The analyst’s role also takes on more prevalence in using their earned knowledge to assess high risks to the population and should be counted as a vital innovation for the future of technology.