In the past few years, big data has emerged as a powerful technology for businesses attracting sales and marketing professionals. It assists organisations to understand the market, redefine their strategies to capture the market and generate maximised revenues, improvise the decision making process. Below section describes the big data analysis and its uses in sales and marketing:
Identification of consumers pain points is the key requirement of a company as it is the necessary information when it lands to consumer’s research. It explains the critical issues a user experiences during their buying journey to solve it with the technology. Various software developed with the aim of eliminating the hurdles faced by users result in improved end-user experience. The primary agenda is to grab customer satisfaction and affection for the long term.
The implementation of big data analytics becomes easier from the presented insights from users behaviour, choices etc., which is the result of the user’s interaction with software. The relationship between user and software can improve over the time by analysing all the problems faced by the user. An analytics allows organisations to measure the pain points of the user in multiple ways. The best way to recognise the user experience can be achieved by modelling the huge samples of business intelligence data sets which presents a clear view of assessing existing features and capabilities.
The use of analysis in sales and marketing is not only limited to the analytical results but the emotional intelligence as a part of human communication stands at the topmost of the data science technology. The advancement in technology brings revolutionary change in operating businesses by introducing sentiment analysis on human emotions for analysis. Companies are now capable to understand the emotions behind a text.
The concept can be implemented for:
- Research on the communication about a brand over various social media platforms,
- Market study,
- Analysing communication history data collected from the automated chatbots.
Mistakes are the part of human nature, but as many businesses are trying to meet their objective, a well defined right decision is the essential priority of an organisation. Data can eliminate this headache with its hard evidence to provide maintained and balanced situation. More the data analysed by the organisation, more the process becomes easier. With the implementation of artificial intelligence and machine learning algorithms, analysts get smarter in making a decision for the organisation. Software vendors are now able to predict future by analysing present trends to stand tall in the competitive environment. With big data analytics, the life cycle of decision making is decreased as now companies can make faster decisions by combining the actual outcomes and results collected from the predictive analytics accelerating the overall organisational success.
Consumer behaviour to a product is an important factor to consider in decision making cycle. The dataset collected from various customer preferences fills the gaps in the traditional marketing environment. The only trouble is its integration in real-time? To create a more convenient data-driven ecosystem with effective future plans for the organisational growth, it is essential to combine the approach of big data with your business intelligence.
Apart from organisational planning, revenue or other related decisions, providing quick and accurate solutions to customers is necessary for their satisfaction. For example, if your team provides a manual solution in minutes, Big data can reduce the timings into seconds driving high customer retention.
Big data allows companies to perform research on various market factors with a data-driven approach to deliver the optimum price for products. To conclude an optimum price for the product big data analyses the information collected from purchase history, consumer feedback, manufacturing costs, purchasing costs and stock clearance. Depending upon the data analysed from these factors the key decisions are taken such as price reduction and its impact on the overall profit and time to implement new price in the market.
Final Words to take Home:
If you are finding the ways to boost your business operations then big data is the right choice for you. With the deep understanding of big data or affiliated tools such as Hadoop and a team with experienced developers, you can deliver the valuable insights to transform your business operations. You can also arrange the Bigdata Hadoop Certification Training to educate your IT employees with cluster-based computing.
By Varun Dutta
who is an AI and ML expert. He focuses on the latest trends and now wants to explore the crypto world.