Big Data and Why it Matters
Johanna Brito, Marketing Communications Manager on Dec 6, 2017
This blog was originally posted on Grandstream.com
What’s the big deal with “big data”? The way businesses manage data is progressing and becoming an essential vessel in their business model. The combination of analytics and data can help businesses not only make better decisions but discover patterns and trends that make them more efficient and profitable. That, plus the ability to discover consumer behaviors based on data is what makes this trend such a big deal.
Over the recent years, companies have started to witness the effect that big data has on their decision-making. Companies use analytics to make strategic decisions that affect every aspect of their business and can use that data to analyze consumer behavior and interpret trends and patterns.
In e-commerce, for example, businesses can measure how a product is performing not just by the number of sales, but also through engagement rates. What people are clicking on, what they are searching for, the duration of a page view on their site, the items they are adding to the cart and leaving—all those things matter, and big data can help put online consumer behavior in perspective.
In the travel industry, airlines are relying more and more on applications to help customize consumers’ in-flight experience. For example, United provides “free WiFi” the duration of their flights but only through their app. Consumers can also enjoy free movies or TV shows but only after they download the United app. They can also order food, drinks or extra amenities through the application. This gives airlines access to their consumers’ data and an insight into online behavior during flights. With this information, airlines can construct a better, more targeted in-flight experience and in turn improve the overall consumer satisfaction.
Big data is also making waves in the healthcare industry. By using data and cognitive computing to interpret trends from unstructured patient medical history, professionals in healthcare can dive into this data to identify if a patient is at risk for chronic diseases, better diagnose, and improve treatment options— thanks to shared access to patient notes and records.
Another industry that big data is making an impact on is telecommunications, specifically, call centers. Using call statistics, logs and CRM records to capture consumer notes can help solve consumer issues more efficiently and effectively. This data also delivers statistics on individual call agents and their performance which can be used to create a better operational strategy.
Here at Grandstream, we understand the importance of big data, that’s why our IP PBXs are equipped with data analytics features such as CRM integration to help businesses capture and interpret data in their business communications. Our UCM series can be integrated to SugarCRM or Salesforce, arming our consumers with the tools they need to thrive in this big data-driven era.