According to a new report by CSO Insights, retailers, marketers especially, are largely excited about the possibility of adding big data analytics to their current set of tools. The systems use information of all types from a variety of sources to help retailers make decisions, including who to target with marketing campaigns and which types of offers will be most successful.
The survey found that only 16 percent of sales departments currently use big data systems. In contrast to that number, 71 percent of respondents expect the technology to play a role in the future, indicating great potential for data and the systems that analyze it.
A data-driven future will only be as strong as the information that supports it. Companies with low data quality
could receive inferior results from process analyses. To determine what customers want from a company, that firm should make sure it is accurately representing those shoppers' opinions.
According to Business 2 Community, the best data set to use when examining customer behavior is a composite grouping, built from multiple silos of information. While companies have traditionally sectioned off their facts, the source stated that big data can transcend those divisions.