If there is a common denominator in all web analytics forums, it is the assertion that Big Data will change the world. Avinash describes Big Data in a very philosophical way as: “the ability to take a byte of noise and turn it into a byte of signal“, or in other words, to accumulate a massive set of data that can be used to anticipate certain events.
Although in my conferences I always say the same thing: “Do not think about the BD, think about the effective and simple data, it is more effective to study and choose a good Keywords, optimize a landing Page to make money on the Internet“, I also believe, like my fellow analysts, that Big Data is the future of large companies.
We should not be surprised to start receiving telephone offers that anticipate a possible portability just when our annoyance or anger with them has just begun, or that preventive arrests can be applied (although it sounds like Hollywood and Minority Report can be done in a very simple way) that anticipate the execution of a crime.
For all these reasons and as Big Data has unquestionable possibilities I am going to describe some of the most important utilities and the possible businesses that we can have with this technology.
Big Data at the service of Telephone Operators
I have mentioned this as an example before, and it is one of the aspects on which most emphasis is being placed with big data. Some mobile phone or ADSL operators (telecommunications in general), may be able, by studying all this data, to anticipate the dissatisfaction of their customers. We all know that customers are not created, customers are stolen, and losing a customer who consumes more than 40 € per month is already losing a good customer today in Telecommunications. That is why they are using Big Data to obtain algorithms that according to the behavior that the person may have the anger of the same can be measured, and thus be able to solve it before making the decision to leave.
Maintenance of vehicles and appliances
Big Data can be part of the daily life of car brands with official workshops. Currently they send you information when some time has passed since the purchase of the car, but: Oil change, revisions, change of distribution kit … but what if the car is used? Garages can have live information on the errors or faults that will have each car model based on the use that has been given to it. Combining data you can offer preventive services that serve to create surprise in the customer and therefore lead to the purchase of the product. One company that applies this perfectly is Amazon, for example. The e-commerce giant when it sells a printer at the same time is already offering you the cartridges… just when it knows that you are running out of them based on your buyer profile. The BD will help them to know, according to that profile when they are going to run out of ink cartridges, or toner and offer it to you with a special discount to get the purchase.
Analysis of project viability and risk with Big Data
When you undertake a new project, and you do the feasibility study, market study and business plan to apply for funding, the money will come depending on factors of a single dimension: Date of birth, history of default, money requested, the type of project to undertake…. With Big Data an Investor could analyze projects in a very detailed way, being able to foresee with very little margin of error if that project is going to work or not.
Example: Dolores Fernandez wants to open a handbag shop in Plaza Puxmarina in Murcia and goes to the bank to ask for financing to be able to carry out the works. One of the data that the bank can use is the number of transactions (geo located) and the amount that has been in the area in recent years, in order to establish whether the area is interesting for a business of these characteristics to operate. And it is only one of the simplest data that a bank could obtain.
Big Data could tell who a text belongs to
Any algorithm that can patternize the data to store them and raise them to the maximum power, can make a text that is not known to whom it belongs the Big Data can discover it, based on that pattern of interpreted data and a series of relationships that can lead to discover who is the owner of a writing.
In short, Big Data is something as simple as we can think, and we can make it as complicated as we want, but unfortunately today the use of big data is not available to everyone because it requires a significant investment.