How companies of any size can get more from their existing data?
The big data mindset encompasses four elements:
- Design marketing processes with data in mind - Companies must often re-engineer their marketing processes to ensure they have access to relevant information when they need it.
- Engage in Research and Development everywhere - Companies that promote a culture of testing throughout the organization can gain tremendous insight into consumer trends and user behavior.
- Use predictive analytics - Businesses are increasingly able to identify customer patterns and generate targeted offers, often before customers are even aware they have a need.
- Challenge conventional wisdom - Since data analytics can provide definitive answers, there’s no excuse for using the status quo as a default.