As the data landscape continues to mature, the utilities of “big data” are becoming clearer to companies hoping to capitalize on the information they have been collecting for years. According to Inside Big Data, the future of data includes joining data from different sources to create a comprehensive picture, and increasing efficiency in ‘softer industries’ like medicine and human resources.
Robust and Deeper Personalization
If you look at the big picture of enterprises, you are bound to realize that future ready-businesses are increasingly focusing on making their offerings personalized. Data analytics came on the scene in a big way to supply actionable analytics to every business; enterprises now can drive personalization more than ever before.
But new intelligent tools are continuing to come into play, allowing deeper forensic insight to customer activities and an array of signals. If earlier data analytics were limited to gross preferences of users, the new data analytics tools can reach deeper into customer psychology and get more precise signals.
Sources of Data Will Continue to Join Hands
We all know the real potential of big data lies in joining or blending of several data sources to provide more actionable insights for businesses. But until now there has been a limit to this blending of various data sources. For example, the food habits of a person can have a distant relationship on his/her choice of electronics except for some class of analytics that establishes a series of cause and effect signals. These chaotic causal effects and relationships among varied sources of data can derive a whole world of consumer insights that were previously unknown.
As companies continue to further develop their data strategy, personalization and collaboration will be a big driver for the vendors they choose to work with.
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