by Angela Guess
A recent article offers three tips for companies utilizing Big Data. It states, “Big data is revolutionizing the way businesses operate in the global market, creating substantial pit falls next to huge opportunities. For those who ride the big data wave, there will be access to customers on a scale never seen before. Effective data management will allow companies to create a single customer view, manage resources and operate efficiently and securely in the modern market. On the flip side, companies who choose not to embrace data quality solutions will be left in an avalanche of big data, with security leaks permeating the company and investment opportunities squandered on bad data.”
It continues, “Behavioural data is a big future for big data. Getting to know the customer is now available on a bigger scale than market research techniques of the past could ever provide, although there is still a lot of debate over whether accumulating data in this way is the best way to track behaviours. Supply chain risk is also going to become a central aspect of big data management, with new technology enabling companies to identify weak links and good alternatives within the supply chain in real time.”
