TextOre Blog

Five Ideas for the Age of Big Data

May 18, 2014

Access to unlimited amounts of information will lead us to think and act differently. Here are five new ways of thinking in the age of Big Data.

1.       Ask questions that can be answered through data rather than subjective opinions or gut feelings. For instance, “how many people responded to our last marketing email?” is easier to determine than “did customers like our latest product release?” Traditional market research ask people their opinions. The Big Data method is to register people’s actions and analyze the data.

2.       When in doubt, get more data. Don’t worry about information overload. Find new, relevant data sources to support your decision making. Unstructured data, like text or video from social media or blogs, may provide you with other insights than pure number-crunching of internal sales data.

3.       Think Agile, work in iterations, and follow the scent of information. For instance, if your social media monitoring points to a problem with deliveries, turn around and analyze internal data on logistics or customer service to quantify the problem.

4.       Make use of open public data. More and more governmental data sources are made available to businesses. Population data, geo-data, or data on traffic and transportation could be a valuable part of your business intelligence.

5.       Connect to the data when you need them. Use the cloud, online databases, web services, and APIs to access data sources and pull down timely and relevant data for the analysis you’re doing. Bonus: Cut down on storage costs and in-house IT operations.

And finally: Use your own judgment (ok, not a new idea per se). Even if you have all the data sources you need and the best analytics tools available, you still need an analyst’s experience and human judgment to identify key information, trends and events.

 

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