How Big Data Is Changing the Business World, and Why It Matters

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In the not too distant past businesses ran on data collected through store visits, coupon redemption, mailed surveys and the ever present telemarketing calls. Information is still collected this way, but there is an increasing reliance on web searches, email contacts and online analytic tools. The information that is collected online can gauge customer behavior more accurately than traditional means.

The fact is that more and more people conduct their business online opposed to face-to-face. So a small business that has an online component to their products and services is more likely to attract business. It is also understandably smart to consider providing products and services online because:

It is instant gratification for your customer. Online tools make it very easy to track and ship products.

It provides you with an avenue to showcase your products and services to customers.

You can customize the customer’s experience and understand their buying patterns.

A lot of the benefits of online business come from collecting, analyzing, and using big data. Here are some ways in which it is changing the business world.

Big Data Changes How You View Your Customers

In the past your business wouldn’t have access to trends as quickly as you do today. This matters because your …

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