We recently covered what we see as the big topics of 2014 in “Predicting Cloud Integration trends in 2014”, including an explosion of endpoints, Big Data, and hybrid IT architectures. This week we dive deeper into Big Data integration and how it can help your business.
As mentioned in our original post, in 2014 “Big Data will be so big it will actually be ‘no big deal’ in that no one will need to be convinced of its importance and they’ll be tired of talking about it” according to Chris Grossman of Rand Secure Data. Let’s bring in some data points to back that up. Earlier this year, IDG published their latest big data enterprise survey, which outlined a number of Big Data trends to watch. Namely:
- Enterprises will average an $8M spend on big data.
- 70% of enterprise organizations already deployed/plan to deploy big-data projects versus 56% of small and medium businesses (SMBs).
- 74% predict that big data will be in mainstream use in at least one business unit or department.
- Improving the quality of the decision-making process (59%), increase the speed of decision-making (53%), improving planning and forecasting (47%) and developing new products/services and revenue streams (47%) are the top four areas driving investment in big data initiatives today.
Companies will see Big Data is here to stay in 2014. This means we’ll see businesses outside of the technology sector using a plethora of data to better improve their core business. For instance, a clothing retailer could integrate data from mobile, social, and location-based sources (like Apple’s iBeacon) to build a more accurate profile of their shoppers, thus allowing for a more tailored shopping experience. Having access to this data in one place also allows the retailer to more accurately market to their shoppers when they are not in the store, encouraging purchases of items marketed specifically to them, whether in-store or online. A retailer with this well-organized data can also sell it to their suppliers or advertisers, creating a revenue stream from their customers on the back-end as well.
Visualization tools in development by various companies will allow non-technical marketers and executives alike to glean actionable insights from their data, shedding new light on areas once considered only accessible to a data scientist. This means the aforementioned customer profiles from a clothing retailer will be more easily understood, leading to quicker implementation and results of marketing actions.
Big Data has been hyped up for years, but 2014 is the year enterprises will realize how essential a complete view of their customer is to their business. Used in practical, profitable ways, Big Data will improve the bottom line, while also providing great value to end users and customers. Due to the many disparate data sources used today, an integration solution is needed to derive the full value inherent in customer data and to best serve those customers as they look to purchase products.
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