Wikipedia describes Big Data as, “a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications. The challenges include capture, curation, storage, search, sharing, transfer, analysis and visualization. The trend to larger data sets is due to the additional information derivable from analysis of a single large set of related data, as compared to separate smaller sets with the same total amount of data, allowing correlations to be found to "spot business trends, determine quality of research, prevent diseases, link legal citations, combat crime, and determine real-time roadway traffic conditions."
Now that is a mouthful and the definition alone is intimidating. But when you really think about it, Big Data is really just the collection of large amounts of information, right? So let’s break that down even farther so that we can answer the important question of what do you do with all of the “Big Data” that you collect? We can borrow from the definition the areas that many businesses and organizations find to be the most challenging (and intimidating) aspects and show you how using the right Sales Enablement platform can make Big Data a little more friendly.
Let’s start with how you capture Big Data. Data sets can be structured or unstructured. In the simplest terms, that means the data is either organized as it is captured or it isn’t. Think of your closet at home. If your clothes are hung and folded neatly it is much easier to not only see what you are looking for but also to perhaps notice patterns; you have a fondness for blue, short sleeved shirts. But, you wouldn’t see that pattern or have easy access to the shirts if you had just thrown everything in there all at once, and in no particular order. Big Data is the same way. If you have a Sales Enablement platform that captures and organizes incoming information, then when you are ready to apply it using a variety of avenues (think email marketing to a particular group of customers, for example) it will be quick and easy.
Next, we should look at the curation and storage of Big Data. Let’s refer back to the closet analogy. As we know, “curation” is collecting and sorting content. Again, a big and overwhelming task for most organizations, unless they’re using powerful Sales Enablement software that does that work for them. A retail location, for example, can collect customer information from as many as 20 touch-points. Multiply that by thousands of customers and the act of sorting that content (and storing it) can be easily overwhelming. A sales enablement platform such as Mindmatrix, however, can automate the process by collecting and sorting all of that content (and storing it) from each touch point and then creating easy to understand graphs and charts that you can use to make smart marketing and sales decisions.
Analysis and visualization may prove to be the most beneficial aspect of Mindmatrix’s Big Data story. After all, what good is a well organized closet with lots of items if they don’t fit! That is kind of what happens to a lot of organizations, they have all of this fantastic, powerful data that they’ve worked hard to collect and yet, they have no idea how to put it all together to make a complete “outfit,” if you will. In order to apply actionable Big Data, an organization must know what it all means. Mindmatrix creates easy to read graphs and charts that show customer behavior, buying patterns, prospect engagement and so much more.
Not every store owner is a wiz at data analysis nor do they want to be, but more importantly, they don’t have the time to break down Big Data to see how if applied effectively it can create intelligently driven sales and marketing strategies.
Sales Enablement platforms are the key to taming the Big Data monster living in your closet. For more information on, visit Mindmatrix.