At Extendo we have talked extensively about the need to make decisions through properly collecting, analyzing and activating data, and the power of Big Data has become relevant to understand what is happening in the market and specifically about consumer behavior.
Now, due to the elimination of third-party cookies or the magnifying glass to protect the privacy and security of digital customers, there is a new trend in how to use information… small data.
It deals with more precise data and in smaller volume, it focuses on a specific type of information and its processing speed is faster, which also generates better understanding.
According to the perspective of the consulting firm Gartner, specialized in information technology, the digital industry will have new strategies in terms of Big Data that uses Artificial Intelligence or machine learning , but also in having better context and efficiency.
The objective is that decision-making in data-driven marketing is based on a strategy of small data and wide data, the latter concept refers to the need for data with greater variety or breadth to have another approach to information and achieve specialization. customer centric with greater knowledge of customers and more value is obtained from various sources.
Challenges
Undoubtedly, each organization must know its scope, starting with the amount of data it can collect and the tools or resources available for analysis, as well as complying with the new regulations to responsibly protect the privacy of users and, finally, to achieve intelligent predictions about the business.
What do you obtain?
- Strategic decisions of business leaders with this comprehensive information that comes from different sources.
- Better experience for customers and users in a private environment.
- Knowledge of the real contribution that digital has in the entire business.
Data is not only used to obtain relevant findings, because it is about monetizing and transforming businesses by making use of information.
The resources allocated to analysis are an investment that, if done correctly, will pay off.
