HomeArticleImpact of Big Data for Businesses & Startups

08 June 2021

Impact of Big Data for Businesses & Startups

In this digital era, a business without data is like traveling without maps. You can travel anywhere but it’s not effective when you don’t know where you want to go, how about the places you want to go, etc. 

We have many examples of how businesses or startups can be accelerated with utilizing data, especially big data.

What is big data? Big data is a high-variety-information asset that needs information processing to enable enhanced insight, decision making, and business innovations. The complexity of varied information should be processed based on what you want to know. 

So, if you use big data for your business, make sure that you have the tools and resources to analyze the flood of information on your data.

Some companies have succeeded in improving their business by utilizing their data the right way. We see many tech companies can be accelerated due to appropriate data usage. 

Yet, the benefits not only reach tech companies, but every business can gather the data information and manage the flood of information to make a decision.

There are some outputs from utilized big data. Here is how big data can add value for your business and accelerate your startup,

1. Knowing Well Your Customer

Every business needs a buyer or customer. There are two kinds of buyers, first comers and loyal customers. They have two different treatments. When you are launching your business, thinking about buyer persona is a great thing. It can help you reach out to your target customers. After that, you need to make them a loyal customer. 

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Big data that can record all of your customers can give insight into what they like or dislike, their responses about their products, etc. You can use the data to improve your business and make them comfortable with your products or services.

2. Advanced Targeted Marketing

Also if you have data customers, you can utilize it to make advanced targeted marketing, especially in this digital age. Almost all of the businesses utilize digital marketing to promote their business to the high potential customers. It can make your marketing and branding strategy more effective and efficient.

3. Predictive Product Development

Your business’ data including your customers’ behavior data can give you insight how you can develop your existing products and services. More than that, you can make some innovations for your business such as developing new products. With the data, your product has a high possibility of acceptance by customers.

4. Cost Reduction

In this digital era, big data value is more than oil value. Yet, it doesn’t mean that to utilize big data, you need high cost. It’s like another business that needs capital. Having proper data and analyzing data need a cost, but it can reduce your cost in many aspects. 

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The data can make your business strategy more effective and it can reduce the cost. It’s totally different when you do your business manually, need many trials and errors, and make your budget and time not effective.

5. Data Safety

Big data is not only for gathering data to improve your business, but it can help you know the threat of your business, including cyberattack. 

When you know your weakness, you can strengthen your business as soon as possible before the hacker or your competitor attack you.

However utilizing big data can leverage your business. Sometimes, data can disrupt the market, change the behaviour, and make you ride the blue ocean business. Before you can utilize the big data, knowing how you can gather the big data and analyze it, is important too. 

There are some steps from preparing to gathering data for big data until making a decision from the data. Before you choose to gather data, you should know what kind of data your business needs. 

After that, you can collect the data from a variety of resources such as your website, mobile application, social media content. Meanwhile the source of the data stream collecting the data, data will be processed and configured by a system or data professional team. 

The huge data should be cleansed from the inconsistent data using scripting tools or enterprise software. The cleaned data will be analyzed with analytics software and give you insights into your business. 

The Big Data services from Telkom DWS can provide your business with this service to improve your business.

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