1. Market Research

Australia - Big Data

  • March 2016
  • 19 pages
  • Paul Budde Communication Pty Ltd
Report ID: 2720714

Summary

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BuddeComm describes big data' as looking at intelligent outcomes that can be achieved from data collaboration.

The most critical issue here is strategic management, rather than technology. However the fact that big data has become a vital tool in competition is forcing many companies to transform their organisations from a company-centric approach to a customer-centric one.

The fact that this development is being driven by data-rich organisations such as Google, Apple, Amazon, Facebook, eBay and many others operating in the digital economy is an indication that data management is a critical factor here.

In other words, if you don't have your company's data systems and structures organised in a customer-centric way you won't be able to deliver a good customer experience.

Connected information management, however, can go much further. There are many other players involved in the broader ecosystem, and by sharing and combining relevant data sets and then analysing those large data sets we can find new correlations that can be used to spot business trends, assess customer behaviour, prevent diseases, combat crime and so on.

Obviously this needs to be done on a permission-based or opt-in basis, but if the customer sees the value of it they can become involved. Nevertheless privacy is an issue that requires close scrutiny.

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