October - 2016 - issue > CXO INSIGHT
Why Big Data Is A Big Deal
Neetu Seth
Founder-NITS Solutions
At a time when digitization and powerful new technology makes data gathering easier and more efficient than ever before, business leaders are increasingly looking for new ways to leverage that data. This helps businesses to derive insights that can improve decision-making processes and positively impact their bottom line. All too often, however, there is a significant disconnect between collecting data and creating actionable strategies for execution.
When used correctly, big data can help business leaders better understand their companies and their customers, and ultimately help them design and deploy more effective marketing and communications campaigns. This can not only influence customer awareness, but can also generate more leads and convert more sales. The best marketing/communications programs can also be monitored in real time, and strategies can be adjusted accordingly when the data signifies a consumer preference or trend, helping businesses to constantly refine and enhance their communication efforts.
To make that happen, however, decision-makers first need to understand the power and potential of "big data" (and why it has become such a popular and important tool for so many companies). They also need to appreciate the role of data analytics providers, and to have a working understanding of how to close and even bridge that important gap between data collection and strategy creation.
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