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6 Ways Big Data Is Changing Lives

Photo by Alexander Sinn on Unsplash

Big data has affected almost every aspect of people’s life, whether you are booking a car rental in Reykjavik or working in a tech firm in Silicon Valley. From the way research is conducted, to the way customers are marketed to, and the way financial decisions are made—everything has changed because of big data and continues to do so as big data becomes more and more complex. In order to truly understand how big data is changing lives, here are six examples of some significant ways that big data affects everyone every day.

6 Ways Big Data Is Changing Our Lives

1) Speed

Big data is everywhere, and it continues to grow. Businesses use big data to make better decisions faster. Targeted advertising is reaching new audiences because of big data. Technology that tracks human behaviour has become more advanced and can be used for a variety of different things from diagnosing medical conditions to predicting when someone might need a particular service or product, much quicker than a human ever could.

2) Accuracy

Every day about 2.5 quintillion bytes of data is produced, which is the equivalent of 250 billion selfies. With so much data flooding the internet, it’s easy to see how the giants of big data have become essential. From predicting future patterns to understanding who people are and what motivates them, big data is constantly adapting and evolving to meet people’s needs. As a result, these companies are changing not only how they do business but also how people live their lives.

3) More Insightful Solutions

Data is influencing the way people think, how people make decisions and even how people date. Big data has provided more accurate weather forecasts: The National Weather Service now offers forecasts with greater than 90% accuracy. This means you’ll be able to plan your day better so you can get out of the rain or snow on time. Not to mention personalised ads that offer solutions by just knowing your problem. Online advertisements are more like what you’re looking for and less like what someone else thought you might want to see. This means that when you do purchase something online, the ad will be tailored to your interests and needs.

4) Better Returns on Investment (ROI)

Big data helps businesses with more accurate ROI projections. For example, if a business invests in a marketing campaign and is not sure how much it will earn back, it can use big data to predict the ROI and make an educated guess on whether or not the investment would be worth it.

5) Self-Service Analytics Services

Self-service analytics services are bringing big data to the masses by making it easier than ever before to get insights from data sets. These cloud-based solutions allow any business or individual to extract information and create reports without requiring technical know-how or high costs. Self-service analytics services are changing lives by giving greater insight into what is happening in the world. The insights that can be gleaned from a self-serve analytics service can provide early warnings of potential market trends, help determine how effective your marketing campaigns are and even predict future outcomes based on past behaviour.

6) Redefining Customer Relationship Management

Customer relationship management has come a long way since the days of telephone and fax, with technology evolving to help companies analyse their data and better understand how customers interact with them. Customer relationship management software is now an essential part of many businesses marketing strategies, helping businesses collect data on customer interactions with their brand and analyse it in order to offer better customer service. This can be done by mining social media sites like Facebook and Twitter for information, as well as analysing call centre records. CRM software also helps provide insights into what kind of information customers are looking for when they interact with the company’s products or services, which will allow the company to better market itself by tailoring messages to each customer’s needs.

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