Customers are now telling businesses what they want
Big Data will help businesses boost productivity (and by extension, increase their profit margins). In an article at Wired.com, David Steinberg lays out some reasons why he holds this position…
1. Big Data is helping businesses understand their customers better. And when this happens, it is much easier to determine who will take an action that will be beneficial to that business — Be it a purchase, review, feedback, etc.
2. Customers, because of technologies like the smartphone, “happily” give away valuable information about themselves. They do so as they build their “personal profiles” through social sharing and GPS.
3. There is a departure from companies guessing what their customers need. Customers are now telling businesses what they want (Via interactions with Big Data).
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