Big data or big hype? How big data is transforming customer experience
According to IDC, data creation is occurring at a record rate. In 2010, the world generated over 1ZB of data; by 2014, we will generate 7ZB a year. Much of this data explosion is the result of a dramatic increase in the use of mobile devices.
Big Data is offering new possibilities for companies today to improve the customer experience, improve forecasting and reduce risk. However, managing vast amounts of data in today’s competitive environment can often be a challenge. By analysing massive amounts of real-time and diverse data, businesses are able to gain the insights they need to beat their competitors.
Big Data is about the growing challenge that researchers and organisations face as they deal with large and fast-growing sources of data or information that also present a complex range of analysis and use problems.
In order to understand more about the Big Data challenges businesses face, the strategies employed to overcome them and the impact on Customer Experience design, we ran a study amongst Australian organisations.
Based on findings from this research, this presentation will examine the growing prevalence of Big Data across Australian organisations. It explains why being good at using and understanding Big Data is critical for driving better Customer Experience design; and details how leading Big Data organisations manage, use and operationalise insights gained through Big Data.
It will cover:
- What Big Data actually is
- Key business benefits derived from Big Data
- Analytical tools and methodologies for analysing Big Data
- Areas of business that use Big Data
- Case examples of business initiatives that have successfully leveraged Big Data analytics
- Challenges are posed by the Big Data?
- How organisations resource their Big Data requirements
- Future Big Data strategies and initiatives including technology, resourcing and organisational models
- How Big Data will influence customer experience design