What exactly is big data, anyway? And what is it supposed to mean for your business?
Turns out – as far as the first question is concerned, there’s no real, precise and fixed definition of “big data” out there. But that’s actually a pretty good thing. When there’s no one single interpretation, it can only mean that there are a lot of possibilities in the world. And as for question two? Read on to find out exactly what big data will mean for your startup.
Get the scoop on the coming trends
Have you ever used Google Trends? If you have – then you already know how useful this could be – in which case, skip on ahead to point number 2. But if you haven’t, then listen up. Google is not just for searching random stuff that’s already happened. Google Trends can in fact help you to harness all of the data that’s pouring through Google, to spot what’s trending and where – leaving you to work out just how this could be a potentially major business opportunity for you.
Learn to spot the patterns
Not to get all weird and woo-woo on you, but there really is a pattern behind everything in the world. And learning how to spot them can mean big things for your startup. If you’re making a huge range of products or offering different services, then wouldn’t you want to know what the pattern is behind who actually uses them – and when?
Machine learning can help you decipher that hidden code. You can use big data to identify not only what makes things popular with individual users, but also see what deeper patterns are buried beneath the surface. What happens when different users are connected? What happens when there’s a group of them? How does that change how your product is used? Knowing this is pretty damn invaluable stuff.
Get operations running smoothly
Big data isn’t just about fancy analytics being turned into even more fancy analytics. Oh no. It can actually help on a very practical level – by helping you to iron out all those little bumps in the road that are hampering your efficiency levels. By taking data from the existing processes you’ve got going on, you’re able to create a very complex and subtle picture of how you’re currently operating. You can then use this to look at how you could be running things in a much more effective way!
Feeling inspired? If you need a little extra push, then check out this great article on Datanami with some brilliant real life examples of awesome startups using big data to disrupt current markets. The results are nothing short of super-motivating – and they’re guaranteed to get you off your butt.