What Is Big Data?
Posted By: DSG
While its label may create the perception of “Super-Size” big data is not all that big and nor is it as overwhelming as some may allude to. Big data is simply an assembly of customer experience information. A reflection of data collected from various channels and touchpoints on which the customer transacts. Anything that becomes compounded may present as being complex but as with several processes through which we seek to find meaning, as we order chaos, the consequential data is extracted, organised, interpreted and given a purpose.
Big data is big because it amassed from both traditional channels as well as digital and social sources, from both within as well as outside of the business. Such an extensive amount of data-driven CX insights, when carefully analysed and categorised into meaningful pockets of business intelligence, can have a far-reaching impact on the overall business intent and functional operations.
When people speak about Big Data, they often refer to terms including “Unstructured” and “Structured” data.
- Unstructured data can be text heavy and lack relevance or weight. Such data may need a more direct approach to deciphering relevance, sentiment and value given it ambiguous nature. Social media engagements, for example Tweets, Facebook posts and forum conversations can be considered unstructured data.
- Structured data is organised and searchable, allowing the users of such data to extract refined results when examined.
The true power of Big Data lies in the intersection or overlay of structured and unstructured data. In doing so, by superimposing all data pockets, both structured and unstructured, reveals patterns and trends that occur during the customers experience at each phase of the customer lifecycle. With such insight and understanding to how customers are experiencing a brand, its products and services, businesses are able to apply precision to customer experience strategies, product and service plans as well as perfect channel and touchpoint engagement.
Big in stature and big in influence, big data introduces the concept of holism into data-driven decision making whereby connecting or combining data silos produces an effect far greater than the sum of their separate parts when analysed in isolation.