Big Data and Market Research: How they go hand in hand

Due to the massive use of technologies and the internet, thousands megabytes of data are created daily, and when they are grouped and organized, they can set up an important information base that guides organizations in their business strategies. With this objective in mind, several companies started to use “Big Data”, a powerful tool responsible for compiling an immense range of information in a single place.

  According to an article written by SAS, Big Data can be defined as “a term that describes the large volume of data – both structured and unstructured – that overloads companies on a daily basis. But it is not the amount of data available that matters; it is what organizations do with them. Big data can be analyzed to obtain insights that lead to better decisions and strategic actions ”.

It is clear the importance of accessing these databases in order to obtain information about your market. But how is it possible to find what your company needs in the sea of data? In this case it is important that you understand what you are looking for and then do segmentation. For example, it is possible to organize a base of possible customers by size, volume of consumption, demographic profile among countless others.

Due to its great potential for generating information, many people believe that Big Data replaces market research, however, it is not quite like that. Through a database analysis it is possible to find out which brands a given customer segment consumes, but only through market research, it is possible to capture what leads the customer to have this behavior. Joining the tools allows an organization to have much richer information about its market and thus be more prepared to make decisions and define the direction for the future.

Another way to combine the tools is to use Big Data to prove hypotheses generated through market research, as it is possible to use the data and through a predictive analysis to check the history of customer behavior and even try to notice new trends.

 Using both resources can make your organization make better decisions to maximize its results, since you will have a much more complete view of your market, customer profiles and behaviors that will guide your marketing and sales actions and strategies, it is a powerful way to consider today, especially with the growing social networks, marketplace and the great diversity of the internet world.

For this reason, adding the importance of data that Big Data makes available, added to the intelligence that market research with a specialized team can offer, can be a potential recipe for the success of a project.

Stay on top, because the revolution of the future has already begun!

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *