Big data has gone from “the next big thing” in the IT industry, to being “the next big thing” across all industries. Organizations from car dealers to bakeries and anyone in between seem to be using big data to find leads, refine their offerings and make sales. In fact, you’d be surprised which industries are using big data to revolutionize their processes and the way they do business.
When it comes to buying houses, you’d figure they’re bought and sold based on the current market. Finding buyers depends on if someone needs a new house and if the price is right. How could big data help with that? When collecting data, companies can find out a few things about their properties as well as their geographic location and their clientele. In a recent interview, Ryan Masiello, founder of smartphone app View The Space, stated that big data in the real estate market can help agents quickly get feedback from their clients and help negotiate prices.
The Music Industry
Music and technology have gone from friends to enemies and back to friends again a few times over. More recently, thanks to big data, the music industry and technology have been getting along quite well. Between Pandora, Spotify, and iHeartRadio, the music industry has fully embraced streaming as a way to get new music into the hands (or ears) of fans. With features like auto-generated playlists, references to music you might like based on your current song or artist, and direct links to purchase music from the artist, big data has become an integral part of the music industry.
As more big box stores and mom-and-pop shops move away from brick and mortar locations and go online only, the shipping industry has been stretched thin. Demand is higher than ever for the USPS, FedEx, UPS, and any other company who can quickly get packages to where they need to be.
Thanks to big data, this can now be done efficiently and effectively. For example, the SmartIQ Transportation Intelligence Suite takes tons of data and turns it into actionable insights for shipping companies. With this analytics, driver performance optimized routes, and even safety concerns can be addressed. Then there’s the speed factor: getting things to their destination quickly. That’s what GPS is for! Waze, an app purchased by Google last year, essentially puts your vehicle into a social network of other vehicles, linking you to others around you. It will detect your speed, and if you slow down to a crawl on a major highway, will divert you and the drivers behind you away from a headache that is stop-and-go traffic.
Hospitality, food service, and banking are just a few of the frontiers big data is quickly infiltrating. If you think your company can benefit from big data and the insights it provides but aren’t sure where to begin, it may be best to reach out to a consulting firm with years of experience in the field. The information you can gather could make the difference between a small success story, and a major leap forward.