Customer Care Initiatives Drive Demand for Big Data

A new study from Guavus shows how deep the demand for data runs, with 87 percent of respondents in a global survey implementing big data analytics strategies. A host of factors drives the implementations, with 66 percent citing getting the most out of revenue generation, 61 percent citing improved customer loyalty and a better customer experience, and 61 percent also citing reduction in operational expenses.

Businesses are planning to put big data analytics to use in a variety of ways to help reach these goals. Fifty-seven percent plans to put big data to work to drive more proactive customer care operations, while 48 percent want to secure streams of revenue. 47 percent are working toward more targeted product offerings—knowing what the customer wants is the only real way to provide it—and 44 percent want to ensure better service is provided.

Several issues lie between companies and a proper use of big data analytics; integrating the various data systems is a problem in 28 percent of cases, while poor overall data quality comes in for 25 percent. Just finding people with the necessary skill to run big data projects is a problem for 22 percent of businesses. When it's hard just to find the people to make the system work, that's where much bigger problems are in play, and where some really impressive opportunities arise.  

When the three biggest problems are getting the data together, having poor quality data, and just finding people to manage to work the operation, it's a great time for businesses to offer tools that make operating big data easier. We've already seen some of these tools come into play; with 87 percent of respondents already having big data up and running, clearly the gap has been met on some levels. Big data has already been shown to improve processes, so if big data suppliers can offer up tools that are as easy to use as, say, an Excel spreadsheet, there's a lot of room here to be a big winner in the field.

As more businesses put big data to work to take advantage of its numerous benefits, those with skill in the sector will naturally develop. Data will improve as more know what kinds of data are needed and collect it accordingly. Big data has a great potential to reshape business, and we're already seeing it do just that.