The age of big data is a new and exciting time for business. In this TV show John Halpin shares his thoughts and experiences of data.
The age of big data creates unknown territory
Big data is basically saying, it’s not just all about big brands and big systems and the back office of big head offices, it’s about social media and Facebook
and online and Twitter and that’s all data.
It’s about blogs. It’s about, videos. It’s about news.
It’s all this information being captured somewhere. How can you use that from a company perspective?
And the answer is, we don’t really quite know. It’s very new.
Rather than get quite excited about big data and all this additional information and terabytes of new data going into organisations, and basically being quite pleased with yourself that you’ve actually got it. To me, it’s just like well, there’s always been lots of data.
I’ve been involved in lots of data for many years. It’s how you have it and use it. If I was going down the route of beginning, doing something in data, rather than get quite excited about big data and how it’s used and how it’s interact.
First of all, understand your customers, know what they are, have the information on them. Can you speak to them?
There’s laws in this country about, speaking to customers. You might have all the information, you’ve got to legally be able to speak to them and say, if your customers are a prospect, all that kind of thing.
There’s regulation around the financial services, which is even tighter as well. But big data is quite exciting in terms of a phrase I used before, is dealing with the fact.
If I can prove something on the data that I have now, it helps me very much to go back to my directors or people who are on the budgets and say, “Right, to move us into the realms of big data and transactional behavioural information via social media, I’ll need some software to do that.
I’ll need some money. And the reason why I need money, because I’ve just proved something with you with the data I have already.
The age of big data is another exciting aspect of the connected economy. We will continue to bring you expert insight into the impact of social media and digital innovations.