Data Analytics 101, the new crude oil, why?
DATA ANALYTICS 101
Since the advent of social media, the hunger for more data analytics about consumers has increased the value of data. When you add this to the explosion of numbers of people who have mobile phones with internet access, the value of information has only increased even more. Now add the fact that with Mobile Apps such as Twitter, Facebook, Uber and Amazon; your clients are virtually carrying your online store with them anywhere they go, advertising it for you, and instantly giving you feedback as they go.
All readers of this over 40 will remember in the 80’s a Children’s TV series called “Tomorrow people”. In this series there was futuristic robot device that could be asked any question, and it provided the answer on the spot, right there and then, from its collected intelligence. This was a good 30 years ago, so back to the future of today – We now have such a device except such a device is also a mobile telephone, a computer, full of intelligence that taps into a global repository of knowledge, coordinated by a specialist firm called Google.
Google and many other firms in its league profit from gathering this information in its structured pieces of data so that it becomes intelligence to those who need it, where, when they need and in the format they need it in.
When you use google, Uber, Amazon Facebook, FBMatchmaker or any website, you are sharing your data, and you are required to agree to some terms and conditions of the website and how they handle your data legally. The data shared not only helps these companies provide a better service to you, it also helps other companies provide a better service to you. This is what E-BUSINESS is all about especially Business Intelligence (BI) and Customer Relationship Management (CRM).
Recently in Bill Gates gave a speech in Nigeria, praising the government of the day for gains made in the last 10 years while at the same time criticising the government for not doing enough to harness her huge potential by investing in human capital.
He focused on the training and data processing in health care, such that Nigeria is seizing technological opportunities to solve her gargantuan problems. The importance of data to developing countries cannot be over-estimated. What is required is the people appreciating the value, the consumption and also production value of it. In my book Restructuring of Nigeria, the key value of note is the data on Nigeria published in it, and the value awaiting to be tapped by Nigerians, especially in chapter 2 and 4.
This is Debonair Training’s blog Data Analytics 101, the new crude oil. To know about this, so you can discern from the touch of your keypad, how many visitors you had on your online store, what pages they visited, how long they spent, which countries they visited from, which ads they clicked on, then contact us here or visit Big Data