More data isn’t always better when it comes to analytics.
Respondents say they frequently face data paralysis and make decisions based on assumptions rather than truly listening to the voice of the customer. While there is no simple solution, some believe that making big data smaller is a good place to start.
When it comes to data, the less the better.
In contrast to big data, which is large amounts of structured and unstructured information that must be processed using specialized analytical tools, small data is information in a volume and format that is accessible, informative, and actionable. The data is small enough that it can be processed by a single machine and comprehended by a single person.
Small data appeals to marketers who are looking for answers to specific questions. According to the report, Small data, in other words, enables businesses to make timely, strategic decisions about how to meet their customers’ needs.
Back to customer intelligence basics
The problem isn’t getting access to data; consumers continue to leave clues about what they want and when they want it. However, as that poll points out, filtering out the noise in order to convert those clues into actionable insights and decisions is becoming increasingly difficult. As a result, some businesses are willing to bet on small data to identify the moments that matter to customers. Customer intelligence is something Cegura Technologies can help with.
