With big data making waves, a lot of today’s entrepreneurs are confronted with a conundrum: How exactly to crack in to the bottomless well of facts and figures the internet provides us. We realize it’s out there. We realize it could give us useful information regarding clients or customers. But what we don’t know is how exactly to access enormous data sets without spending similarly enormous funds to get and analyze this fruitful resource.
While it might seem frustrating sometimes and an impossible task, it could be done — and on the cheap.
Listed below are three inexpensive but effective ways a business owner can put big data to work.
1. Start small. Sounds counter-intuitive, doesn’t it? Yet, that’s among the beauties of big data — there’s so a lot of it around, you can plunge in at just about any point and develop valuable new knowledge.
Even minimal tech-savvy among us is aware of Facebook and Google searches. From these sources you can gather information regarding your current customers which will enable you to provide them with more personal service. Also you can use this sort of information to create a profile of what your clients will most likely appear to be.
Consider Justin Roller, maître d’ at acclaimed NY restaurant Eleven Madison Park. According to a recently available interview in Grub Street, each afternoon Roller does some quick internet research on each guest who’s expected for supper that night: Even small details are of help.
"EASILY find out a guest is from Montana, and I understand we’ve a server from there, we’ll put them together," Roller says in the interview.
WHAT SIZE Data Helps Us Keep Pace (Infographic)
This data mining means that Eleven Madison Park patrons could have an evening like no other — and hopefully will tell others.
2. Let another person do the work for you personally. While there are tools out there like WealthEngine, something that delivers data and analytics to nonprofits, luxury goods, retail, and financial organizations, permitting them to get a deep knowledge of a person or prospect’s wealth, lifestyle and spending behavior, they do cost a fairly penny. But that doesn’t mean there aren’t other resources freely available which will give entrepreneurs a complicated grasp on key demographics.
For example, there are state and regional databases which can help you pinpoint an unfilled need within a community or boost your understanding of your customers’ lifestyles. The Pioneer Valley Regional Data Portal (PVRDP), which serves Central Massachusetts, is one particular resource. It consolidates regional economic, planning and workforce data through a publicly accessible portal specifically made to support economic development in your community.
Big Data ISN’T ONLY For Big Businesses Anymore
For those who have already have something or service you’re prepared to offer, america Postal Service will help you create a direct-mail campaign giving you usage of its big data through its Maponics WEB STORE, a resource which has a selection of reports an address lists offered by reasonable cost.
If data collection and analysis is simply not your thing, don’t run screaming in to the night. Instead, consider speaking with the internship office at your neighborhood college or university to locate a student majoring in data science or analytics who’ll bring up-to-the-nanosecond expertise to your endeavor for the relatively minor cost of his / her internship. Who knows? You may just find your first employee.
3. Think ahead. Your business won’t continually be in startup mode. Think ahead to your day if you have amassed a big client set of your own. That’s your computer data gold mine. So do your own future self an enormous favor and begin keeping good records now. The more you understand about your visitors, the more you can reach others like them — and discover new methods to keep them thinking about your product.
Not Using Big Data for Hiring? YOU MIGHT BE Missing Out on the very best Candidates. <