Big
Data Analytics in this age of digitalmarketing will affect your company culture irrespective of the fact whether
your company builds software, provides marketing services or selling life sized
posters of your hero.
Big Data Analytics is offering information and once the
information has been learned it is changing the business culture.
The
Big Data is a revolutionary concept that is bound to affect the company culture
that can be best compared with our Stone Age ancestors who underwent enormous
cultural changes with the discovery of controlled fire.
When exposed to
advanced, specific information in the form of Big Data, organizations do
undergo a cultural change and if it is not affecting the businesses then
somewhere you are not using the Big Data Analytics as it should be.
In
which specific way does big data would affect your company culture is dependent
upon factors such as the type of data you have and how and what you intend to
do with your data.
Big Data analysis when done in a proper way will reveal
certain consumer trends, customer profiles and customer demands. For instance, Nordstrom – An American upscale fashion
retailer with 225 stores and doing over $10 billion in annual sales has done some interesting experiments with
Big Data to learn how it is affecting their culture.
How Big Data Analytics is Affecting Various Sectors are discussed Here in Below:
Human Resources and Business Culture
The
Human Resource or HR department plays a pivotal role in the culture of a
business and through big data analytics, the HR managers can examine at the
hard data of the concerned candidate to be recruited for their organization.
Through this data, the hiring managers can analyze the benefits and possible
drawbacks of bringing in the candidate or prospective employee on board. Big
Data Analytics helps the hiring managers in arriving at fixed and more specific
company culture by hiring potential staff.
Big Data and Marketing Culture Role of Big Data Analytics
Big
Data through streamlined analytics enables organizations in shedding up their
inefficient practices that is more prevalent in traditional marketing practices
in terms of wasting money and time through advertising media in the form of
radio, television, print ads and social media.
Through big data bases and
effective analytical tools organizations can exactly calculate where their
revenues are coming from and on which campaigns they are wasting their time and
valuable funds.
Through Big Data organizations can advertising campaigns can be
run as per the changing image of the customers or consumers and in the end it
the customer who defines the organizational culture.
Trade, Finance and Big Data Analysis
The
industries that are the backbone of any economy such as capital and banking
sector are experiencing vast changes in their culture due to Big Data
Analytics.
The storage, exploration and interpretation of complex mathematical
equations necessary for analyzing trade and investment patterns has become much
easier that to without wasting money and time by stock traders and bankers.
A
culture has emerged where a high level of detail and specificity of Big Data in
terms of the financial industry has become more important and reliable than
individual reports.
Example can be had of Morgan Stanley Smith Barney (MSSB)
that uses predictive analytics to make better recommendations for their
investment in municipal bonds, stocks and fixed income.
How to Approach Big Data Strategies?
In
case your organization is willing to move towards Big Data Analytics then it
should be prepared to make fundamental changes to their business strategies.
Flexibility in terms of recruitment strategies would become necessity rather
than choice to utilize your best employees during peak hours.
In case of
marketing department, it would become more streamlined and efficient by
shedding ineffective advertising schemes thereby creating a healthier bottom
line and work culture.
Continue Reading
Continue Reading
No comments:
Post a Comment