Many businesses that operate online have been using data for years to collect information about their customers. They use this information to inform decisions about how to move their business forward and stay ahead of the competition. However, these processes have been vastly improved in recent years due to the ability that businesses now have to collect, store and move this data in extremely large volumes.
Big data is not only allowing new types of businesses to develop online, but it is also helping businesses that have been established for a while to move forward in a way that they have not been able to previously.
Long gone are the days of waiting for customers’ box-tops to arrive via snail-mail in order to glean some information about who was buying your product.
Being able to connect with customers directly and offer them products that are based on their past purchases and other information that is held about them has long been considered a very effective marketing technique. It allows a business to create a personal relationship with their customers and can increase customer loyalty.
By being able to gain access to this data faster, these offers can be made to customers immediately. When they are browsing a website, suggestions can be made based on the products that they are viewing. Using data that is on file about that customer means that these suggestions can take into account past behaviour and inform them if there is a different product that will better suit their needs.
The use of data has affected few industries quite as much as it has the banking community, especially when it comes to fraud detection.
One common way that fraudulent use of credit and debit cards is identified is when the card is used to make a purchase that does not reflect the usual buying pattern of the card holder. When information about how a person uses their card is readily available, it is easier to flag up any purchase that seems out of the ordinary.
This has the potential to stop the transaction before it is carried out, which will benefit both the consumer whose card is being used, and the business that receives the fraudulent payment. Such speed and accuracy in the transfer of data seemed impossible just 20 years ago.
The logistics industry covers many different areas and most of these can benefit from being able to store and send data quickly. This helps the logistics company better plan how they will deal with all the packages that they have to deliver and, because information regarding the packages is available virtually in real time, any changes can be implemented when they are needed up to the moment of delivery. Organisation of the warehouse can also be better managed when this information can be accessed whenever it is needed.
The ability to send large files is something that has been useful for many businesses across different sectors. The changes that have been seen recently in the way that data is managed has highlighted the importance of investment in IT systems for all businesses, not just those that are directly connected with IT.
Author – As technology evolves, it is likely that the way that data is used will advance further, which will lead to higher usage across all manner of industries. And state of the art business file sharing companies like Maytech are allowing companies of all shapes and sizes to send and receive files in a way that suits them. Find out more about Maytech online today.