As a company, it is so important that you understand your target audience and your customer’s preferences. What age/sex are they? What interests do they have? If you’re an online bookshop, but you have people who are interested in technology coming to your site, then you’re doing something wrong. These are the wrong sort of customers, and likely won’t buy anything from your site, because they’re not actually interested in books.
Big data provides all this sort of information for your company so you know if you’re attracting the right audience. But firstly, what is big data.
Big data is a large amount of data and information that you can collect to learn more about your customer’s habits and interests. It can help you learn more about your customers, and what they might like to buy from you. You can find trends in big data, e.g. do most of your customers browse your website in an evening, between 7pm and 8pm? Or do they mainly buy products on a weekend morning?
These may seem like small facts. You may be thinking, why does this make a difference to my business? But knowing this information makes you more powerful. If you know that your customers visit your site most frequently on a Saturday morning, you can set up a big sale that begins at this time. You can announce the release of new products at this time, making sure that the largest number of people will see it.
If your clients are mostly students (aged 18-22), you might want to set up a sale in August, ready for the start of the new college year in September. These sorts of clever marketing can bring in more sales and more revenue for your business.
So how can you go about collecting this data?
It can be a bit daunting to try and gather data when you’re starting with nothing, especially as a small business. You can begin by offering a free downloadable document from your website. To download it, your customers might have to enter some information such as where they’re from or their date of birth.
Also use a free software such as Google Analytics. It gives you real-time data but also data over the weeks and months. It tells you which pages are the most popular so you can work out your best selling products or services. It’ll even tell you the interests of your customers.
Once you’ve collected some data, how do you analyse it and use it for your benefit? You can get some software that helps you out, such as the electronic laboratory notebook. You can easily create and search data, even real-time data.
For more facts on big data, you can check out the infographic below! #NurturingData