With technology behind, companies now implement more precise strategies and a lot of thought in order to dominate the market.
The drastic increase of technology in the last past decade affected many different aspects of our society; from watching movies to drive a car, from watching news to call the loved ones. Despite these seem to be simple aspects of our everyday lives, this massive change in technology also affected how economies work, how politicians reach the audiences and especially how companies make business.
Business is not anymore just a simple practice of bargain. With technology behind, companies now implement more precise strategies and a lot of thought in order to dominate the market. With this increase in technology, the customer also increased their power and decision making when purchasing a product. Especially with increase in competition, companies understood the importance to research and study the customer in order to create the most perfect product. This is where the concept of big data comes into play, which drastically asserted its influence in the business world in the last past couple of years.
Big data is generally described as to be voluminous amounts of high velocity data used by businesses in order to study and understand specific information regarding patterns and behaviors of specific customers. It is information used that can be obtained from everywhere, for example the internet, social media, smart phones and any other tools that mostly deal with digital content, which is used to build strategies in order to improve the company’s performance in the market and outrun direct competitors. But how really important is big data in companies nowadays? Former BBA student Nicholas Schiena briefly explained what it means to deal with big data on a daily basis and how important it is in the business world.
1) What does your professional career consist of at the moment?
Business development Europe for a Big data company specialized based in Madrid.
2) Can you please briefly explain specifically what does your job consists of?
Management of the Italian market, development of strategies, lead generation, CRM and management control of main KPI’s.
3) What is big data and how does it relate in the business world?
Extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions. It is key to understand customer needs and therefore provide exemplary service.
4) What is the best way to obtain the most relevant big data?
Be up to date with the best technologies available, for lead generation, CRM and the best software for cloud computing that allows you to manage efficiently big data, which optimizes consequently your data science, data architecture and therefore Business intelligence.
5) In general, how is the relationship between business and technology in the current business discourse? In this case, how does this aspect relate to your job? Is it a relationship that will become stronger?
Technology is the base of our business, being a big data tech company we heavily rely on technology, being key for both our business units. It will definitely become stronger as we will need to adapt new technologies to survive in the marketplace.
6) How will you see in the future the relationship between business and technology?
Technology is essential for business nowadays and will become a critical factor for competitive advantage.
Big data clearly is probably the most essential tool used nowadays by companies in order to build their successful strategies. With daily increase in competition, big data assumes more importance day by day, and it’s a trend that surely will increase enormously in the next years. The important aspect to understand is in which way to deal correctly to such a huge amount of information with such a strong exponential growth. It will be curious to see how big data will evolve on the business world in the next decade and see if it will assert to be the perfect toll for companies to dominate the market and increase competitive advantage.