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Big gains from Big Data
Big Data technology lets you slice and dice unprecedented amounts of information from a wide range of sources, in near real-time. With data of sufficient volume, variety, and velocity, Big Data lets you generate unprecedented insights into your business and your customers—insights that can help you accelerate sales and grow your bottom line.
How to use Big Data to supercharge sales
There are a number of benefits that Big Data offers, but perhaps the most important one is that it makes it possible to understand your customers better than ever before—so you can monetize them better than ever before. With data from video feeds, motion sensors, and point of sale (POS) systems, for example, Big Data can help optimize in-store merchandising. And by letting you cross-reference all kinds of data—ERP and CRM data, customer service audio files, web browsing behavior, social media feeds, and so on—Big Data can help you target, engage, and convert customers more effectively than ever.
With Big Data, you can:
- Monitor customer sentiment and predict customer behavior, so you can be more responsive to your market and improve customer retention
- Predict market trends and stock sufficient inventory of popular products
- Reach customers when and where they’re most likely to buy, online or in the real world
- Personalize pricing and promotions to optimize conversion
- Personalize cross-selling and up-selling to maximize transaction value
- Tailor loyalty programs to maximize lifetime customer value
Whether you’re a consumer packaged goods company looking to better target marketing campaigns, a travel company looking to improve cross-selling and upselling recommendations, or a telecommunications company looking to reduce churn, Big Data can drive sales in a wide range of businesses—probably even yours.
Getting started with Big Data
In the past, Big Data was the province of enterprise businesses. Only they could afford the expensive technologies required—Hadoop clusters, NoSQL databases, etc.—not to mention an IT staff sophisticated and knowledgeable enough to turn that technology into business insights. Today, by contrast, there are increasingly affordable Big Data options even for smaller businesses.
For some small- and medium-sized businesses—those with some tech savvy as well as big, varied data sets—an out-of-the-box, on premise solution can be the most cost-effective approach to Big Data. Developed to augment existing data warehouses, HP ConvergedSystem 300 for Vertica lets you bring together structured and unstructured data and generate lightning-fast business insights, affordably and with an implementation time measured in days, not weeks or months.
Meanwhile, a growing supply of software-as-a-service (SaaS) applications are making it more affordable than ever for any business to drive sales using Big Data. Some examples are:
- Google BigQuery, which lets you make super-fast, SQL-like queries against massive data sets
- Search engine and website optimization solutions like those offered by BloomReach and Odiago
- Predictive marketing and sales analytics solutions like those offered by BigML, Lattice, Skytree, and Wise.io
- Social media monitoring solutions like BrandsEye and Salesforce.com’s Marketing Cloud
- Data visualization and presentation tools like those offered by InsightSquared, Roambi, and Tableau
- Merchandising-optimization solutions like Euclid
- Loyalty program solutions like FiveStars
The bottom line? No matter what your business is, or how big or small, Big Data can help you learn more about your customers and potentially increase your sales. It’s time to start driving incremental revenue with Big Data—and beat your competitors to the punch.
HP Retail Solutions
HP Big Data Solutions
HP ConvergedSystem for Big Data