Covering Disruptive Technology Powering Business in The Digital Age

This article was originally published by onwindows.com and can be viewed in full here

Tyler Graham from Profisee argues that senior executives need to better understand when and how to leverage big data.

Most businesses today are looking to augment their traditional transactional and reference data by leveraging the broad-ranging insights and intelligence potentially available from external big data sources. However, before they can produce actionable data that can inform future business initiatives and drive revenue, these businesses need to find a way to refine the structure of big data and combine it with their historical operational data.

Extracting information from FTG’s billions of order transactions and matching it with the company’s unique customer records is challenging. But, because both the transactional and customer data is structured before it is stored, it can be easily processed using traditional data mastering tools. This provides FTG with the intelligence it needs to develop targeted marketing and promotional activities based on historical customer purchasing patterns.

Big data comes into play when FTG adds another data source – social media – to the mix. Social media sites contain massive volumes of big data, but because it’s unstructured, it can’t be readily processed or integrated with FTG’s existing customer information. To become actionable, big data must be structured using traditional master data management (MDM) tools, which then stitch together pieces of unstructured social media data and FTG’s structured transactional and customer data.

With its MDM tools, FTG can turn big data facts into actionable information.  Armed with this actionable intelligence, FTG can send each individual customer a free food delivery coupon. Once in the customer master record, this information can be used with geo-location tools so FTG can develop targeted marketing initiatives for customers in specific restaurants or sales territories.

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