Big Data is a new front runner that companies are taking advantage of now more than ever before. The adoption of Big Data in 2017 reached a high of 53%; an exponential increase from the 17% who used Big Data in 2015. With a number of companies optimizing their strategy using Big Data, it’s time to uncover what Big Data is and how companies can leverage it.
What is Big Data?
Before we jump in, let’s talk about what exactly Big Data is. Big Data is a large volume of data that a business generates on a day-to-day basis. This data can consist of anything from user’s personal data, commerce transactions, social network data, to user behavior. The opportunities Big Data provides are endless and companies of all sizes have the ability to take advantage of this resource.
How Big Data is Used?
Companies have the ability to use Big Data to their advantage. For ecommerce companies, the remarketing and retargeting capabilities are highly valued and can narrow down exactly what the consumer is looking for based on their User behavior and past purchases. Have you ever been looking at an item online and left it in your cart or just decided against it and left the store page then later you start receiving ads for that exact item? Well, this experience reflects companies using Big Data. By using the data collected from your cookies and user behavior, they have managed to retarget you on different ad platforms like Facebook, Google, and Bing. With more popular websites opening their doors to advertising, it’s likely you’ll start receiving more targeted ads.
Not an ecommerce company? Don’t worry, there’s a ton of different ways you can leverage Big Data. From things like using data to predict your optimal seasons, to how your customers like to be interacted with, you are sitting on a wealth of information that can improve your business.
How does RingPartner use Big Data?
RingPartner sits on a wealth of important data generated from the millions of calls we produce each year. Using Big Data, RingPartner standardizes our business processes allowing us to track stats on operational efficiency. We also leverage our Big Data to help sort and rank client bids in real-time. Our platform handles around 5 - 40 inbound requests per second! That’s a lot of different requests circulating per second and by using Big Data, we can sort and rank this information quickly.
We don’t stop there! On top of these two key ways, RingPartner uses a proprietary algorithm to calculate various probabilities based on the Big Data produced. Using these algorithms, we have enhanced our Real-Time Call Bidding system, ensuring that we deliver the highest quality of calls to our Clients at the exact moment the consumer is ready to buy. Using Big Data, RingPartner can help you harness the power of an inbound sales-ready call!