Role of Thick Data in Big Data Analytics

Presentation By Ravi Namboori

Visit us: http://ravinamboori.in/

Need…… Today majority of the global enterprises gain insights in to their

business performance with the data related to customer preferences and market dynamics.

Ever changing customer preferences are creating perplexity and driving global business owners under tremendous pressure that in turn influences the overall business performance.

Global business owners are extensively using recent technologies and tools to collect the customer preferences data and come up with business strategies that gives them an edge in competitive market places.

This scenario emphasizes the importance of effective mechanism to collect and analyze the customer preference data

Big Data…. Enterprises collect the data related to customer purchasing behavior and analyze it to derive apt marketing strategies.

o Big data quantifies the human behavior and gives insights in to what customers do on their own on a massive scale.

o It gives numbers, graphs, quantitative analytics approacho Experts says that quantitative analytics approach of Big

data itself will not give real insights, but it also requires qualitative reality of the customer behavior to derive marketing strategies

Thick Data….Thick Data gives real insights in to human motivations, emotions and intent. It explains why customer behave in certain way.

o It gives real insights in to qualitative reality of the customer behavior and their daily life preferences

o Proper blend of big data and thick data gives both quantitative and qualitative approach to understand the accurate purchasing behavior of the customers

Challenges….. Lack of clear strategy for big data collection Weak data sources and unskilled in collecting thick data Companies need to have specialized resources such as

anthropologists and ethnographers to collect thick data and observe human behavior and underlying motivations

What it takes? Enterprises that plans to use big data analytics, need to be

familiar with changing practices. Companies need to bring right talent, skill and tools in to data

gathering, analysis and analytics processes. The power of real data enables enterprises to derive suitable

marketing strategies that keep in sync with constantly changing customer purchasing behavior and market dynamics.

Companies need to spend sufficiently to leverage best from the big data analytics

Thank You

Presentation By Ravi Namboori

Visit us: http://ravinamboori.in