Home » Global Trends » 14 Future Trends to Which the Convention Industry Needs to Pay Attention to in 2015 2. Utilization of Big Data which Began in Earnest

14 Future Trends to Which the Convention Industry Needs to Pay Attention to in 2015 2. Utilization of Big Data which Began in Earnest

2. Utilization of Big Data which Began in Earnest

Definition of Big Data

Big data can be defined as a computer’s capacity to analyze large and complex data for the marketer to practice differentiated strategies to find trends and patterns of the market and how the public thinks, acts, and selects/rejects goods or advertisements.

Analysis of Big Data which Integrate Information in Social Media

For example, Chevrolet has been analyzing Tweets on a recently launched a new sport car which called Corvette in the last few months. By analyzing big data shown in Twitter, the Chevrolet can grasp how its product is recognized in the market and adjust commercials or a social media program to beat its rivals such as BMW or Mercedes.
Accelerated Utilization of Big Data with Advancement of Technology

Big data analyzed at an early stage is a good analytic tool as it can be helpful for a marketer’s guide, social media campaign, and development of products. When big data appeared for the first time, companies did not have enough capital or technologies to utilize them. However, BDaaS (Big Data as a Service) appeared recently, and the cost has been reduced considerably, which means even a small company can make good use of big data with a small budget nowadays.

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