Data is something that businesses have long valued, especially in the digital age. But what about the everyday consumer? Can the so-called “Big Data” boom really have a positive impact on the day to day lives of you or me? The answer is yes. In fact, most of us are already reaping the benefits of the massive amounts of available information – in many cases, without even realizing it. Here are five such ways below.
Enhanced experience with brands
Ever notice how a certain brand you like tends to send you offers for the exact kinds of products you prefer? That’s not by chance, of course. They’re using the data created by your previous interactions to customize and target their messages and offers to you. What’s more, the ability to collect feedback digitally through avenues like online reviews, social media and brand mentions on the web enables companies to hone and improve the service they provide, which is better for everyone.
Better product offerings
Every couple of years, Apple comes out with a “new and improved” version of their most popular products. Those improvements are due in large part to the availability of Big Data. The internet contains a wealth of information about what consumers want from the products they use. Just think about how much lighter and slimmer laptops keep getting. Thanks to the ability to access so much valuable feedback, brands are able to rapidly adapt and respond by offering improvements that match what consumers want.
Protection for your personal information
You may think that having so much data around would make protecting your personal information more difficult, but the opposite is actually true. In fact, Big Data plays a pivotal role in identifying potential and/or recent security breaches. Industry leaders, like IBM and RSA, offer solutions to help companies and individuals alike stay a step ahead of cybercrime. As a result, consumers can feel much more confident and secure transacting online with reputable brands.
The Internet of Things
Wearable devices, smart appliances and other connected technology are all products of the Big Data boom. Just consider the growing popularity of digital virtual assistants, like Google Home, Amazon Alexa and Apple’s Siri. Where do you think those programs get the real-time information they use in response to requests we make of them? It all stems from the data being produced and gathered on a minute-by-minute basis.
Fitness trackers harness the power of Big Data to get us moving and improve our activity levels. Likewise, physicians and medical device companies are using the vast repositories of data and analytics to develop and deliver better patient care. For instance, today, someone with a condition like diabetes can easily monitor their blood sugar levels without having to call or visit the doctor frequently. As a result, people are able to take more control over their health and wellness, manage ailments more effectively and ultimately live more improved lives.
Big Data is typically talked about in terms of its value to corporations, but based on the many benefits highlighted above, it’s clear that data has some pretty significant advantages for consumers as well.