When businesses are able to effectively gather data on their customers and analyze it fully, they have boundless potential to improve their marketing, sales and customer service processes. There’s a long and winding road, though, from data collection to verifiable results. Finding a significant payoff from big data is far from guaranteed. To reach that point, businesses must have tangible plans not just to gather information, but to store it, analyze it and think critically about everything it entails.
Some companies, unfortunately, slip up somewhere along the way to analytics success. If they have any trouble with big data, either with data quality or creative thinking, it may leave them disillusioned with the process. This mindset can be destructive to companies, as abandoning big data can mean surrendering the potential to save millions.