Big data is the term used to describe data sets that are too large to be computed by traditional systems. In the modern era, the amount of data available on the Internet generates 2.5 quintillion bytes every day.
O big data came to forever transform like new online business are managed. Currently, virtually all digital commerce platforms and online services rely on large databases to enhance consumer experience and safety.
Big data is not just the future of online business: it’s your gift. To understand its impact, we need to look at the main changes that took place on the Internet after its emergence.
Big data can generate new business solutions
Technology is constantly changing, and the analysis of large data sets allows you to design new business solutions for customers. Big data also decisively impacts the effectiveness of advertising strategies, ensuring that the right ads are seen by the right people.
An example of how big data can make a difference can be found in the world of online games. The Internet has forever changed the way in which games such as poker or the lottery are played, but it was big data that allowed the main gambling services to keep abreast of each player’s preferences.
To realize the effectiveness of big data, just think about the Brazilian lottery Mega Sena. Currently, there are several options available to players that were not previously available. You can, for example, choose to bet on an arbitrary sequence of numbers with the help of a lucky number generator.
Big data can predict consumer needs
Whenever you access an online store, your activity is monitored and stored in a database. The data includes not only the pages visited, but also the time spent on each page, the number of clicks, or the completion of purchases. These data are used to predict the consumer needscontributing to a more satisfying online experience and greater profits for companies.
Big data draws on a large dataset to create custom pages for each customer. Pages are defined according to categories such as gender, age, or geographic location. Using big data, online stores are able to predict the preferences of each consumer and provide only the products or services that best suit them.
Big data contributes to safer payments
Finally, it is important to note that big data has helped create safer online payment systems. In combination with large databases, advanced algorithms can detect when unusual behavior occurs during a payment process. Thus, big data is able to separate normal payments from suspicious payments that may involve criminal activity.
Of course, big data is also used to encourage consumers to complete purchases by creating more accessible and effective checkout processes. In this way, online businesses can significantly increase their sales volume.