Gross vs. net could be the comparison between Big Data and Smart data when treating the data, obtained through information collection tools, to be filtered with the aim of making your company more profitable.
Nowadays, companies have the need to know how to use the collected data over time. And, applying data processing tools, such as Smart Data, is necessary, for example, to analyse and measure data obtained from the impact of advertising campaigns.
The main goal of this concept is to turn gross into net, and then make sense of it. That information will, therefore, be used to design effective marketing strategies.
7 advantages of using Smart Data
In the business environment, Smart Data applications are increasingly advantageous as follows:
1) Cost-effective data management
Big Data has a high cost in financial, technical and human resources. However, Smart Data filter the overall data through processing tools and provide highly accurate data in real time.
2) Small business opportunities
It’s not necessary to process millions of bytes to drive a good strategy, but having a fast and sustainable data processing.
3) Added value
The result of using sieving methods, apart from the overall information processing, involves that each datum contains not only consumer needs, but also their behaviour.
4) Development of trend analyses
consumer-oriented marketing plans can be created in advance to obtain information about what consumers are really interested in.
5) Consumer engagement
offering consumers attractive and adapted content gives a good impression to them, and it is understood as a reward for their loyalty and fidelity.
6) Growth driver
managing data in real time improves the way companies exchange information between their customers and them, as well as allowing the company to develop new products and services.
7) Better human capital management
the use of smart solutions and new technologies in companies brings a better work/life balance with employees. It’s not necessary now to be at the office to have access to information and make decisions.
Users constantly share data about their actions and behaviour patterns. In regards to their daily life, data is collected and stored (Big Data), but only when Smart Data is applied to is when raw information evolves and acquires that useful added value for both the company and the user.