By the time you finish reading this blog at least :
204,000,000 emails would have been sent, 2,460,000 contents of Facebook shares, 216,000 new photos posted on Instagram.
That’s how much new data is created every minute on the internet, every tap and click you make, leave a digital footprint.
Most of these data are then collected and called Big Data.
If the data can’t be managed through Excel or be analysed using SPSS (your typical software processing tools), that’s when it becomes Big Data.
Marketers always have a love and hate relationship with Big Data. Big Data could help managers to gather and interpret these data to gain further insights into Customer Behaviour. However, it is also a real challenge to deal with big data and not be data overload.
Like the video, Netflix is said as a perfect example of how businesses use big data to benefit their performance and why marketers love big data. More data available, the more accurate their analyse become. Netflix has 130 million users overwide, so they have a lot of data readily available to them. They examined watching patterns of its users, most popular shows, most watched actors, and favourite storylines.
From these data, they were able to determine ‘House of Cards‘, their own TV shows, was going to be a success before they even produce it. Which was proven, when the shows become the most streamed show on Netflix.
Big Data can be seen as a comprehensive tool for marketers to gain a competitive advantage and accurate insights as it is more representative and promptly.
How do you feel that businesses able to pick up our habits and are able to determine the outcome of a new product before it is even launched?
Winona Dewi 
I think data collection is very important towards a company, as it can determine whether a company is successful or not. Companies collect data as they want to know what each consumers’ needs and wants are in order to satisfy them. As a consumer, I think it is understandable for a company to collect our information before a product launch. Without data collection, the product probably will fail.
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Hi May! Appreciate your comment! I do as well think that data analysis has become a comprehensive tool for any business. This will also become easier to convince the shareholders as a company to invest in their productions.
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As a consumer, I think the as long as the benefits outweigh the costs I’m all for it! If they’re collecting this data to improve my experience rather than for some unsavoury purposes and there is complete transparency that they are collecting my data and what that collection is for, no harm done in my eyes
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Hi Ashley, i do also agree that customers are more acceptable of their data being used if the company provide worthwhile benefit to them!
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Great post, Winona! It seems very smart for a business to use big data to predict the launch a new product or service, because who wants to launch an unprofitable product? It’s fascinating that all these numbers and pieces of data are able to show how people will respond to a particular thing with such accuracy.
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Thank you, Kat. By providing these data, Netflix are able to convince the producer of the shows easier as well !
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Big data is heavily useful for businesses to gain insight as to what their viewers or consumers are interested in. This information is valuable to companies who are looking to produce a new product or a show, because they will be able to identify its success beforehand. Netflix must review the data they retrieve from their millions of users and it helps them satisfy their viewers needs, too. I believe that as long as this information is not miss-used, it is not harmful for companies to use it to their advantage.
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Hi Vanshika! Appreciate your comment here! It is indeed a difficult job for companies to make sure that the information they are gathering is also representatives of the customer.
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I think it’s brillant! It saves soooo much time rather than doing focus groups and surveys when all of the data is being handed to you directly, unconsciously by the consumer! I think the hardest part is using all that data, as you said it can be overwhelming in amounts so that would take a lot of umph!
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Hi Alex! yes, I agree with you. It is a top-class data that could also trust in their integrity since the data is internal. As they said real reward, comes with a real challenge as well, it could also be a challenging move for a company to process all these data.
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