by Stephanie Rabinowotz | Jan 1, 2016 | Business Optimization, Customer Satisfaction
Even though marijuana is becoming legal in more and more states and a booming industry, people still tend to see dispensaries as “drug dealers.” What people don’t see is that now that marijuana has been legalized, the business is no long a shady transaction in a park, but rather a fully functioning production like any other business. Dispensaries now need to consider things like ROI’s, Customer Retention, and Efficient Production.
The more we learn about something, the better we can understand it. Don’t form your opinions about the marijuana industry without first understanding it. Listen to this informative podcast straight from the leaders in the marijuana industry, you may just learn something about marijuana that you never knew before!
Marijuana And Big Data – How Do Cannabis Consumers Trend?
by Stephanie Rabinowotz | Dec 30, 2015 | Business Optimization, Save With Data
As the new year approaches we all begin to dream about what the future holds for us. Everyone begins to make New Years Resolutions and promise they will change for the better.
Will this be the year my business really takes off?
How can I change my business to be more lucrative this next year?
One of the best ways to make changes in your company and ensure you stick to them is to implement a more efficient plan. Big Data Analytics is an excellent way to be more efficient- and the more efficient you are the more money you save.
Businesses must know how to use and manage their data in order to benefit from it. Here are three tips on how to utilize Big Data in your business to ensure the biggest ROI.
Hire the Right People
In order to understand Big Data it must be analyzed. This takes a certain type of person with strong mathematical and analytical skills. Data Scientists must be able to understand the different coding languages and crunch numbers quickly. This is a job that is not for everyone, but is a profession that is growing in popularity due to a high demand for analysts.
Use What You Have
If you already have an IT team be sure to utilize them, chance are they already have the basic knowledge needed for Big Data Analysis. By training the resources you already have you save your business time and money that would otherwise be spent on the hiring process. Having a strong team of data scientists is what sets successful companies apart from many others.
Don’t Be Afraid to Ask for Help
A lot of companies that use Big Data are not Big Data experts by any means. Depending on the company sometimes it is cheaper and more efficient to outsource your Big Data needs. There are an array of companies that specialize in Big Data contract work for other companies and can be a great asset when it comes to understanding your data.
The best way to make sure you get the most out of your Data is to look at your company and decide how and where Big Data can be most useful to you. Every company is different and therefore will use Big Data in different ways, but if you follow at least one of these tips you are heading in the right direction for improving your company this next year!
by Stephanie Rabinowotz | Dec 21, 2015 | Business Optimization
Big data is characterized by an extremely large set of data that must be filtered through by countless algorithms until it takes an understandable form. Big Data is utilized in many different areas, but one that tends to stand out is in marketing. Marketing researchers love Big Data because it is a much more effective way to receive consumer feedback. People no longer have to take surveys to let companies know how they feel because companies simply study their consumers habits. By observing consumer trends, companies have a much better understanding of what their buyers like and dislike about their products.
Many companies use this information and apply it to their consumers as a whole, but not all consumers are the same. Everyone is unique which makes every consumer’s trends different. Although Big Data has worked wonders for marketing research, these marketing specialists are beginning to realize they need to take Big Data to the next level. The idea of using Big Data in marketing was to better advertise to individual consumers based on their unique preferences. In order for marketing specialists to optimize their ability to target specific demographics they must use Segmented Data.
Segmented Data is big data that has been categorized based on similar groups. With segmented Data companies can receive data on all of the consumers who are all moms, or video game lovers, or outdoor enthusiasts. With this sort of organized data, companies know to advertise not only outdoor gear to the outdoor enthusiasts, but based on their shopping history- specific shoes, backpacks, tents, etc. Segmented Data allows companies to treat all of their consumers like individuals, making it easier for consumers to find what they are looking for and their overall shopping experience more enjoyable.
Segmented Data is something we will be seeing more of as Big Data continues to make a name for itself in all different industries. To learn more about the different ways Big Data is branching out,
Check out this Interesting Article!
by Stephanie Rabinowotz | Dec 16, 2015 | Big Data, Business Optimization
Even the most successful CEO out there is still human. No one person is perfect, we all display human characteristics and flaws. It is because of this that science uses objective data in their tests, because subjective allows for personal opinions. Objective data is the only information that is 100% unbiased truth. So how do businesses get this type of objective data?
By Using Big Data.
Companies that use Big Data allow themselves to see the hard truths about their company that they themselves would overlook. When we put hard work into something, we don’t want to see anything wrong with it which makes it hard for us to see when there are issues. Big Data is the fresh set of eyes that can examine all of the nook and crannies of your business to inspect the problem areas we would not catch on our own.
The other great think about Big Data is that it is cross cultural. Instead of trying to convince a company in China that you are successful by talking with them, it is much more impressive to simply show them the data. Put your entire operation into data form and it can be read across any language. Measuring success with data is a great way to standardize the definition of what it means to be successful.
Big Data has proven time and time again to be a necessary tool in the business world. So what are you waiting for? Go out and get started with Big Data!
by Stephanie Rabinowotz | Dec 11, 2015 | Business Optimization
Big Data has proven itself a loyal tool to businesses, but one must know how to use Big Data to release its full potential. Here are a few tips on how to utilize big data to make more accurate decisions and see your business with better clarity.
Baby Steps
Start small when introducing big data into your business. Don’t try to apply Big Data to your entire business at once, start with a small section and work out the kinks there. Once that test has proven true, start to utilize Big Data in other areas. This is the best way to make sure you are catching even the smallest problems within your business.
Be Clear and Reasonable
The easiest way to get out of hand with Big Data is to allow data fetish to sweep you off your feet. Many people believe they can just bring Big Data into their operation and voila! All of their hopes and dreams for their business have come true! Not so much. Businesses must clearly define their goals and put them in metrics, or something that can be accurately measures. You can’t just say ” I want to be successful by next year” you must instead define your goal as ” I want our ROI to be X amount by July of 2016″. Expectations must be realistic and clearly defined to see progress.
Not All Goals Are The Same
You cannot apply the same goal to every aspect of your business because they are all separate. Variable must be taken into account and adapted for when deciding the ROI’s for each project. It is important to remember in order to have clear, measurable success, you must start with being very specific. Make sure you consider the differences between projects and adapt accordingly.
Big Data is an extremely useful resource in the business world as long as it is applied correctly and managed tightly.
by Stephanie Rabinowotz | Dec 9, 2015 | Business Optimization, Project Management
Ever wonder if Big Data could be used in Law Firms?
When we think of a law firm we don’t generally picture a bunch of lawyers sitting around computers crunching data, but the reality is that there is a lot of paperwork and analysis involved in law.
The processes in law are long and rigorously documented, meaning there is a lot of information lawyers much go through when remaining educated on a case. This Big Data Lawyer enlightens us on how Big Data could be used to analyze documents, saving lawyers valuable time.
CLICK HERE to listen to this podcast and learn how
Big Data lawyers believe the utilization of Data Analytics in law firms could be highly beneficial!
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