Role of Thick Data in Big Data Analytics - Ravi Namboori

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Role of Thick Data in Big Data Analytics
Presentation By Ravi Namboori Visit us
http//ravinamboori.in/
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Need

• Today majority of the global enterprises gain
  insights in to their business performance with
  the data related to customer preferences and
  market dynamics.
• Ever changing customer preferences are creating
  perplexity and driving global business owners
  under tremendous pressure that in turn influences
  the overall business performance.
• Global business owners are extensively using
  recent technologies and tools to collect the
  customer preferences data and come up with
  business strategies that gives them an edge in
  competitive market places.
• This scenario emphasizes the importance of
  effective mechanism to collect and analyze the
  customer preference data

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Big Data.

• Enterprises collect the data related to customer
  purchasing behavior and analyze it to derive apt
  marketing strategies.
• Big data quantifies the human behavior and gives
  insights in to what customers do on their own on
  a massive scale.
• It gives numbers, graphs, quantitative analytics
  approach
• Experts says that quantitative analytics approach
  of Big data itself will not give real insights,
  but it also requires qualitative reality of the
  customer behavior to derive marketing strategies
  

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Thick Data.

• Thick Data gives real insights in to human
  motivations, emotions and intent. It explains why
  customer behave in certain way.
• It gives real insights in to qualitative reality
  of the customer behavior and their daily life
  preferences
• Proper blend of big data and thick data gives
  both quantitative and qualitative approach to
  understand the accurate purchasing behavior of
  the customers

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Challenges..

• Lack of clear strategy for big data collection
• Weak data sources and unskilled in collecting
  thick data
• Companies need to have specialized resources such
  as anthropologists and ethnographers to collect
  thick data and observe human behavior and
  underlying motivations

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What it takes?

• Enterprises that plans to use big data analytics,
  need to be familiar with changing practices.
• Companies need to bring right talent, skill and
  tools in to data gathering, analysis and
  analytics processes.
• The power of real data enables enterprises to
  derive suitable marketing strategies that keep in
  sync with constantly changing customer purchasing
  behavior and market dynamics.
• Companies need to spend sufficiently to leverage
  best from the big data analytics

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Thank You
Presentation By Ravi Namboori Visit us
http//ravinamboori.in