Data is the new age currency. Over the last two decades, companies have been gathering information on the various aspects of their customers. Companies servicing institutional clients create a large pool of data. The user base engaging with a variety of content keeps the audience pool intact.
The scope of technology companies is increasing at a rapid pace. The change from being an institutional aid to reaching out to end consumers is adding a new dimension. The coverage now includes sectors like Food, Agriculture, Medicine, real estate, .etc. The servicing of such sectors needs business intelligence applications to make use of the vast data pool.
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The Birth Of Search Engines
Internet Explorer, one of the pioneers to give us a glimpse of the world beyond internal storage. Little did we know that we required space to search for anything and everything. The incorporation of Google from a garage by Larry Page and Sergey Brin in 1998 changed the entire internet.
Google is the world’s largest search engine. The share of Google’s search volume is around 70%. The top search engines in terms of their popularity and search volumes are:
Sailing through the engines and finding information for your business is not the only task. The ability to build insightful reports and draw impactful business plans are of paramount importance too. It requires the knowledge of business analytics and intelligence software and tools.
There are many BI software in the market; Microsoft Power BI is one of them. Power BI training is convenient for data analysis and its interpretations.
The course training module includes data modeling, visualization, and analytics. You can avail the online classes yourself and track your growth in the dashboard.
The successful completion will help you decipher the data efficiently. An efficient reporting will have an impact on business growth.
Advent Of The Social Media
Mark Zuckerberg’s creation of Facebook has led to a change in the social interactions of this era. People prefer to communicate and share information digitally, avoiding physical interactions as much as possible.
The shift in behavior has given birth to the Social Media giants of this era. The most popular social networking sites include:
The user data, gathered over time across geographies, is helping these sites to offer the advertisers with options to target customers basis:
- Age group and Gender
- Interest groups and liking
- Participation in various influencer groups/community
Bloggers, influencers, brands, and small business owners, use Instagram for its ability to send out a crisp message using an image. The Explore option showcases content based on the user’s search history and interest.
Facebook, with 2.5 billion active monthly users, mines the largest pool of data. The resulting intelligence helps advertisers with a detailed targeting option. YouTube is the second largest search engine by volume after its parent Google. If the content is a video tutorial or a product review, then YouTube is the apt site.
A booming start-up ecosystem is giving rise to the launch of technology-based companies across different sectors.
E-commerce and Food Tech Applications drive the second most traffic after the social networking ones. DoorDash, UberEats, Grubhub, and Delivery Hero are a select few who top the food delivery space.
The use of customer preferences and order timings is helping these companies shape the app. E-commerce sites like Amazon, with one of the largest pools of customer data, drive new verticals.
Data captured by the Agrotech companies like AgNext, Unnati Agritech, or Meicai help the farmers understand
- Crop Health
- Irrigations Needs
- Pest Infestation
- Warehousing Availability
- Supply Chain
The medical sector with options to record and track patient data can determine the need for a doctor visit or a particular drug.
So, if you are in business, then BI and data analytics have to be the chief considerations. The rapid growth of digital farms gathering data will help decode consumer behavior more efficiently.
In the future, the developing AI collecting every minute data of all human actions might tell us when we need a good or service even before we realize it. The data on our sleeping patterns and lifestyle choices can tweak our habits in the future.
The new age empires will not be on gold mines or oil refineries but data mines. These will capture, decipher and predict the customer needs for a particular good or service.