Can Big Data Analytics Make Your Life Better?
The development of the world wide web in the 1990′s brought about the vast spread of information to the masses. Not only was this new access to information provided a means of multiple sources of undiscovered revenues, but the back end side of the workings of the internet analytics has led to becoming one of the most powerful marketing tools utilized in decades. The data capturing abilities that large websites have been able to collect in recent years were never fathomed twenty years ago when web browsers were first developed.
In the past, marketing sized the penetration of an advertisement and trends by using focus groups and hard numbers from sales. Today, we see the power of the internet analytics to accurately predict the depth of penetration and also the personal patterns of individual customers. With the likes of Amazon, Google, and Facebook coming to mind that have harvested the strength of data, will these companies be able to accurately predict the future demand of a need before a need is recognized?
The analytical systems that are connected to websites allow for companies to discover the small bits of information such as location in the world of a user, what operating system they run, screen resolution, what type of web browser they are using, and etc. This information collection was very basic until the likes of Google joined the online data mining industry. Google felt that the more data collected and organized very well, the organized data would help develop a vivid picture of the end-user. Which would allow Google and partners to directly market based on their member profiles.
Google has been a class example of organizing large harvests of data that is able to be mined. So much so that their search engine actually is able accurately identify biological outbreaks based on search requests on symptoms of illness. With the power of analytics and personal profile, Google could take the illness symptom search data even further by taking into consideration of demographic profiles of the end-users. Google could start pairing up the personal info of the ill within a certain region and could provide the statistical data to health care services to be able to have supplies of staff and resources to support the increase in illnesses.
Just think, one day businesses and governments could increase reaction time of offering supplies for recovery faster than we can today because of the power of analytical software. With consumer activist groups fearing over individuals are giving up too much personal data to companies because it could be used to sell products that they think they don’t need, why not consider that the information we give up will assist our surroundings in improving supply consistency for dramatic increases in demand. Historical data can help provided expected ranges of fluctuations in demand, but it does not pinpoint accurately exactly when events will happen. With real-time data that is mined by analytical algorithms, companies and governments can have a fluid and fast paced reactive systems to directly target increase in demand for product or services.
By running a website that digs deep into the personal life of its end-users for big data, can society benefit if all of the mining networks work together in sharing the information to governments and other companies to increase supply based on demands that are developing before the need is recognized? This can be a scary reality for some individuals, I however welcome the idea of analytical profiling as long as it helps the greater good of society and not as a tool to increase evil domination of financial greed.
Magic 8-Ball image from Wise to Web