Big Data Analytics in this age of digitalmarketing will affect your company culture irrespective of the fact whether your company builds software, provides marketing services or selling life sized posters of your hero.
Big Data Analytics is offering information and once the information has been learned it is changing the business culture.
The Big Data is a revolutionary concept that is bound to affect the company culture that can be best compared with our Stone Age ancestors who underwent enormous cultural changes with the discovery of controlled fire.
When exposed to advanced, specific information in the form of Big Data, organizations do undergo a cultural change and if it is not affecting the businesses then somewhere you are not using the Big Data Analytics as it should be.
In which specific way does big data would affect your company culture is dependent upon factors such as the type of data you have and how and what you intend to do with your data.
Big Data analysis when done in a proper way will reveal certain consumer trends, customer profiles and customer demands. For instance, Nordstrom – An American upscale fashion retailer with 225 stores and doing over $10 billion in annual sales has done some interesting experiments with Big Data to learn how it is affecting their culture.
How Big Data Analytics is Affecting Various Sectors are discussed Here in Below:
Human Resources and Business Culture
The Human Resource or HR department plays a pivotal role in the culture of a business and through big data analytics, the HR managers can examine at the hard data of the concerned candidate to be recruited for their organization. Through this data, the hiring managers can analyze the benefits and possible drawbacks of bringing in the candidate or prospective employee on board. Big Data Analytics helps the hiring managers in arriving at fixed and more specific company culture by hiring potential staff.
Big Data and Marketing Culture Role of Big Data Analytics
Big Data through streamlined analytics enables organizations in shedding up their inefficient practices that is more prevalent in traditional marketing practices in terms of wasting money and time through advertising media in the form of radio, television, print ads and social media.
Through big data bases and effective analytical tools organizations can exactly calculate where their revenues are coming from and on which campaigns they are wasting their time and valuable funds.
Through Big Data organizations can advertising campaigns can be run as per the changing image of the customers or consumers and in the end it the customer who defines the organizational culture.
Trade, Finance and Big Data Analysis
The industries that are the backbone of any economy such as capital and banking sector are experiencing vast changes in their culture due to Big Data Analytics.
The storage, exploration and interpretation of complex mathematical equations necessary for analyzing trade and investment patterns has become much easier that to without wasting money and time by stock traders and bankers.
A culture has emerged where a high level of detail and specificity of Big Data in terms of the financial industry has become more important and reliable than individual reports.
Example can be had of Morgan Stanley Smith Barney (MSSB) that uses predictive analytics to make better recommendations for their investment in municipal bonds, stocks and fixed income.
How to Approach Big Data Strategies?
In case your organization is willing to move towards Big Data Analytics then it should be prepared to make fundamental changes to their business strategies.
Flexibility in terms of recruitment strategies would become necessity rather than choice to utilize your best employees during peak hours.
In case of marketing department, it would become more streamlined and efficient by shedding ineffective advertising schemes thereby creating a healthier bottom line and work culture.