The Realities of Big Data for B2B: Very high to very negative returns – B2B News Network

Big Data is a tool most people immediately associate with B-to-C channel, rather than B-to-B. That might be because, in the former, there are tens or hundreds of millions of customers and an exponentially larger set of data points. And that would be wrong, according to a sampling of observers and practitioners.

A range of observations from industry participants combine to provide a kind of best practices for how B-to-B firms can take advantage of Big Data. The focus has to be on how data is gathered and processed, with emphasis on elements such as using a single authorized source of data, using scorecards managed by well-trained employees and managing business rules to make sure data is accurate and believable. Any company thinking of using Big Data sit down with a firm and be “interviewed” by that firm to break down goals and then have software tailored to that because one size does not fit all.

Of course, this costs money and the upfront expenditure—for potentially mixed results—may be daunting to many businesses, especially the smaller ones.

Source: www.b2bnn.com

Negative inasmuch as the cost exceeds the benefits. No doubt. Spend the budget on predictive.

 

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