Authored on: Feb 11, 2014
Big data comes in two flavors-big transaction data and big interaction data. Big transaction data is the steadily growing volume of financial, customer, product, and other information in your organization's ERP system, data warehouses, CRM applications, and other back-office solutions, either on premise or in the cloud. Big interaction data represents interactions of customers, partners, and competitors that affect your organization. It is mostly external to your organization, scattered across the web. Information posted on blogs, discussion forms, team sites, customer service forums, product review Web pages, partner portals, competitor Web sites, enterprise collaboration applications, content management systems and other Internet properties makes up the bulk and the most valuable part of big interaction data. Growing at a phenomenal pace, big interaction data offers immense potential to deliver breakthrough insights and operational efficiencies that can transform business performance, growth, and profitability.
But how? Across industries, organizations are exploring how to extract business value from this fast-growing data source, but they face vexing questions about both technology and the business case for big interaction data projects. Where to start? How to get the really valuable data gems? How to make it all actionable? This white paper outlines real-world examples across industries in which big interaction data is put into action to build differentiation, drive revenue, deepen customer engagement, improve operational efficiency, and deliver better products and services.