Marketing 0

Big Data
Big data serves as the final piece of the puzzle. AI technology
requires a massive volume and a wide variety of data to train the
machine and improve the algorithm from time to time. The daily use
of web browsers, email, social media, and messaging applications,
especially on mobile devices, provides that. The external data
supplement the internal transaction data by providing psychographic
and behavioral patterns. What is great about Internet-based data is
that unlike traditional market research data, they can be gathered
online, in real time, and at scale. Moreover, the cost of data storage is
falling, and the capacity is increasing at a faster pace—making it easy
to manage the large volume of information.
The availability as well as the affordability of the six interrelated
technologies encourage academic and corporate labs to explore the
next frontier. It makes previously dormant advanced technologies
able to reach maturity and large-scale adoption.