Data for companies’ decisions today and tomorrow

The importance of high-volume data – Big Data – available at companies may lose from its importance in the next period.

These days more information is available than ever before and companies must be able to process and analyse it. Nowadays when we are talking about data companies prefer to use the terms ‘better’, ‘more precise’ and ‘real time’ instead of ‘more’ – revealed Nielsen USA’s Consumer360° event held in San Antonio (Texas) at the end of June. Cindy Davis, executive vice president of global customer insights and analytics at Walmart told at a panel discussion that their main task now is to utilise a sensible volume of data with the biggest efficiency, in line with retail’s speed. Tara Walpert Levy, Google’s marketing manager responsible for global advertising said today it is better to have precise data than lot of data, because they can make the difference between a company’s decisions today and tomorrow. Gayle Fuguitt, director of the Advertising Research Foundation stressed that without well-utilisable, real time data decisions can’t be made and knowledge can’t be shared in the right time. Cindy Davis added that only one thing is worse than too much data: old data.