Big Data technology, or “big data” is now in trend and everyone knows it. Business based on “big data” today has great potential, in fact, the area of Big Data can be attributed to the technologies of the future… Big data tends to take into account the behavior and interactions of people – these are very important factors in formulating a business strategy.
What is Big Data in today’s digital world? Big data refers to voluminous, large-scale arrays of structured and unstructured data.
Today, the flow of information and its fast processing is the most valuable thing in the world. Look at the security sectors of most countries in the world, they are investing huge financial resources in intelligence gathering.
Large amounts of data are analyzed to provide invaluable information. This is why the term data analysis is widely used in the business world.
Business and Big Data: 6 Profitable Big Data Startup Ideas
Research business for different market areas
It is a business of conducting a variety of research on its own initiative or upon request. The main task of such a business is to collect and analyze data in order to obtain comprehensive information on a wide range of business issues.
Key areas include market trends, competition and consumer behavior (attitudes of consumers and society towards brands, products, perceptions, bias, etc.).
The business model is to charge for research in different areas (conduct a variety of studies to order), or sell ready-made research in different areas of business, science, medicine, etc.
You can conduct your own research, structure the collected data and analyze it in such a way that it can be bought by businesses or companies.
You can often hear discussions about companies like Facebook selling data to other large companies. Yes, maybe this is not tactful on the part of FB, but it should also be understood that this is a business, and that data can be monetized – especially big data.
Digital marketing services based on Big Data
Now let’s look at digital marketing and big data. If an entrepreneur does not understand how digital marketing works today, he is missing out on a lot in his business activities. By digital marketing, we mean online and social media business marketing.
The main secret to effectively using Big Data platforms for marketing purposes is understanding data analytics. If you have a lot of resources and technologies and are aware of how data analysis works on Big Data platforms, you can successfully provide digital marketing services to many companies.
The truth is that many companies today do not fully understand, or do not understand at all, how digital marketing works, so you can make money by providing digital marketing services using “big data”.
Sharing business using Big Data
Shared consumption is an enterprise model where savings are achieved through sharing and today it is a business trend. For the sake of “sharing business”, consider Uber. Entrepreneurs simply created a platform that connects customers and those who can provide them with the services they want.
Shared consumption companies thrive on big data technologies. Around the world, there is a sharp increase in the number of such enterprises in various fields of activity.
The idea is not only to copy the idea of Uber as such, but to think about what other services of this kind can be offered to people and the world.
Text mining or data interpretation services
Most of the big data is processed using algorithms. Even at the most basic level, Big Data can be analyzed statistically. What happens to text data? Yes, they are also analyzed.
Text data analysis is the extraction of numeric metrics from text data. These numerical parameters can then be easily analyzed, drawing important conclusions and answers from them.
Examples of text-based “big data” are e-mail messages, social media messages, to name a few.
Thus, if you are good at text analysis or data interpretation, you can create a company that provides these essential services that most businesses and corporations need.
Internet trading based on “big data”
A large amount of data is required to build and launch online platforms that facilitate online trading. Did you know that e-commerce is the biggest catalyst for global business?
Business in this area will only scale, new platforms and services will appear. E-commerce is characterized by the constant collection or receipt of large amounts of data.
Interpreting this data is what can guarantee e-commerce profits.
Content creation using Big Data
This is one of the simplest and easiest big data businesses now it is available to everyone and many people successfully use it and create a business named after themselves.
Just find a way to create a variety of interesting content: blogging, video channels, social media accounts, podcasts, and so on.
Your focus will be on big data and big data topics. You will struggle to drive traffic to whatever platform you use in order to ultimately gain a huge, loyal, and ever-growing stream of subscribers (and therefore future customers).
In the process, you will find advertisers who will contact you to place ads. Their goal is to gain access to a huge number of your followers. You can even just advertise that you are offering ad space on your platform and generate income from that. It will take some time to build up the number of subscribers, for this you need to publish engaging, high-quality content on a regular basis.
The world’s largest companies are successfully using Big Data in their business. A business using Big Data will definitely scale and spread across different areas of activity. What can I say, just start using Big Data in your business.