Big Data is a term much like blockchain or cryptocurrency, that is promising to change the way businesses is done across various industries. Very basically, Big Data refers to any massive collection of data points that is too ‘big’ for traditional data processing methods. With mobile and internet technology allowing for the real time tracking of multiple data points on consumers, it is no wonder that it is called ‘Big.’
Companies like Google are focusing more and more on data collection and processing. All of its services, benefits, and interconnectedness happen because of the millions of users’ data it stores and analyses.
A massive amount of data does not mean that a company has ‘Big Data’, though. To find out where traditional data sets end and Big Data begins, companies need to evaluate it on the five Vs; Volume, Variety, Velocity, Validity, and Value. These points help to define what kind of data is being collected, from how many sources, and how relevant/accurate this data actually is.
Pro AV is also involved in the data collection process, for example companies can collect valuable consumer behavior information when customers in retail stores interact with touchscreen devices and use mobile technologies such as NFC and iBeacons. Combined with the right analytics techniques, pro AV can help businesses better understand their customers which in turn helps them to make better business and marketing choices.
With this data, businesses can, for example, choose what images to use in their digital signage and accurately track the signage impact on customers; how many views it gets, how many new customers come through the door, etc. With integration at both ends of the process, Pro AV is poised to be both a primary collector of Big Data, and a prime recipient of its benefits, in a sector that promises to be very soon a disruptor of multiple industries.
Because Big Data is naturally so tied up in marketing, professional AV is already seeing a return on investment from integrating Big Data into products, particularly digital signage, with its close integration into marketing practices.