It’s a beautiful Monday morning in Singapore with people bustling in buses and MRT stations making their way to work. Somewhere in Bugis, the owner of a Sago shop (a F&B outlet specializing in a delicious Chinese desert) looks at her last week’s business reports and wonders, “I wish I had the power to know my customers’ liking even before they ordered…”. At the same moment, on the other side of the town, a mango seller is loading up his truck hoping to find the right customers where he could get more value for his specially imported mangoes.
As the owner of the Sago shop opens her shop’s Facebook page the mango seller is checking out the orders received for the day. Although the number of likes have gone up in the FB page, she is not aware how a sentiment analysis could be done on the people who have liked the page. Also, if only she knew that her customers are already talking about the delicious mango sago they had last night over social media, she could come out with an offer on the particular to attract more footfall.
Similarly, the mango seller takes note of the fruit shop and juice shop outlets that have ordered. He is worried about the excess stock which he might have to undersell. There is no one to suggest him that he should consider the Sago shop as a premium customer and deliver an exclusive batch of mangoes to increase his value proposition. The solution to these problems might not be of data but, analyzing the already available information and finding the value in it.
Ladies & gentlemen, the above story is based on true incidents happened over 3 years. Now, both the characters of the story are involved in a strong business relationship and till date serve the best Mango Sago in town. Such common business issues have made us wonder whether holding information and not seeing a pattern in it to improve business is innocence or sheer negligence.
As the amount of data from the Global IP traffic branches out to exabytes and zettabytes, so is their value. Companies gain an edge over their competitors solely due to data sourcing and cleaning. Companies employing analysts to make sense of their data are moving ahead aggressively. Soon, there will be a world where data would be the universal currency and businesses would transact with their knowledge stored as data.
At this juncture, Tuple Technologies would love to share the opinions of people from a variety of industries and markets on what they believe is the value for making sense of the so called Big Data. So, moving forward, we will interact with statisticians, data scientists and analytics teams of various multi national organisations. This will be purely to understand the supply side, i.e. the analysts, on how they see this industry’s growth and how each market is responding to this game changing business segment.
Alternatively, we shall discuss with C-level executives of a plethora of industries to identify what is that they are looking from the information collected on their customers, how they are leveraging that information to gain an upper hand over their competition. We hope that the blog will bring out adrenaline pumping, mind boggling revelations.