Business Planning with Big Data
Tuesday, November 2, 2021
With Big Data management techniques, companies can optimize their strategic business planning, by taking advantage of market and companies' data.
Big data has emerged as a powerful tool that organizations can use to leverage data-driven decision making for better strategic planning, determine which market niches of their products, are growing or shrinking, obtain traffic data of their stores or website, determining where they come from, what kind of devices they use, dwell time, and foot traffic patterns to help analyze which promotions and efforts are successfully driving their business.

"This image represents a mobility analysis and characterization of a point of interest known as Zona Rosa in Mexico City with geospatial data, using an additional layer of Facebook's relative wealth index."

Companies in different industries need to effectively manage their data, when planning and executing any business strategy, providing clarity in all internal and external aspects, from marketing and finance to operations, products, services, services.

Also Read: "Big Data to Estimate Competitors’ Turnover and Revenue."

Here are the steps to turn Big Data into information that helps define a company's strategic plans:

Goal planning

The first step is to focus on the objectives that data can help achieve, identifying the problems that need solutions or answers. This type of solution guides the collection of data that can help planning, adopting a balanced perspective of all elements of the business, gaining a clear understanding of how these data sources are related.

Data mining

The second step is to gain insights from multiple data sources, from social media interactions, smart technologies, sensors, meters, mobile devices, and countless other sources.

Since much of this data is generated through personal habits, behaviors, and activities, it contains valuable, actionable information that can inform decisions and help companies formulate more targeted, personalized business strategies.

Performing the analysis

After understanding business objectives and performing data mining, it's time to move on to the third step, analysis. Executing big data analytics requires learning a set of new tools and skills, such as location intelligence, mobility analytics, machine learning and predictive modeling.

Big data tools enable the use of predictive modeling and machine learning to generate information about future customer buying behaviors, information that can be used to shape business strategies and optimize business results.

You may be interested in: "Site selection with Big Data"

Take action on the plan

Once this analysis cycle is complete, the fourth step is to put the plan into action. Big data adds the critical element of being able to leverage actual results to verify that a strategy is working as intended. In some cases, this will mean readjusting the strategy. In other situations, unintended consequences will take the company in a new direction with a better outcome.

Checking the results

The last and fifth step is to make sure you are not relying on data sources that will lead you in the wrong direction. When planning and making business decisions based on analytics, you need to make sure you have a solid foundation of information.

At PREDIK Data-Driven we help our clients generate multiple options for their business plans and models to maximize revenue and optimize costs.

Request more information:
Last Name*
Telephone (choose your Country):*

Size of the Company:*
Yes, I want to receive a call from a salesperson*
this site is protected by reCAPTCHA and Google's privacy policy and terms of service.
Need assistance? Contact us
(506) 4001-6423
More on this topic
How to measure foot traffic in a wholesale market?
November 2021
POI analytics through Big Data techniques allows companies to understand an area of interest and thereby implement strategies, expansion models, and solutions within any business sector.
Information about a specific location or a set of similar locations can help companies make better decisions. Combined with additional contextual parameters such as human mobility, sociology, dynamics of an area, etc., POI data can be used to build meaningful information structures that enable more robust analysis and planning for expansion models. 
Footfall analytics: San Pablo vs. Guadalajara pharmacies
October 2021
Mobility analytics and location intelligence play an important role in business by helping to understand the behavioral patterns of consumers in any given zone of interest or point of sale.
Pedestrian flow analysis, location intelligence and point-of-interest categorization have revolutionized the way retail and wholesale industries implement expansion, commercial and operational strategies in the pharmaceutical sector.
Footfall analytics: Costco Wholesale Vs. Sam's Club
October 2021
Big Data technological tools and spatial data play a very important role in business by measuring footfall and helping to understand consumer behavior patterns in any given area of interest or point of sale.
Footfall analytics
location intelligence
point-of-interest categorization 
have revolutionized the way the retail and wholesale industries implement expansion, commercial and operational strategies in the franchised warehouse clubs.
POS Analytics based on Big Data
August 2021
Knowing and understanding the geographic distribution of points of sale in the retail channel can provide retailers with new opportunities to improve the promotion and marketing of their products and better influence consumers when making purchasing decisions.
When we talk about point of sale (POS), we refer to the place where a customer transacts payment for goods or services. It can be a physical store, where terminals are used to process card payments, or a virtual POS, such as a computer or mobile electronic device.
Business Intelligence
Costa Rica El Salvador Central AmericaGuatemala Panama Honduras NicaraguaDominican Republic
big data spatial data geospatial data data miningfoot traffic geomarketing Business Intelligencepredictive models machine learning Business Intelligence Corporate finance AdministrationHuman Resources Logistics Real Estate Mergers & Acquisitions Agriculture & Food Weaponry & Security Health & Medicine Insurance, Banking & Finance Services Hotels, Transportation and Travel Retail Administration Services RestaurantsHotels Technology Wholesale
Business Intelligence
big data
foot traffic
Daily Update Government PurchasesDownload brochure (only in spanish)Trade Inteligence Subscriber Access NewsletterContact Us MarketDataMexico Español
2008-2022 ©
Trade InteligenceWho we areContact Us