When you give a name or a purpose to that Big Data , a technology company improves its processes and operates more strategically in the market.
David Lati says that when we give Big Data a path, the technology business starts to grow, since it can provide greater certainty, it is predictive, it provides trends, statistics and probabilities for decision making.
The EXATEC in Computer Systems even assures that other interesting macedonia telegram lead businesses can be generated through Big Data, to evaluate consumption patterns , prevent natural disasters , extract information for disease prevention and for the personalization of treatments, aspects that cannot be seen, but that are in front of us.
“Actuarial models in surveys, through predictive algorithms, and with Big Data, all of this can be crossed with other data sources to generate a better prediction, through the analysis of predictive and prescriptive algorithms,” he explains.
Osvaldo Mercado of MavTek Inc believes that if a company is not currently using Big Data, it is falling behind in business, regardless of whether you have a technology business or not.
“An example: if sales of fried chicken increase at a certain time, and here we have the data to confirm this, you produce more at the time, day or season when sales are highest. Another example that surprised me is that of zoos in the United States, some of which already use Big Data to know when they should increase ice cream production,” he says.
The profitability of technology businesses
David Lati of LDM comments that the profitability of technology companies depends on the goals they have.
That is to say, although there may be very large companies whose financial results are not necessarily good, that does not mean that they are not profitable, since their strategy is different: disruption .
“We have financial examples of very large companies like Uber, which has had very large financial risks, but whose business model is more aimed at the future and at disruption,” he says.
Another example of disruption is e-sports . With video game competitions beginning to experience exponential growth, betting models, and this technological business has found a niche that is generating greater cash flows than some traditional sports.
Latio believes that the level of profitability of technology businesses, startups or growing technology companies depends on the use of the agile methodology , which tests what works and what doesn't work, what consumers like and what they don't like.
“These big bets are made by making small bets, always minimising the financial risk and increasing the probability of success, because the most important thing is that we have a changing world and a changing consumer,” says Lati.
Entrepreneurs in technology businesses
Osvaldo Mercado recommends that those looking to start a technology business from scratch first train themselves or find a team of engineers to build what they want to materialize in digital.
“You have to define which side you’re on and start hammering away . What do I need? What do I know? What kind of engineering service do I need to hire? What programming languages do I need to learn to be able to do certain things?” he suggests.
Mercado says he has met many entrepreneurs starting digital businesses who choose to learn programming languages because they themselves want to have some control.
Big Data to grow business
Re: Big Data to grow business
Big Data plays a crucial role in driving business growth by providing deep insights into customer behavior, optimizing operations, and enhancing decision-making. Companies leveraging data analytics can better predict market trends, personalize services, and improve overall efficiency. For instance, industries like transportation have successfully utilized data-driven strategies to scale their operations. If you're considering entering this space, here’s a useful guide on how to start a taxi service like uber, which highlights key aspects of building a data-powered business model.
