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What Start-Ups NEED to know about big data's velocity and variety!

In one of our previous blogs, Start Ups on a Budget explored the importance of big data for start-up companies and how valuable of an asset it can be. In a later blog we delved further into this topic by looking at the first of the 3 V's that define big data being volume. To show you how valuable big data can be for your start up business we will look at the other two Vs which are velocity and variety. Velocity So by now we all know what big data is and how it can manage large volumes of data which could not be done manuelly. This was the first V however what I find to be even more interesting is the second V which is velocity. Velocity relates to how the data is acquired in real time which is a tremendous attribute (Coforge, 2022). Think of a large company like Meta (previously known as Meta), Instagram or YouTube and the global reach each platform has. With such a large global reach each platform comes a higher volume of people creating a continous flow of data. Taking time dif...

Netnography: The Marketer’s useful tool for developing innovative ideas.

As Start-ups in today's competitive world require an advantage, we need to be aware of the basic tools for your marketing strategy, let’s start defining what is netnography and how we can utilize it. Customers are becoming more active online these days, and valuable information about their behaviours, opinions and experiences can be obtained from a variety of online platforms. This information opens new paths to personalized high-quality service. “Understanding customers is a key aim of service marketing research and an important requirement for successful service business practice” (Gummesson et al., 2014). Netnography is recognized as a valuable research tool for gathering and analysing online customer data developed in response to customers' increasing internet use (Kozinets, 1997), It is based on an ethnographic research approach to studying and understanding consumption-related aspects of customers' lives online and it is more relevant than ever in today's ...

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