According to an article in Software Development on big data, Alexandra Weber Morales writes, “Google, Apple and Amazon epitomize this content-delivery era, though the search-engine giant is the only one built primarily on data analytics.” She goes on to quote Tim O’Reilly, “data is the new oil, the question isn’t where to find it, but what to ask it”.
What does that mean for business owners? We are now in the information age, and data is important information, so it becomes your focus to acquire data and do something innovative and profitable with it. Business owners often undervalue a database, but the right algorithm can turn your data into profit if you get creative. What do your customers want that they can’t get somewhere else? Answer that question, and combine it with the right algorithm and data, and your business will take off tomorrow.
“We’re about to get into the third stage of this industry, where algorithms are going to take control. The companies that can run algorithms at scale are the ones that are going to grow faster.” Bruno Aziza, Alpine Data Labs’ Chief Marketing Officer has said. Be on the pioneering edge of that, not trailing behind. You have a lot more data than you know, like data on your products, data on your clients, and industry data. Develop ideas on capturing more data, and what you can do with it. Next, talk to an algorithm expert (software engineer / software developer). Find the right combination and you’ll find your million dollar idea.
It’s another Bunch of ideas brought to reality!