In the past, businesses relied on focus groups and surveys to collect data and understand their customers’ needs, likes and dislikes. However, these information-gathering methods may be superseded by social media platforms that provide instant access to critical data. Vast amounts of valuable information are added to the Internet daily, and many businesses are now focusing on how to collect, sort, analyze and use all that data. Big data therefore has some big implications for businesses, and some CIOs are now gathering to discuss strategies for putting data to work for their organizations.
For instance, the Metroplex Technology Business Council in Texas is developing a network for CIOs in North Texas so they can discuss what the future holds for their companies and their customers when it comes to big data. In fact, the focal point at one of the network’s recent roundtable events was the sheer volume of data that users generate through social media platforms. Data from social media allows businesses to understand consumer behavior in a whole new way, one CIO remarked. As a result, CIOs must maximize their ability to effectively use data that is generated by social media in order to stay ahead of the curve.
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