By Drew Hamilton, EVP, Teletrac, www.teletrac.com
Big Data and telematics work hand in hand to provide you with a bevy of information to enable more informed business decisions.
The tools in understanding consumer markets have changed significantly with the advent of new technology. The use of Big Data is among the most powerful of these methods, allowing a privileged look at consumer trends far richer than what traditional market research can provide.
Big Data provides an intimate view of user activity and behavior that can help uncover industry shifts, potential areas for growth, and new market opportunities, which can inform smart business decisions. An arsenal of digital information, consumer data is mutually inclusive of everything from GPS software data to digital media and social interaction, amongst many others.