Last week I had the pleasure of reading a blog post by Bill Schmarzo of EMC, in which he talks about how BIG DATA can help answer the question Who are my Most Important Customers? And if you can get past all the nerdish associations that come along with the term "big data," I’ll tell you why I was so excited to read the post…
Big data has the potential to open the minds of companies to a methodical way of identifying strategic accounts based on more than just pure revenue.
As more information becomes more readily available, companies will become able to allocate resources to a new set of "key accounts" – this time based on a combination of financial value, potential, and even anticipated partnership measures. This means that companies who may be small in value, but high in collaborative potential or who are considered early adopters or high influencers will be in the running to receive resources and treatment that aligns with their total value.
At Walker we’ve been advocating this kind of value mapping strategy for years (including here and here), but we do run in to implementation challenges as companies try to systematically determine measures beyond just sales or profitability… challenges that big data analytics will help overcome.
So here’s to big data, and to the big growth that companies will have access to as a result of it!