Data ecosystem – today companies process huge amounts of data collected from a variety of sources. To help companies control growing data sets and clean up data, many companies have provided services that help build a strategic data ecosystem within the organization. This ecosystem helps managers identify and select the right data sources, integrate data, and prepare full analytical algorithms. Common uses include: discovering new insights about customers, segment audiences, automatically checking KPIs, finding the best conversion channels, etc.
Data consulting – as global data volumes grow rapidly, companies need to know how to properly use it and what it really means for their business. That’s why data consulting is one of the fastest growing industries of the 21st century. Data consulting services help companies discover new insights from large data sets to grow their business or prepare for accurate and detailed analysis. These services use Machine Learning algorithms to quickly search for huge and chaotic data set-up to find useful information.
Audience segmentation – some Data Technology companies focus primarily on the digital advertising industry and provide solutions to identify the right target audience for customers. To segment audiences, companies use machine learning algorithms, e.g. Site categories visited by users to match the interests or purchase intentions of each specific customer. Customer groups are segmented according to the needs that can be used to target online campaigns.
Data Technology will be constantly evolving
It is predicted that from 2017 to 2026, the big data market will grow at a rate of 19.3%. This thriving market needs new tools to manage, analyze and apply data efficiently while supporting new technologies.