When it comes to the data that helps brands and marketers understand what impacts their actions have in the marketplace, does size matter?
Citing insightful information provided by Mozenda – – which helps companies collect and capitalize on mammoth quantities of web data by putting said data into a structured data feed — this red hot topic was recently taken up by tech writer Mackenzie Martin.
It goes without saying that the term “Big Data” is thrown around a lot, but the truth is that any data can be helpful to marketers. Although big data describes large sets of data that are available online, even extraction of smaller amounts of key information can be instructive.
“Although big data is one of the quickest ways to improve a business, many companies still lack the ability to deal with large datasets,” notes Martin. “Fortunately, there are many data extraction companies that help their clients easily gain, sort and understand large sets of information. This information can then help companies preform important business operations like increasing their revenues.”
But how much is too much — or too little?
“As online content becomes increasingly diverse and is produced at a higher volume, many companies are unsure how much data they should collect,” says Martin. “Overall, data extraction companies believe that it’s what one does with the data, not the amount of data, that counts.”
So — like another topic with which we’re all familiar — it’s not the size, per se, it’s what you do with it.
“Organizations are often surprised that small data extraction projects help them reap great rewards,” Martin continues. “For example, collecting data that helps a company reduce their cost can be very simple and require a small amount of data. Small data sets can also help companies optimize their products and services.”
Ultimately, size is not as critical as what brands and agencies do with the data. And luckily, companies expert in the techniques of data extraction are making it easy for any company to acquire information they can use to improve their businesses and their bottom lines.