Big Data, Big Problems?

By: Myriam Rofrano, Social Media Coordinator and Brand Analyst

For the last half a decade, big data has been heralded as “the next big thing.” We’ve heard stories of the potential big data can bring and the potential it can have to improve your business. As time goes on, and as big data becomes a common term, we find more and more the importance of small insights. Small insights allow you to glimpse into your individual interests. The issue now becomes how do you harvest out the important and relevant information for your business?

When sifting through massive amounts of data, there are a few principles to base the data on to keep insights relevant to your business. We explore them below:

  • Personalize Your Results - From the consumers’ point of view, big data can cause mass confusion. The only way a customer can truly understand data is if it is refined and personalized to the his or her needs. One example of this is the Restaurant Social Media Index (RSMI). Through our RSMI, we can harvest targeted information and create reports on topics like Millennial and menu trends that are useful for operators in the restaurant and hospitality industry.

  • Get to the Point - Less is more in this case. Presenting more data isn’t always better, especially if the data isn’t ordered in a comprehensive, digestible way. Giving your consumers relevant information in a direct fashion will allow more users to utilize your data, as well as understand it. Think about it like this; Google is one box where you can search anything. Be like Google and keep it simple.

  • Keep it Relevant - In order to produce information valuable to the consumer, the content must be relevant. For example, a restaurateur may want to know what beers Millennials are drinking this season so the operator can keep it on tap. However, the same operator may have little interest in what kinds of foods millennials are eating because they own a bar with limited meal options. Your data should be relevant to consumers, otherwise they may stray to another source that caters to their needs.

  • Keep it Timely - Giving your consumer the right information at the right time is pivotal to the relevance of your data to the consumer. Giving your consumer spring trends in the summer is not relevant or timely, making your information useless.  

Understanding what the data means is only part of small insights. Learning how to use the combination of data from technology and devices, along with behavioral science, can be a recipe for success for any restaurateur looking to get the most out of small insights.

Read more about small insights and how to utilize it to its full potential here.