The Business of Big Data: Product

Throughout the month of March, G2 Crowd’s research department will share our insights around the topic related to big data software. Check back here, on the blog and on our social channels to read the latest.

This big data miniseries examines the way an imaginary toy manufacturing company, “Big Toy,” uses big data within its various teams: operations, product, sales and marketing. While the company is not real, its uses for big data are like those at real businesses around the world.

Today’s project managers are jacks of all trades. They need to manage teams with a variety of skill sets and objectives while communicating across departments.

Big data tools can benefit every kind of user from software developers, to sales persons. For project managers, big data can not only make your job easier, it can increase your team’s effectiveness and return on investment (ROI). For a company like Big Toy, using big data to optimize teams and the products it’s manufacturing has a major impact on the bottom line.

Managing Cross-Functional Teams

This process can cause headaches for any company because each team has different goals and paths that lead to them. Big data, though, can bring teams together by focusing on empirical evidence to identify each team’s goals and needs.

The project manager can show development teams what products will sell. They can show marketing teams who to target and what practices are effective. They can connect the dots between departments that once seemed miles apart. By properly analyzing big data, Big Toy’s project managers can suggest how to allocate production resources and where to spend its advertising budget.

Optimize Time & Resources

Big data shows users best practices through an easily digestible interpretation of previous practices. By analyzing trends and historical data, project managers can abandon project components that were previously deemed necessary. They can also accurately draw timelines and predict realistic goals.

Big data tools make it easy for Big Toy’s project managers to utilize the minimum number of persons and resources necessary to reach goals. If staff members can be better utilized elsewhere, project managers will know and move people around.

Increase ROI

Adopting a new type of software, like big data tools, may seem expensive, but it can effectively reduce long-term spending. Many companies, like Big Toy, utilize different tools across departments that serve the same purpose, and big data software can identify the most cost effective solution.

Accurate targeting and audience identification can also greatly increase Big Toy’s brand awareness and sales success. Instead of wasting time advertising or attempting to sell to unlikely buyers, marketing and sales practices can narrow the scope of focus, thereby increasing effectiveness.

Improve Accuracy and Security

With big data, companies save time testing features and evaluating functionality. Big Toy employees can create multiple prototypes and test them with real users to see which features resonate with their target audiences. Project managers can easily identify what both parents and children want in their toy and focus efforts on creating a specific product.

In saving time through abandoning unnecessary practices, project managers allow for more time to be focused on security and safely sharing information. Big data ensures Big Toy employees across teams in need of information have access to it, and allows safe transfers of data with customers and business partners.