Finance Module: Leveraging Big Data for Effective Company Sales

This report explores the application of big data in enhancing company sales strategies. It begins with an introduction to big data, defining its characteristics and significance in the current business environment. The report outlines the three main pillars of big data: volume, velocity, and variety, and then delves into additional dimensions like variability and complexity. The core of the report focuses on how big data can be utilized to drive sales, including strategies for price setting, customer analysis, and product improvement. It explains how real-time customer behavior and preferences can inform business strategies, and how big data facilitates the identification of customer pain points and opportunities for innovation. The report also details how to customize and sell big data solutions to companies, outlining the necessary steps from identifying data sources to finalizing a saleable product. The report concludes with a list of references.

Finance – Use of Big Data
for selling a company
Date : 06/03/2019

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Date : 05/03/2019

Table of Contents
Sl. No. Topics Covered Pg. No.
1 Executive Summary
2 3 Main pillars of Big Data
3 2 Additional Dimensions of Big Data at SAS
4 Use of Big Data to sell to company - Strategies
5 How to customize big data
6 Steps for selling the big data to companies

Introduction
 Big data literally means large volume of data
 It can be in structured form as well as unstructured form
 Amount of data is not important, but the purpose for what the same is
used
 Rising trend among the online and multinational companies to use
data as it helps in understanding the pulse of the market
 Helps in better and informed decision making and building strategy for
the business.

3 Main pillars of Big Data
 There are 3 main pillars of big data: Volume, Velocity and Variety
 Volume:
Huge Collection and repository of data
From sources like social media, online clicks, business
transactions, sensor information, machine to machine data
(Alexander, 2016).
Information growing exponentially in each year.

3 Main pillars of Big Data
 Velocity:
Availability of data at unprecedented speed
Devices being used like data sensors, RFID, smart metering, etc.
 Variety:
All the types of data points are present – from structured,
numerical to unstructured like audio, video, email, text
documents, etc.
It also captures online data like twitter feeds, Facebook
comments, etc (Jefferson, 2017).

2 Additional Dimensions of Big Data
at SAS
 Variability:
Data flow can be inconsistent at times but will be trustworthy
only after due analysis.
Daily and seasonal tracking of data can be challenging at times.
 Complexity:
With different varieties of data, linking, matching and cleansing
of data becomes difficult.
Thereby the need to correlate and connect the data through
relationship model and hierarchies becomes inevitable.

Use of Big Data to sell to company – Price
Setting
 Big data has a huge impact on the setting of prices set for company.
 Automating the products and price analytics as compared to
competitor data can help in understanding various factors of
difference.
 Some factors include customer preference, economic situation, sales
cycle length
 Dashboard on above factors with help of big data can help drive
revenue (Choy, 2018).

Use of Big Data to sell to company – Customer
Analysis
 Real time information on customer behavior, search and preferences
over internet can help in analyzing business strategy. Eg. Garments
and merchandise business.
 Analysis on the incoming and outgoing calls and messages can help in
evolving future plans. Eg. Telecom industries.
 The number of clicks or visits per sites for the variety of users age wise
can help in generating revenue streams. Eg. Facebook, YouTube.

Use of Big Data to sell to company – Better
Product
 Sales team job is easier when the product is good but how to transform
it from good to great.
 Big data helps in opening all the communication channels for customer
feedback.
 Helps in determining pain points and the future opportunities .
 SaaA can help in improving the customer experience by knowing what
is the actual requirement of the customer.

How to customize big data
 Big data can be sold by adopting the following strategy:
 Data should be dependable, understandable and interpretable with
highest level of quality.
 It needs to be customized so as to make it relevant to the user.
 The data should be presented in a segmented manner to make it
useful to the user (Heminway, 2017).

Steps for selling the big data to
companies
 Identification of the data sources – Primary and secondary.
 Organizing the data in the relevant channels and brackets.
 Conducting the requisite research and analysis.
 Setting up the terms and conditions and prices of the agrrement.
 Finalizing the product in a saleable form.