Big data is becoming a key method to gain value in competitive markets. With the rise of multimedia, social media, and the Internet, the volume and detail of information available to enterprises is exploding. Companies in a variety of sectors including retail, healthcare, manufacturing, and advertisement are able to conduct controlled experiments to improve management decisions, forecast sales patterns and likelihood success of new products and promotions. The ability to commercialize users’ information for targeted ads has been crucial for the success of companies like Facebook and Google.

Next to get into the game is Bell Canada who has lately announced its plan to begin gathering customer usage data to sell for ads. This will consist of monitoring Internet activity including the websites and searches customers look into, use of apps, the TV programs they watch, and their calling patterns. There are several issues concerning privacy in the big data world but this is where companies need to find fitting talent and technology to optimize the use of this information. Big data will bring new levels of innovation, competition, and productivity.

Articles: http://business.financialpost.com/2013/10/28/crystal-ball-of-data-may-soon-help-companies-better-tailor-pricing-policies-and-launches-to-future-events/

http://www.mckinsey.com/insights/business_technology/big_data_the_next_frontier_for_innovation

http://www.cbc.ca/news/technology/bell-data-collection-part-of-disturbing-trend-1.2223949