How can one make money from big data?
My answer to How can one make money from big data?
Answer by Frank Wesley:
If you have the understanding of what Big Data is and how leading companies are now moving beyond the challenges of how to make Big Data available in one place for managing it to allowing hundreds or thousands of people to use it in ways that create real business value, you may want to consider analyzing consumer behavior data to generate revenue from targeted advertising.
Social media companies have truly led the charge in commercializing Big Data. Many of them are investing in understanding the behavior of the people using their media and then feeding that behavior data into tailored advertising/promotions and content generation.
Badoo, the world’s largest and fastest growing social network for meeting new people, is a free service that generates its revenues from advertising sales. Badoo is an example of a social media company now using its customer behavior data to generate content targeted at the interests of specific users.
IsCool Entertainment is an online gaming company that created a new business model around Big Data. They analyze which games people like and what they’re doing with online games so they can present targeted advertisements from their customer companies that want to advertise to consumers as well as shape their product development of new games as advertising platforms. As with all advertising, the more you can advertise to the right people, the more you sell and the more money you make.
Just my insight on a new and potentially lucrative field.
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