The confluence of internal company information and the explosion of external information due to the social network boom has created large volumes of data that need to be structured and analyzed to make them a valuable tool, Matías Gil, US data warehousing provider Teradata's (NYSE: TDC) country manager for Chile and Peru, told BNamericas.
"All this information that until today has been internal information, generated by the company, is now called big data because it's complemented with external information coming from the boom of B2C, B2B and social networks, which create large volumes of information," Gil said.
Companies currently need to complement these two sources, but the information is not always structured, which presents a new challenge. In addition, the external volume is higher than the internal.
But whichever the source, the trick is how to process that information, how to draw knowledge and, on top of that, how to do it all in the fastest possible way to help make not only management decisions, but also operational decisions, according to the executive.
"We are talking about large companies, with large volumes of internal information such as sale transactions and customer management, among others. In Latin America, these companies are traditionally banks or financial services firms, telecommunications providers and retail companies," Gil added.
The big data trend is seen in companies with many business units, millions of customers, customer loyalty cards and even credit cards that can be used in associated shops.
In this scenario, Teradata is facing increasing demand to combine its data warehouse solutions - the company's core business - with analytics.
The data warehouse gathers, almost in real time, all the information coming from different transactional systems in a company, such as accounting, products, sales, marketing and customer care.
With the acquisition of Aster Data Systems this year, Teradata can now also link a company's internal information with the vast amounts of external unrelated or unstructured data.
And by acquiring Aprimo last year, the company added cloud-based integrated marketing software that reinforces Tits campaign management and integrated marketing manager offerings.
This allows companies to make a segmented analysis of clients and launch targeted marketing campaigns according to the information processed, client behavior and feedback provided.
"Large companies are increasingly concerned about developing digital strategies; some have even created management units devoted to that area," Gil said.
Given the high penetration of social networks in Latin America, companies would be missing an enormous opportunity if they were to fail to take advantage of these channels, which offer the ability to reach almost all clients on a one-to-one basis.
"These channels are not just a way to monitor what clients are saying about my products and my company, but also what they are saying about the competition," Gil highlighted.
"This is an unmeasured business opportunity, but to take advantage of this you need to be able to process large amounts of information."