The Term Big Data, Essay Example

The term big data from an economic and business stand point usually refers to sums of data that are larger than what the general population is use to processing on their home computers. These sums of data are large enough that traditional computer applications are not adequate enough to process them. Rather more advanced information system technologies are used to process big data.

According to a report from the Wall Street Journal back in May 2015, sports agencies are using big data to attract more consumers. Big data often contains records of people’s private transactions that take place in their everyday lives such as sales, purchases, loan applications, and credit worthiness.

This information is being conveyed to big data on a real time network and is then being sold to third party businesses such as sporting agencies. The sports agencies can then use this information to target specific prospective clients who meet a certain criteria based on the products or services that is being sold. For example, if a consumer appears to have a pattern of purchasing certain spots products such as t-shirts, or is making payments to a subscription magazine from ESPN, then a sports agency see that this consumer has an interest in a certain sport. They may then reach out to this customer through mail or phone and offer them deals on products or services related to their taste in sports.

Sports properties such as football stadiums are using big data to recognize patterns in their fan base such as food purchases, merchandise purchases, or the most popular ticket packages. The sports properties can then use this data to conform their marketing strategies to the desires of their fan base to boost sales revenue and stimulate the fan experience.