How Big Data Has On Consumers

1401 WordsJul 8, 20166 Pages
Big data refers to the data sets whose size is bigger than traditional data base tools and contains the ability to acquire, store, manage and analyze data (Watson, H.J., & O. Marjanovic, 2013). Big data often has the following four characteristics, that is to say, it has a vast volume of data, fast transferring and dynamic system of data, a variety types of data and huge value of data. As the development of big data is faster and faster, the use of it also becomes broader and boarder, like researching on customers’ preference, taking it on military use and so on. This essay will mainly discuss the influences big data has on consumers. The most obvious impact that big data bring to consumers is convenience, and mainly in the following three aspects. First of all, the application of big data reduces the degree of information asymmetry for consumers and improve consumers’ contents. In the information era, the information transferring of goods has become an important added value for goods, and under this background, corporations tend to offer more information about the products or services they provide based on the Internet. (Gagnon, J.D. , 2013). Meanwhile, innovative business modes like C2B (consumer to business) emerged and consumers can customize products and influence the prices according to their demands for products, and even can actively involve in the process of designing, producing and pricing, highlighting the individual needs of consumers. There is no denying that

More about How Big Data Has On Consumers

Open Document