As digitization continues to proliferate into almost every aspect of our lives, the amount of content that is created, distributed, shared and stored has grown exponentially. Over the past decade, this movement has given rise to what’s known as Big Data, aptly named for its vast and comprehensive nature. In turn, there has risen a separate sphere of expert professionals and technological systems aimed at dissecting this information and mining it for real value.
Gone are the days when a few hours of manual number crunching could help executives make sense of the inputs that pass through their desk every day. Now, sophisticated and advanced software platforms are required to help sort through the myriad data endpoints for actionable insights. These are no longer nice-to-have features, but rather required and expected components of a highly-functioning business that looks to profit and perform in the future.
The good news is that while the process sounds overwhelming, it is possible. A prime example is that of the open-source software collection known as Apache Hadoop, which has emerged as a critical player in this space, helping programmers and developers synchronize and integrate disparate data sets regardless of their platform of origination. Yet, while these solutions are being used and refined every day, there is another player in this game that should be examined thoroughly as well, and that is Voice over Internet Protocol (VoIP) technology. Today, let’s take a look at how VoIP and Big Data can work in tandem to deliver the business insights that C-suite leaders require to conduct informed and timely decision-making.
VoIP and Big Data: The Key Connection
Business communication looks different for every company, but the reality is that regardless of industry, the flow of information from both external clients and customers, as well as in-house teams and field employees, is expanding at a rate that we can hardly calculate. In fact, research reveals that every day, we generate a staggering 2.5 quintillion bytes of data.
That would be enough if we considered incoming emails, phone calls, business meetings and more as primary means of exchange. Yet, the emergence of VoIP technology, which delivers voice communications over Internet Protocol (IP) networks only serves to widen this data flow, adding yet another way that colleagues can communicate and collaborate around the world.
Moving forward, savvy business leaders will be those who harness the power of Big Data to refine and make maximum use of their company-wide VoIP strategy. Below are four ways in which they can achieve this aim.
1. Better Understand Customer Personas
One of the primary benefits of Big Data is that marketers are able to use information such as buying patterns, online web traffic, virtual shopping cart abandonment rates and more to better understand the actions and intent of their target audience. Though much of this investigation is done online, it can also be achieved via a VoIP phone call. Whether on the calling or receiving end, business leaders can use these interactive and media-rich phone conversations to learn more about the person on the other end and ultimately, paint a clearer picture of their ideal client persona.
Even gathering basic information such as a caller’s demography, purchasing patterns, employment status and more can be critical to the marketing mission. By understanding these factors, marketers can better ascertain what influences, if any, affect their buying decisions.
2. Analyze Finance Flow
A successful VoIP strategy is one that makes the most use of the technology and is implemented across departments, not reserved strictly for IT experts and tech-savvy businesspersons. As such, there are metrics that can be captured during the VoIP call itself to determine use case scenario, how much bandwidth is required, and who participated, among other details.
Leaders can then analyze this information to determine how to best manage and distribute incoming data via VoIP. They can also identify areas of under or over-usage where significant savings could be realized upon adjustment. Knowing which areas of the business are best served by VoIP can be an ideal way to direct costs, plan meetings and ensure a high return on investment.
3. Mitigate Data Security Concerns
Any time that information is exchanged between two parties, there is the opportunity for compromise. This true for both written and verbal communication, as well as on the internet, where virtual hackings, threats and attacks are becoming more common by the day. Though VoIP is an advanced technology, it is not immune to these vulnerabilities, either. In fact, the term is called Spam Over Internet Telephony, or SPIT, and it refers to third-party intrusion into an otherwise confidential and personal VoIP meeting.
Leaders can use Big Data insights to better understand call histories and caller backgrounds to determine what may have put the company at risk. The solution is even further strengthened when in-house security review measures are coupled with installed security software. Together, this two-fold solution can help businesses ensure that every VoIP call they make is secure, that personal information is kept confidential, and that any security threats are minimized and mitigated.
4. Improve Customer Engagement Efforts
A major part of an effective marketing campaign is knowing how to deliver targeted, personalized messages to your most valued customers. These are the people who fit within your buyer persona and whose purchasing patterns you are familiar with through Big Data analysis.
To this end, the information captured in a VoIP call can be relayed to marketers, who can, in turn, use it to craft compelling and engaging outreach strategies. For instance, teams can create opt-in mobile marketing strategies aimed at reaching customers during specific points along the path-to-purchase. They can also use GPS tracking technologies to pinpoint when prospective buyers are near their store, then use the SMS messaging app to send a personalized coupon code to encourage them to turn inside.
Making the Case for Big Data and VoIP
Ultimately, the more information that business leaders know about their prospective partners, customers and teammates, the better. While traditional communication methods have proved successful in the past, today’s techniques are far more advanced and tech-savvy, relying upon technology such as VoIP to create a dynamic and powerful presentation-based method of collaboration. As opportunities for working together continue to grow, so too does the ability for executives to understand who’s on the other end of the line.
Harnessing Big Data insights captured over VoIP technology can be a great way to make the maximum use of this investment. Moving forward, successful business leaders will be those who not only connect, call and hang-up, but rather, those who continue one step further and collect, analyze and act upon what they’ve learned.
