Big Data has huge implications for Hyderabad’s economy and property in Hyderabad as well. Powerful data which is deciphered by humans with the increasing aid of Artificial Intelligence shall power companies and give them the ability to sell products and services to an increasingly smaller and smaller niche of customers. Wisely deciphered output from Big Data should enable marketers to accurately predict when a particular individual will pass through a certain life stage and require certain services or products. Business has become far sleeker and selling far more narrow and can be targeted towards individuals as opposed to larger segments of the population. A casual approach towards embracing Big Data and its potential as well as associated AI technologies will likely leave many of the wealthy who live in luxury apartments in Hyderabad to become subservient to foreign companies and likely turn them into a data point of Big Data to which marketers pitch products.
The potential of big data to predict customer’s tendencies and isocracies shall enable marketers to push specific products to customers at the time when they are highly likely to be bought. Already much of the shopping is done online and online marketplaces are booming. Big Data needs to be embraced by Indian IT majors if IT employees in Hyderabad expect to continue to live in a swanky real estate in Hyderabad. European IT companies such as SAP already claim to have Big Data capability which allows them to predict certain specific lifestyle decisions making it far easier to sell to specific individuals at the time they are most likely to buy.
Although much of what has been understood about Big Data may seem like science fiction, its impact is not to be underestimated. Marketing may soon become far more exciting with the aid of Big Data, for instance, a company that sells large portrait photo frames may push a product to a close relative of someone who has recently passed away. Such niche marketing is easily possible with Big Data and companies in effect will now sell to individuals rather than to segments. In some ways, the term Big Data may be synonymous with Big Brother who is always watching the citizens of a country. However, this may be the only way forward to make new businesses viable and to make existing businesses competitive. Gathering information about customer’s online activity is a crucial input for big data to work; many customers already don’t feel reticent about concealing their online activity as they know that products they are interested in will be pushed to them at appropriate times by companies. Although Big Data is powerful, its usefulness in India and its large rural population with sparse online activity will be limited.
However, this should never mean that Indian IT companies develop Big Data technologies for foreign companies and neglect to use Big Data domestically. Innovative ideas may bring many in the hinterland online and create new consumers in a huge domestic market. Facebooks attempt nearly a year ago to provide free internet basics to all Indians were likely an attempt to shore up its Big Data capabilities. Thankfully the offer was turned down by the TRAI as it would have made it possible for Facebook to gain valuable insights into the mind of a sizable chunk of India’s population which the company could have used to turn people who have relatively recently been freed from the scourge of colonialism into passive buyers of products from companies who have paid Facebook to use its Big Data capability. In the future, top builders in Hyderabad using Big Data capabilities of domestic IT companies could successfully pitch residential apartments in Hyderabad with an attractive EMI to a young couple in love only hours before the groom proposes marriage to his bride to be. Big Data would allow builders and developers in Hyderabad to predict accurately whether the young women would say yes to her suitor, such is the power of Big Data.