IBM and Facebook Strike Big Data Deal
A steadily increasing number of retailers depend on big data to help them boost their marketing efforts. This push has created some market realities that has, in turn, motivated some interesting business partnerships. The latest titans to team up for the benefit of data analysis are Facebook and IBM.
It makes sense for a largely sales-driven business such as IBM to turn to a data-driven entity such as Facebook. And they are not the only one’s looking at the social media giant for access to Facebook’s all but inexhaustible torrent of customer data. Of course, Facebook also benefits. Just having all that data can’t help you if you don’t know how to analyze it. That’s where IBM comes into the picture.
In lieu of a financial deal, the two companies have arranged a mutually beneficial business arrangement where each provides the other expertise and protocols that they need to complete the big data profit funnel. And the agreement is good for customers as well. According to leading IBM representatives familiar with the project, the net result should be to provide both companies better opportunities to help customers. So, the companies can offer better service and a better product, and the customers enjoy a better online experience as well as the added benefit of customized products and services.
So, instead of both companies attempting to fill the gap in their own services, they are working with each other to offer better services without the extended costs associated with expansion or new development.
Of course, this sort of arrangement is not limited to big dogs on the block like IBM and Facebook. Smaller companies can easily scale the agreement to enjoy similar advantages — as long as they have a team or hire a team who understands how to make big data work for their business.
Jonah Engler is a financial expert who embraces social media and technology.