Datafication: venturing into the unknown!

Datafication is a process that captures almost every aspect of the world as data. With datafication, interactions can be quantified easily with the help of big data analytics. Data is generated for almost everything ranging from temperature readings to social media. This data is useful for analyzing patterns and making predictions about the future. These predictions not only improve business efficiency and finances, but also boosts customer experience and improve relations with the customer. Big data's tools' ability to extricate insights from the collected data have led to a new information revolution of sorts. Universal applicability is another exciting opportunity in this field. The future of retail commerce seems brighter now as datafication is here to stay. Read more at:http://insights.mastercard.com/2015/07/06/datafication-the-new-buzzword-for-business/