What is the role of Big data in transforming on-demand vehicle rental sector

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role of Big data in transforming on-demand vehicle rental sector

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Big data has been a boon to every online marketer and mobile application development company. With an ever-increasing dynamic market, comes an equally massive pool of data. The newly received data is not just massive in volume, but also in velocity, variety, veracity and value. These Vs are important aspects of data processing. Hence, Big Data is this new bulk of data that is always expanding on multiple horizons.



The monumental capacity of Big Data makes it difficult for android app developers to analyse and generate insight through a traditional data processing software. However, this huge pool of data is tremendously beneficial to business development, when analysed rightly. This is precisely where Big Data solutions serves their purpose. Now, before delving into the importance of Big Data, we must develop a better understanding of the important elements of Big Data. The important Vs, that make your regular data, Big Data.

Volume:

Volume is essentially the quantity of data to be dealt with. Generally, Big Data tends to be scattered from different sources, and unstructured. Depending on your type of business and varieties of media channels, your data could range from tens of terabytes to hundreds of petabytes. Social media channel feeds, webpage click counts, follower count, demographic track, and such, all accumulated together, is considered the entire volume.

Velocity:

Velocity is the speed at which the entire data is received. In general, the velocity is highest when the data is directly streamed into the memory, instead of writing it to the disk. With the widespread application of edge computing, the velocity of Big Data has significantly increased. Edge computing enables the data to be processed near the source of information, rather than traversing the data to a central cloud computing space. This feature allows the data processing to take place in real-time: meaning maximum velocity.

Variety:

Variety mainly indicates the format of data. Unorganised textual data, organised numeric data, video footages, audio clips, financial records, stock ticker data are few examples of existing formats. Now these new varieties of data, especially video footages and audio clips, need certain pre-processing to generate relevant metadata. This is particularly where tech developments like, edge computing, machine learning and augmented analytics come beneficial to all android app developer.

Veracity:

Veracity is typically the noise amount of the data. By noise we mean the disturbance present in the data. The data flow will often have a chance of inconsistency. Certain events and occasions may deliver such a sudden peak in the data flow, that the management becomes difficult.

Value:

Finally, the value of the data received to your actual business process. The data collection tools will fetch every possible data within its reach. However, it is not necessary that every data you receive is relevant to your actual business process. Which means, not every data you receive will help you draw actionable insights.

Big Data is the key behind the success of almost every existing business of 21st century. The main reason behind it being, the insight they provide on customers. The insight received through Big Data is comprehensive, accurate, relevant and fast. Among many, a business that benefits particularly from the rise of Big Data is the vehicle rental sector.

How Big Data is transforming the on-demand vehicle rental sector

Understanding how Big Data helps to transform -on-demand vehicle rental sector, is not a complex process. All one needs to do is to consider the five defining elements of Big Data. The earlier mentioned -Volume, Velocity, Variety, Veracity and Value. An increase and improvement in these five departments is a boost enough to change the shape of the business.



Transforming with volume

Android app developers of car rental services are no field personnel. They function primarily on the data received. Hence, a large volume of data is an indication for them to estimate the reach and penetration of business. A comprehensive study of the demographics and campaign engagement will generate valuable insights. Insights will produce actionable means for the marketing team of the vehicle rental services.

On-demand rental vehicle service is such a business that is yet to penetrate many parts of third world countries. Big Data with a massive volume of data on the demographics of followers and viewers will help the business understand if their campaign has succeeded in penetrating the targeted masses. Additionally, on-demand vehicle rental services run a lot on trust and reliability among the target audience. The comments on social media platforms are a gold mine, to evaluate the trust and reliability among masses. Hence, with an augmented volume of Big Data, your business will receive the maximum push of growth possible.

Transforming with Velocity

The mobile application development company employed by an On demand app development service must always use means to maximise the Velocity of Big Data. This is particularly a business that will highly gain from a real-time velocity. Let’s understand the reason for an example.

There has been a major infrastructural disaster near your business location. The media has not picked up the news yet. And, the situation critically disturbs your potential customers stuck at the site. They are in urgent need of vehicle services to get them out of the hassle. On the other hand, people present on the spot have started to comment and post on the social media channels. Some might have even started to share video footages. Now these comments, posts and videos are essentially your data. Now, if your data analytics is fast enough to receive a real-time feed, you will be alerted of this situation immediately. As a result of which your action will be way faster to that of your competitors.

Apart from the above-mentioned example, in general, a high-velocity Big Data will always place you steps ahead of the requirement. You will always have a strategy and actionable measure in place, much before the need even rises.

Transforming with variety

Variety, of course, is another determining factor in the development of your business. On-demand vehicle rental services deal directly with people. Hence, developing insights based on limited formats of data could get bothersome to the mobile application development company. Additionally, On-demand vehicle rental business calls for quick decisions and fast actions. Delayed by complicated insight generation process, you will contradict this unique requirement of the business.

For, instance, the data your android app developers have received are all unorganised textual data. Now before you receive any actionable measure, you will need to go through a lot of complex processes. First, you organise the data, then you filter it, then you clean it, finally, you generate insights and then you hand it over to the marketing team to strategize. By the time you have your strategy, the very need of it might fade away. However, if you have different formats of data, for e.g, video footages and audio clips, you can swiftly head towards the relevant data.



Wrapping things up

Finally, when we speak of generating insights from solely textual data, it involves complex algorithms to derive final meaning. Videos and audios, on the other hand, are self-explanatory.

Conclusion

Android app developers find the maximum benefit from Volume, Velocity and Variety of Big Data. Although never undermine the Veracity and Value of your Big Data. Having a clean data and data only relevant to your business and media channels will promptly bring down your insight generation time.

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