Big Data Isn’t Always The Right Data - OCO Connect

Big Data Isn’t Always The Right Data

Within the technology industry, you often hear the term ‘Big data’ – with that can come the assumption that big data means better data. In certain industries this might be the case, but it is important to understand your market and ultimate goal – too much data can become unmanageable and irrelevant.

When you hear the term ‘Small Data’ it doesn’t necessarily mean having a small dataset, but more so having the right data. Selecting the right dataset will allow you to become more targeted in your approach and achieve better results.

In terms of FDI, the number of Greenfield FDI projects registered each year is relatively small compared to the number of companies trading globally. To put it into context there are tens of millions of companies worldwide compared to approximately 13,000 Greenfield investment projects each year – only a small number of companies will ever have the propensity to expand internationally. Therefore, having access to millions of companies can be detrimental to what you are trying to achieve. It can create the impossible task of having to dig for relevant information. That is why VELOCITI chooses to focus on key targets within the markets that matter.

VELOCITI is continuing to build on this theory of adding the right data for our clients. For example, China and Japan are two of the largest source markets for FDI and the Asian market as a whole is continuing to grow each year. With that, we feel these key markets should be reflected as we grow the platform. In September’s latest buildout we added approximately 17,000 new companies, with 67% of the companies added coming from the Asian market.

As we continue to grow the size of the VELOCITI platform we will continue to analyse the key markets and sectors trends, ensuring we add the data that matters most.