What is Thick Data?
Thick data may be defined as the result of the collaboration that happens between anthropologists and data scientists. They work together to gain an understanding of the large amounts of data. As a single entity, they analyze data and seek qualitative information, including insights, motivations, preferences, and reasons behind consumers’ behaviors. This human-centered information digs deeper inside the data where big data fails and leads to better and effective decision-making, including product and service development as well. Thick data offers a qualitative approach that can add a contextual dimension to Big Data. The concept of thick data is based on the idea that raw data does not exist, implying that data is never fully neutral or isolated. It also implies that the context of data is more important than the data itself.
Business Benefits of Thick Data
- Helps to analyze and understand consumer behavior better.
- Creates more personalized experiences and products as well as services with data-driven business decisions.
- Enables companies to effectively segment their customers and develop sales and marketing strategies accordingly.
- Gives you a humanistic reality of your customers’ lives.