Branding – Why A Company Needs It?

Ever wondered why some products or companies take you on a walk down-the-memory-lane? It's because of the brand the company creates. A brand is a bridge that connects you to the company; it is what represents the company.

What is a brand?

A brand is not limited to eye-catchy logos, powerful ad campaigns or peppy slogans. It is much more than that. A brand is a result of the many experiences that a company creates; whether with employees or with customers, with communities or with shareholders. Over the years, these experiences transform into emotional bonds that these groups have with the company. 

A brand is the identity of the company. It is the image of how the rest of the world perceives the company. A brand helps build a reputation, have an edge over the competition, cover a larger customer base and establish the company in the market as well as in the minds of the customers. Perhaps that is why, people have a strong affinity towards the products or companies that remind them of their childhood.

The importance of branding

If a company wants the customer to pick its product from the shelf where other similar products are sitting too then, a branding can help deliver this result. A powerful branding helps in differentiating the company or product from the rest. With each passing day, new business ventures are setting up. The competition is growing each day. In such a scenario, a well establish brand will help the company stand out and have a distinguished image in the minds of the customers. 

Moreover, a brand name helps in effective marketing of the business. A reputation in the market allows the company to set a mark for itself hence, the potential customers already know about the company and its products and do not require any introduction. This will save a lot of money and time that is spent on introducing the company. Therefore, while a newbie company is spending a huge amount of money and time to introduce itself, a company with a brand name focuses on expanding the existing customer base.

Branding also helps in promoting the company along with its products. Many a time, the company becomes a brand name for its product. The classic example is – Xerox. The brand ' Xerox' has become a synonym for photocopying. This is the power of branding. Once a company becomes a household name, it faces no challenges to increase its customer base, or venture into new markets.

Additionally, branding helps in the building trust of the customers and results in loyalty. Customers give tags to the products or companies. For instance, iPhone is tagged as brilliant technology, Mc Donalds is tagged as quality and affordability. These tags that people give to products or companies are based on the experiences they have with the companies or products. Once a brand enters into the trust circle of a consumer, the loyalty of the customer towards that brand or company deepens.

For any business or company, branding is an important consideration that should be taken care of when setting up the company. A brand helps in connecting to the customers and building an emotional bond with them.

Big Data – The Bigger World Of Opportunities & Growth

Let's not get into what the dictionary says about Big Data, we know what it means, what we are here Today is to understand what it really means.

We already know that Big Data is an ever-expanding chunk of large data sets which include all the digital information that floats in the virtual world. This collection is so massive and complex that it is an arduous job to process this much information using our traditional data processing tools and applications.

As a business, when we look at the expanding universe of Big Data, we see limitless opportunities. These opportunities are expanding in two horizons. One is for the corporate and business world, while other is for the Big Data management industry.

For Businesses And Corporate Houses:

Big Data is spinning enormous amount of information with each passing minute, and corporate and businesses are extracting this information to gather data based stats on consumer behavior, market trends, economic conditions, etc. and alter their strategies accordingly to deliver high impact business decisions. It is an opportunity to gain never-before insights of their business and various crucial systems. This in turn, facilitates better decision making and prognostic business growth.

Businesses that realize this opportunity and implement analytics and tactics to benefit from the information that Big Data provides, to improve upon their strategies and working, will no doubt gain a competitive edge over the rest.

For Big Data Management Industry:

According to a recent report, Big Data is expected to become a $25 billion industry by 2015. The growth rate is fueled by industries across various sectors like, retail, manufacturing, telecom, financial services and healthcare. The compound annual growth rate of Big Data is 45%. 

The figures are a real treat for IT companies as they gear up to dominate the international markets with effective and reliable Big Data management solutions. In this scenario, the Indian IT industry is surely in for a rocket speed growth. Tech gurus are predicting an overwhelming growth of the Indian IT industry, growing from $200 million in 2012 to an astonishing $1 billion in 2015. The compound annual growth rate is expected to be approximately 83%! Needless to say, India will be an IT hot spot for the rest of the world.

Indeed, the coming years will witness exceptional growth and dynamics in the field of Technology, data-sharing, knowledge sharing, analyzing information, and the way businesses operate.
As of now, businesses, corporate houses and IT professionals are waiting with anticipation for a lot more to unravel.