What do you mean by contextual data?

This contextual data helps in forecasting and prediction process. It is a structuring of big data that attaches situational contexts to single elements of big data to enrich them with business meaning (e.g., instead of a customer record that tells you the customer’s name and address, data appended to this record data also gives the customer’s buying preferences, which is gathered from recent web activity data). The result is a more complete understanding of the customer and her lifestyle.

Contextual data is the background information that provides a broader understanding of an event, person, or item. This data is used for framing what you know in a larger picture. These relevant facts can be utilised to analyse your customers’ behavior patterns, thereby improving their experience.

Many industries use contextual data to get an edge and find unique ways to understand the information they’ve collected. Data isn’t produced in a vacuum. Contextual information can help companies better understand the details they’ve gathered about clients.