For the most part Big Data has been tied to the banking, retail and tech-heavy industries, as more businesses look to this analytical and risk management tool to increase profits and efficiency. But even companies not interested in finding the most competitive pricing, are benefiting from Big Data, including InternMatch.
InternMatch is exactly what it sounds like—a startup that connects college students and recent graduates to internships. But unlike LinkedIn, Indeed or other job search sites, the company uses Big Data to find what applicant's' interests and skills are to connect them to companies that are hiring. Not only does this help students find the best jobs for their talent, but it helps companies narrow down their applicant pool by determining exactly what they're looking for—including finding employees who will fit the "company culture," an article in TechCrunch said.
Though the company has been around for five years, it recently gained $4 million from investors, bringing its worth to $6 million, and allowing it to improve the technology that determines what internship is best for each student or job hunter.
"We have knowledge of what kinds of students are applying where and we're investing now in using that information and that data to delegate students to where they should be, places that they haven't heard of," co-founder Nathan Parcells told the news source.
The idea of using Big Data to improve efficiency for all areas of a business may soon grow among employers and applicants, and potentially into other social realms.