The era of big data is well and truly upon us. And, while some businesses already seem to be thriving in its slipstream, others have yet to dip a toe in this enormous pool. The reason for hesitancy is often the overwhelming volume of the data and the perceived effort involved in analysing and using it. However, the reality is that you don’t have to wade straight in and tackle everything in one go – you can start small, for example with the data from web hosting software or social media. Perhaps even more compelling are the wide range of benefits that big data can offer to improve your campaign and data management.
What is big data?
It’s very much what it says on the tin – data in a large volume. It comes from many different sources, from marketing and customer data through to social conversations, transactional data and even information as random as weather or stock prices. Its value lies in the insight that combining all this data provides to those who decide to work with it. Big data can inform better decision-making and enable you to better organise the data that you have access to.
The positive impacts of big data on data and campaign management
Organisation and optimisation
Data has always been a key component in business knowledge and strategy but it can be an unwieldy and disorganised experience. Big data solutions have ushered in the era of data that is indexed and optimised and which can be extracted, analysed and compiled into digestible reports thanks to simple, insightful technology.
Better business decisions
The vast number of decisions in business needs to be motivated by the customer and it’s difficult to do that without any real insight into who the customer is. Working with big data solutions provides a channel into that place – into behaviours, responses, preferences, ideas and actions and in a volume that can provide genuinely useful insight into how to make decision that are better for your business.
With big data analytics you’ll be able to see how a campaign performs in the kind of detail that just hasn’t been possible before. When you’re designing and creating that campaign you’ll be able to use the information provided by big data to tailor it to an audience and to shape a campaign that comes from a place of genuine knowledge. Big data enables you to create highly effective tools from your advertising and marketing campaigns. You’re no longer taking a stab in the dark or working from instinct but from data that’s there in black and white.
Risk is something that every business wants to reduce as much as possible and big data has a significant role to play in that. Risk assessment requires knowledge – working with data means you’re no longer in the dark when it comes to risk planning.
Optimising impact, reducing costs
In the context of sales and marketing effectiveness, as well as data management, the opportunity to streamline what you do by investing in big data opens the door to more cost effective and impactful management all round.
Find out more about big data and optimizing your data management by getting in touch with MarketDeveloper today on 01784 432 082.