What is the big data value for marketing?

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The 3Vs of big data: volume, velocity and variety now need to turn into value!

However, the definition of value is referring to a business, the capability to turn vast amounts of data into a useful report, according to (IBM, 2015).



Value is what brings relevance to Big Data: there is no point in having access to a massive amount of information every second if it cannot generate value. Thus, applying big data to digital marketing is a great idea, as it is vital to guarantee that the insights that are produced are based on precise data and lead to quantifiable improvements at the end of the day. Big data brings endless possibilities to approach, captivate, communicate with the client, which generates optimization of the experiences that the customer has about the business.

Marketing can benefit from the use of extractable information from big data to create more assertive actions, as have a high potential to extract insights to develop products, create, optimized offers, reduce operating costs, among other advantages. Through technologies like big-data-driven decision making (SAS, 2018), a term that refers to the use of data for business analysis and decision making—allowing marketers to communicate directly by saying what the consumer wants to hear or read.

The potential is here, use all the data collected to understand in deeply consumer behaviour, interests, shopping habits and aspirations. Interconnect the data, generating deeper insights and opportunities relevant to the business.

The value of Big Data applied on Marketing, can bring a very substantial impact on these critical areas: customers, operational and financial.

Improved Customer Experience: Better understand of customers behaviours from the analyses of marketing campaigns, points of sale, websites, customer overviews, social media, online communities and loyalty programs. This process achieves better results in terms of engagement, conversion, and brand loyalty.

More Accurate Operational:  Objective metrics that measure the quality of promoting processes relating to marketing operations, asset management, resource allocation and budgetary controls.

Innovation on Financial: Using advanced analytics regularly contained in an organization’s financial frameworks may include purchases, revenue, benefits and other objective data varieties that hold the financial health of the business. The analyses allow a more accurate allocation of sources, leading to improved return on marketing investment.
In conclusion, Big data enables business decisions and strategic moves and best practices for executing it for better marketing performance.

References: 
1.   Marr, B. (2015) IBM ‘Why only one 5 Vs Big Data Really Matters’.  [Online]. Available at https://www.ibmbigdatahub.com/blog/why-only-one-5-vs-big-data-really-matters (Accessed: 12 February 2020).
2.   SAS, (2018). SAS. ‘Big data Marketing’. [Online]. Available at: https://www.sas.com/en_us/insights/big-data/big-data-marketing.html. (Accessed 12 February 2020).

3.   Saran, J. (2018) Forbes. ‘How can big data contribute to digital marketing success’. [online]. Available at: https://www.forbes.com/sites/theyec/2018/11/08/how-can-big-data-contribute-to-digital-marketing-success/#6a7e4c761ca8. (Accessed: 12 February 2020)

Comments

  1. Carla Martins16 February 2020 at 05:31

    Rich content. Well done!
    It is exactly like that; the correct use of data can bring many advantage for a business.
    Looking forward for your next writting.

    ReplyDelete
    Replies
    1. Marília Martins 16 February 2020 at 09:27

      Thanks for the comments :)
      And yes, I believe this is the biggest challenges that companies are facing, to use the data to bring value to their strategies, as Big Data offers companies many many new possibilities for it.

      Delete
  2. Melissa16 February 2020 at 11:16

    Thanks to you I learnt much more about the link between big data and marketing. Really interesting topic

    ReplyDelete
    Replies
    1. Marília Martins 17 February 2020 at 03:26

      Thanks, Melissa I appreciate you comments! And yes, this is the challenges nowadays, find this link between the Big data & marketing. 

      Delete
  3. Carol Viana16 February 2020 at 13:44

    Awesome! And we have to be careful with the type of metric used... is so important choose the right type and also the way that will be applied.

    ;)

    ReplyDelete
    Replies
    1. Marília Martins 17 February 2020 at 03:21

      Thank you for comment! I am glad that you like it.

      Delete
  4. ChrisChvॐ17 February 2020 at 13:57

    Excellent article Mari, I definitely agreed that the job does not only stops at collecting the data and take a look at it, it is, as you mention, crucial to interconnect this data in order to generate deeper insights and in this way make more accurate decisions on the marketing strategies.

    ReplyDelete
  5. Oksana Shevchuk18 February 2020 at 08:59

    Great and informative article! The skill to find a value in Big Data really important and will help companies to gain a competitive advantage.

    ReplyDelete
    Replies
    1. Marília Martins 24 February 2020 at 03:54

      Hey Oksana, thanks for your comment! Our challenge as marketers nowadays is turning this value that data brings and into strategies and insides, that will help us to have better performance. 

      Delete
  6. Tiago Pereira19 February 2020 at 07:30

    I think that the improvement of customer experience is one of the best value that Big Data can provide! Great Job.

    ReplyDelete
    Replies
    1. Marília Martins 24 February 2020 at 04:13

      I appreciate your comment, and yes I completely agree with you. 

      Delete
  7. vjb.bijapur@gmail.com20 February 2020 at 08:21

    Nice article. Thanks for sharing

    ReplyDelete
  8. Lais Alves21 February 2020 at 10:12

    Well done Marília! Very good article

    ReplyDelete
  9. Elina22 February 2020 at 06:00

    Full of insights article. I love reading your blog.

    ReplyDelete
  10. Sedcan Altundal23 February 2020 at 15:20

    Well-written, thank you for sharing.

    ReplyDelete
  11. Anonymous24 February 2020 at 08:37

    Really enjoyed this! Thanks for sharing

    ReplyDelete
  12. Maël24 February 2020 at 09:29

    Nice perspective on the contribution of big data to digital marketing,good job

    ReplyDelete
  13. Colin Almeida24 February 2020 at 11:57

    Very well explained how we can use big data as marketers.

    ReplyDelete
  14. Unknown24 February 2020 at 13:36

    Amazing article Mari! Very well explained how big data can help us marketers.

    ReplyDelete
  15. SAURAV CHOUDHURY25 February 2020 at 03:38

    Great insight 👍

    ReplyDelete
  16. Jeane25 February 2020 at 06:49

    I now a clear idea about what role big data plays in marketing. Thanks for writing and sharing this post.

    ReplyDelete

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