How is Big Data influencing the world of Digital Marketing and Sales?
The analysis of the data and its representation allows to obtain conclusions and improve the decision-making of those responsible for any business or company. If you want to retain your customers, enhance their loyalty and commitmentto your brand, and make the right decisions regarding pricing,among others, Big Data is an indispensable tool for your business.
In this article we tell you the possibilities that Big Data can offer your business, theBig Data systems that are implemented in Digital Marketing and the challenges they present.
Let’s start by defining what big data is.
What is Big Data
According to Wikipedia,the concept of big data is defined as follows:
Big Data,big data, or bulk data is a concept that refers to storing large amounts of data and the procedures used to find repetitive patterns within that dataThe Free Encyclopedia Wikipedia
In other words, Big Data consists of obtaining large volumes of data for representation and analysis, and subsequent conclusions.
The digital age that we live today, presents a accumulation of digital data in large quantities and unstructured. Data extracted using Big data includes:
- Structured data
- Semi-structured data
- Unstructured data
All of them have the potential to be extracted for information.
Big Data enables organizations to commercially exploit large amounts of data with the aim of generating new commercial services and improving existing ones.
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Big Data enables companies to:
- Reduce costs
- Making more effective decisions
- Develop new services and products according to the needs and preferences of your target audience.
The importance of Big Data in Digital Marketing
In Digital Marketing, the use of Big Data involves the collection, analysis and representation of large amounts of digital information to draw effective conclusions and improve the operations of companies..
Thanks to data provided by Big Data, the benefits of large amounts of information are available even to small and medium-sized enterprises, allowing companies to gain a 360-degree view of the market.
Audience engagement and how potential customers see and interact with a brand is a key factor in Digital marketing efforts.
Big Data analytics provides businesses with the business intelligence needed to achieve positive changes such as improving existing products and services,increasing revenue per customer, customer loyalty, and more.
The data provided by Big Data can have a significant impact on a brand’s notoriety and Digital marketing strategies aimed at increasing its visibility and BrandingStrategies.
Creating content for Inbound Marketing
The 360-degree vision that Big Data offers Digital Marketing specialists in a company allows them to present the specific content for each user in your target audience depending on the stage in which the funnel is found conversion and at the most effective time to improve brand and online store recognition. Therefore, Big Data provides crucial information for Inbound Marketing strategy and content creation.
Another benefit of Big Data in Digital Marketing is the acquisition of customers and the acquisition of leads. Proper leveraging cloud-based tools enables the collection and analysis of consistent, custom data from multiple sources, facilitating the implementation of inbound methodologies.
- The website
- Mobile apps
- In-store interactions
Big Data can help Digital Marketing experts leverage real-time data in cloud environments (ERP or CRM, among other tools). Big Data is a technology with a high ability to acquire, process and analyze data in real time quickly and accurately to take immediate and effective action.
Big Data analytics provides business intelligence. The results of business intelligence are effective decision-making and consequent cost reduction and optimization of marketing performance.
Big Data Types for Digital Marketing
Marketing experts are interested in three types of big data:customer data, financial data, and operational data. Different types of data are obtained from different sources.
Customer data helps marketing experts understand their target audience. The obvious data of this type are:
- Email addresses
- Purchase histories
- Web searches
In addition, information on the attitudes of the audience should be extracted among this data. This information may be collected through activity on social networks,surveys and online communities.
Financial data helps Marketing experts measure the performance of Marketing strategies and conversions to operate more efficiently. They are included in this data category:
- Sales margins
- Competitors’ financial data
Operational data is a type of data that is extracted from the company’s business processes. They can be related to shipping and logistics, customer relationship management systems, and other sources.
Analyzing business operational data can help businesses achieve improved performance, reduced costs, and ultimately greater customer satisfaction for the company.
Big Data’s Challenges in Digital Marketing
Well, all we’ve talked about so far is the most positive aspects of the implementation of Big Data in Digital Marketing.
Here are the five most important challenges companies have to face in order to enjoy the benefits that Big Data can bring to them.
- Data Complexity: Data Science solutions need to be implemented to identify and collect multi-structured data collected by Big Data.
- Need for changes in business management: Using Big Data should not only provide data from company processes, it can also involve obtaining data that shows the need to change the way the company is managed and that require changing the view of the actions taken.
- Storage costs: The volume of data generated by any company grows daily. Data storage must meet the goals set by law to implement policies and best practices on when, how, and what is stored.
- Human resources needed for data analysis: Trained personnel are required for analysis, scientists/data analysts to interpret the information obtained through Big Data.
- Advanced security tools: In order to ensure that only authorized personnel in the company access the information and have a security policy regarding Big Data information, security tools and knowledge of its use and implementation are required.
We hope you found this article useful, if you need more information on how to implement Big Data in your Digital Marketing strategy,do not hesitate to contact us at Kiwop, your web development agency and Online Marketing.