Big data marketing: what is it and what is it for?
The so-called Big data, comes from the powerful tool that we currently have thanks to the internet and the changes that consumers have had when buying or browsing the internet, and it is data storage. I will try to cover this topic Big data marketing, and what is it and what is it for.
Big Data Marketing is a great opportunity for marketing, to constantly change since the appearance of the telephone or the internet. In this case, Big Data refers to the volume, variety, complexity, and speed that are increasing on the information that companies handle.
Big Data is the result of the new marketing scenario, it is a context that comes to light in this current digital age, this term, apart from referring to data, influences the associated capacities, skills, and preferences in the same way to this storage of large data sets.
The biggest advantage of this data storage and the information it provides is better decision-making, it helps with accuracy and finding more opportunities. In short, Big Data Marketing refers to the techniques, processes, tools, and information processing technology that is taken into account in order to be more precise about user behavior.
It should be noted that having a wide range of data does not directly determine higher sales or a better strategy, since Big Data is only one tool, among many others, to help decision-making, because the data itself is not really relevant, if not the perceptions derived from it, the decisions that are made and the actions that they entail.
Marketing and advertising in general tries to take advantage of all this information to be able to find the answers that brands make about how to reach the consumer more effectively, and how to reach the consumer more profitably, what are their preferences, etc.
Well, this post will better explain what Big Data is for marketing and what advantages it has over it:
What is Big Data Marketing?
This concept refers to all the techniques, processes, tools, and information processing technology in large volumes, and in real-time, which allow an analysis of very important aspects such as the behavior of the consumer and thus be able to carry out the strategies that allow the brand to attract its customers and thus increase sales.
Since the beginning of this tool, until today, the amount of data capture is constantly growing, almost 40% a year, which generates great uncertainty for any marketing specialist, the solutions that Big Data brings with it. allow these data to be processed, categorized and stored in order to understand them in an organized way, since their analysis is essential in the management and planning of actions, because they allow:
- Detect problems and opportunities that may arise.
- Make decisions with the proper data backup.
- Improve the positioning of a brand’s products and services in the eyes of consumers and search engines thanks to the analysis of different determinants.
How is all this data managed?
The perceptions derived from Big Data Marketing are what counts when managing this information, the conclusions drawn from analyzing this data, and the way it is managed is what matters.
The three types of Big Data Marketing that are the key to a good digital strategy are explained below:
This category is the most familiar to marketing, including attitude, behavior, and transaction metrics from sources such as advertising and marketing campaigns, point-of-sale advertising, websites, loyalty promotions, etc.
This category includes objective metrics, which measure the quality of the marketing operations processes that are carried out, the allocation of resources, or budget controls, among other things.
This category of Big Data can include sales, or in general financial movements that the company makes to measure its financial health.
What are the advantages of using Big Data marketing?
Big Data Marketing offers a series of advantages, which can be;
Understand customers, because it allows the analysis of their attitudes, and thereby plan the relevant strategies to reach them in the most appropriate way, depending on which audience they are targeting.
Customer segmentation, thanks to the possibility of analyzing information about them, and being able to classify them according to certain characteristics.
It analyzes and measures the results of the actions that are carried out, measuring and analyzing the strategies that are carried out, and always looking for suitable actions, also allowing points for improvement.
- Allows you to get new sales opportunities for the brand
- Help make decisions in real-time more efficiently and based on accurate information
- Helps detect and avoid possible loss of customers on the web
- It enables the detection of bad practices and fraud by users
- It allows making forecasts about risks and opportunities
- Make known new trends that appear in the market
- It helps to energize, organize, distribute, share information in the way that information is shared.
- It helps to obtain relevant data on the evolution and correct operation of the business process. So to be able to take necessary measures to correct some aspects that are not working.
- It makes known the interaction and behavior of users with respect to the brand
- It allows creating valuable relationships and communities around the company’s audiences.