Every day, we create 2.5 quintillion bytes of data – so much that 90 percent of the data in the world today has been created in the last two years alone.
Every time we travel with smartphones, make card purchases online and use social media we contribute to ‘big data’ – but can it be used as an effective marketing tool? According to a recent survey carried out by German market research institute, 86% of marketers consider that big data will change the function of marketing, and a further 62% say that it has already fundamentally changed their role.
But if we consider the benefits of “Big data” to get the success in the field of digital marketing, then “Big Data” is a very impressive tool. Now with internet one can easily track and analyze things like cookies and tracking tags. This infusion of social media has contributed to the rapid growth of big data and the incoming noise that needs to be sorted through.
Yes, big data is everywhere. So why is it so important for marketers to understand? It is important because of various reasons. First Big data helps the brands to understand their customers. Customers generally leave behind a digital trail of their action, allowing various businesses to analyze what actually the customer wants. Second Big Data helps to get the real time results. For example, a company launches a digital campaign for their new product, big data will help the company to know whether their campaign was successful or not. The company can now implement the changes to the campaign to make it successful. Finally, big data is cost effective. The bulk of advertising budgets are allocated to digital marketing, and by using big data, companies can optimize their marketing campaigns and make modifications in real time. Knowing when, where and how content should be distributed increases opportunities.
Hence, big data is here to stay, and it can be the determining factor in how successful digital marketing is for any company or brand.