Big Data

As they become increasingly digital, enterprises are recognizing the central role of content in supporting their underlying business goals.

Big Data continues to attract a passionate amount of attention among consumers, media, and businesses. It also attracts intense attention among analytics, digital channels, and cloud based technologies. All these are attributable to the current technology megatrends. Big Data has enabled managers to measure and know more about their businesses. It enables business owners to improve their decision-making and performance. Big Data has the potential of transforming both traditional and current businesses as well.

Direct marketing has gone through a number of transformations over the years.

And while certain aspects have changed, strategically driven direct marketing is still as viable as ever in helping businesses attract today’s discriminating customers and meet their high demands.

Contrary to popular belief, the big data process isn’t a funnel. For whatever reason, we’ve come to think the more information we dump in from the top, the more actionable, quality insights will come out through the bottom. That just isn’t the case. We’re creating more data every day than any other point in history, but not all of this information is a golden opportunity. Most of it’s just noise. The real key to success is being able to navigate through the clutter and determine what pieces of information are pertinent.  

Competition in the retail world is as cutthroat as ever. With so many retailers out there, the race is on to reach as many customers as possible with the best offers possible. Businesses that go into this race expecting to use traditional methods, however, will quickly find themselves falling behind the rest of the pack. We live in a much different world now where customers are more knowledgeable and empowered than ever before. Thanks to the internet, consumers can find out all they want to know about specific products before ever deciding to purchase them. This has forced retailers to raise their game when it comes to wooing current and prospective customers.

Many social media sites are trying to push back against the juggernaut known as Google and its mammoth advertising operation. Perhaps it’s no secret how important advertising revenue is to most social media platforms. After all, free services have to find money to operate from somewhere. Fully taking advantage of advertising, however, has been tricky thanks to Google AdWords and its powerful influence across the web. AdWords’ reach is impressive and plays a crucial role in Google’s growth. In fact, AdWords is the mega-corporation’s primary source of revenue.

Big Data is changing the world. The ability to store, manage and extract actionable insights from vast and deep lakes of disparate data pouring in from multiple sources has transformed businesses, industries, and our lives.

And for this we can thank the cloud.

It seems like companies have an insatiable desire for information. In the era of big data there’s never enough, and organizations are constantly on the lookout not only for new types of information, but new sources from which to glean it. Of course, big data isn’t a crystal ball (though it’s sometimes hyped up to be), but it’s a great means of learning a number of different things, including personal preferences. The more we interact with different brands, and voice our opinions on social channels, the more we reveal who we are, our habits and overall behavior. That’s why marketers are so keen to adopt big data strategies. The more they know about us, they more they’ll know how to reach us.

Technology is getting faster and smarter. Computers are now able to recognize and learn patterns, and make decisions in real-time. Their improved analytic and decision-making abilities allow them to outperform humans in areas such as medical diagnoses, legal recognition and customized marketing campaigns.

Every day customers generate massive amounts of data through POS transactions, social media interactions, mobile devices and more. Much of this data is filled with valuable insights retailers can use to compete in crowded markets and boost the bottom line---but how to go about it?