Marketers, maximize Big Data ROI
Interview completed with OnlyIT Canada looking at the impact of Big Data on Marketing.
Big Data solutions offer marketers the opportunity to gain greater insight into their customers’ preferences and habits. However, not all marketing professionals are gaining the full value of their Big Data solutions. Jim Roberts, director and founder of the direct marketing consultancy BlacklerRobertsn Ltd, offered recommendations on how to obtain the greatest value out of Big Data solutions for marketing.
“Marketers have been using data to differing levels for many years to understand, identify, target and engage with customers,” Roberts said. “This means they understand the value data can potentially provide in any marketing initiative.” He noted that the question marketers should be asking themselves is, “Am I getting the most out of the key properties of Big Data?”
Roberts defined the key properties of Big Data as volume, velocity and variety. “Volume” refers to the additional breadth and depth of information. “Velocity” means the current and contextual understanding. “Variety” is the additional sources of unstructured data.
The direct marketing consultant believes advertising professionals can derive greater value from Big Data solutions through a closer examination of each key property. While marketers gather information about consumers’ web activity and lifestyle details, they might be missing out on qualitative and machine data. Roberts explained that qualitative data denotes information gathered from such sources as social media, surveys and interactions with customer service; machine data, as the name implies, is information transmitted by devices.
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