How does Big Data Revolutionize Digital Marketing?

After the Dotcom bubble, big data is one of the most popular topics these days. A lot of related innovations and technologies are created daily. To learn how big data revolutionize marketing, we need to know the definition of big data first. Big data is a field that treats ways to analyze, systematically extract information from data sets that are too large to be dealt with by traditional data software. It is a way to do analytics.

What’s good & bad about big data

Big data uses large data sets, from those data sets, real-time analytics companies can help marketers to decide which campaign is more effective. The help with decision-making is incredible. However, there are issues with data collection. Fake data is like fake news, there’s nothing new about it. The challenges with fake data cannot be ignored. When decision-maker uses analytics that applied fake data, the whole campaign becomes misleading, and it may need to be revised. Marketers need to be very careful to use big data, having the data sets selected by professional companies is necessary. Also, they need to take care of the privacy issue related to big data.

How does it help marketers

McKinsey found that 30% of the thousands of pricing decision companies make it fail to deliver the best price. Big data can help with making better pricing decisions. This is crucial to marketers, especially small marketing companies with a limited budget. In fact, the sales and marketing departments have been taking advantage of big data, and mostly it uses big data to do customer analytics.

Also, big data analytics increases the marketer’s ability to get beyond the campaign execution and focus on how to make customer relationships more successful. It is the marketer’s responsibility to keep a healthy relationship with customers and to improve customer’s loyalty and lifetime.

Study shows that 58% of CMOs saying big data has the largest impact on their marketing programs. Those programs include SEO, email marketing, and mobile marketing. Those are frequently seen in digital marketing channels, so big data has already been revolutionizing digital marketing.

Hopefully, with the advantages provided by big data, digital marketing can get a more advanced and effective future.