An introduction to Big Data
If you’re familiar with the digital marketing world, you have probably heard about the term Big Data. But what exactly is Big Data? How do we define it?
According to IBM, everyday we create 2.5 quintillion bytes of varied types of data, coming from both online and offline 1st and 3rd party sources. The volume of data is increasing exponentially. This massive quantity of information offers insight that can help businesses tackle their marketing strategies more efficiently, increasing customer engagement and adding more value to their interactions. This way, data-driven marketing is full of potential opportunities for publishers, agencies and marketers to boost their business.
Big Data contains valuable information for marketers that can provide them competitive advantage in planning and strategy building. But Big Data is so big that it needs special technology to be stored, analyzed and processed. These tasks are run by a DMP –Data Management Platform–, software that acts as a centralized data warehouse to take in, sort and store the information.
Surely, the thought of managing such a big volume of data can seem overwhelming. How do you handle that amount of information? What exactly do you do with it? That’s where we come in.
How does our DMP work? Retargetly’s DMP collects 1st party data by placing a tag/SDK in your website or mobile app. By combining this information with 3rd party data, we are able to organize the data and sort your traffic into audience segments, which are then explored to gain further understanding on your customers and their behavior, needs and interests. This way, you can analyze audiences based on specific data points and activate them so that they can be reached more efficiently. Choose your best performing segments and increase your ROI by targeting similar ones.
Why use a DMP? Marketing consists of getting the right message to the right viewer at the right time. DMPs are the pillar of data-driven marketing, by working as a unifying platform to collect, organize and activate 1st and 3rd party data from online, offline or mobile sources.
By analyzing specific behaviors, interests, demographic and psychographic information, it is possible to understand your audience better. DMPs offer technology to find trends, segment and target. Getting to know customers means targeting the right audience, therefore creating more efficient and profitable campaigns. The in-depth data provided by DMPs helps build custom audience segments that can be activated and targeted specifically.
With the massive amount of information available through its different sources, Data Management Platforms are considered to be today’s key element in improving marketing campaigns, creative planning and development. By knowing who to direct campaigns at, it is possible to engage and convert customers more efficiently, while also enriching and extending audiences.
