Did you know that 90% of all the data in the world was created in the last two years? Thanks to Big Data, new products, and more focused marketing face a large volume.
Do you want to know how Big Data impacts your company and how it can contribute to the marketing team’s work? Keep following our post, and you will have all the answers!
What is Big Data?
It is the function of collecting, storing, and interpreting large volumes of data to generate meaningful information for decision-making based on accurate information and not just possibilities. Through it, companies worldwide are getting to know their consumers more profoundly and, thus, anticipate business trends.
As Big Data makes it possible to map behaviors, opinions, and demands, it is then possible to increase productivity, reduce expenses and improve the quality of your products and services through its use.
Although digital media reign supreme in data storage, we must not leave out purchase and sale information, financial records, and non-digital interaction channels, such as call centers and even telemarketing. All of this can be a data source to help your business grow.
The 5 V’s
Some attributes define and characterize Big Data in practice, popularly classified and known as the 5 V’s. Let’s understand a little about them:
It is one of the main characteristics of Big Data and refers to the amount of data used. It is the sum of all information from leads and customers about interactions on websites, blogs, social networks, purchase histories, and much more.
It is linked to the diversity of types and formats of data collected and analyzed and classified into: structured and unstructured.
Structured data bring a format definition, while unstructured data do not have a standard format, such as an image or audio message, for example.
The professional’s job is to understand these varieties and how each should be analyzed and stored.
Velocity refers to the frequency of data generated and how this content is worked on and updated.
The challenge of Big Data is to have the exact timing of the processing of this data so that it does not lose its real value and applicability in the market and, for that, speed is necessary.
The veracity is linked to the reliability of the data; that is, it is necessary to understand where they came from and if they are up to date, to be sure they are included in the samples to be analyzed and not run the risk of guiding your company to wrong decisions.
Value can be understood as the benefits that data will bring to your business. That is, can they generate relevant information? Will they help you in making a decision?
After all, not all information will be essential or valuable for your company’s goals.
The benefits of big data applied to marketing
Now that you understand what Big Data is and how it is structured, you must be wondering what benefits its application can bring to your company. For this, we separate four of them:
Business decisions are more likely to bring expected results based on data proving their efficiency.
It is not possible to guess what your audience wants or expects from your products and services, but Big Data is an excellent ally in the mission to find those answers. With the help of data, it is possible to find patterns of behavior and how they act within the market.
The more you know about your consumers, the greater the chances of getting your marketing strategies and campaigns right.
Your marketing automation strategies can go far beyond your inbound marketing strategies if you have a good database.
When you know the customer well, you can send the right message to him, so the company can invest less time and resources in the marketing production process and more in the relationship and conversion.
More assertive campaigns
Your campaigns can also benefit from using data samples. The more information you have about your customers, the more targeted your campaigns will be, and the more you can reach your target audience.
The social networks themselves and their ad platforms deliver interesting results to start their work.
For you to understand in practice, we separate a case of how Netflix used data to generate better results.
Did you know that the hit series House of Cards was created from Big Data?
Analyzing the data of its users, they understood that a large portion of them valued the works of director David Fincher, evaluated well the films in which actor Kevin Spacey acted and that the British version of House Of Cards was successful. Conclusion? They put all this data together and created a series based on complex data that became a hit.
Netflix is an excellent example of a company that efficiently explores Big Data concepts and techniques to predict habits and thus shape its products according to the behavior of its customers.
Get to work?
You’ve just read about a Netflix case, and you must be thinking that only large companies use Big Data. Mistake! There are already smaller companies leveraging Big Data to grow and innovate.
Have no doubt that Big Data is for your company, regardless of its size. The idea of transforming everything collected in your customers’ daily lives can generate valuable opportunities for your business.
Start analyzing free tools like Google Analytics, your social media data, and the platform you use to automate your emails; it will definitely be an excellent start to yield exciting insights.
It’s not a simple job, but it will undoubtedly be ahead of your competitors when your company has everything in line. Shall we put it into practice?