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Whats the Big Deal About Big Data?

WHAT'S THE BIG DEAL ABOUT BIG ÚNSTRUCTURED BIG PURCHASES OPP PROFIT SECURI CONTEL BRAND DIGITAL E STRUCTURED REVEN PURCH BILLION RITY ZE RACE AGE HUGE SOC TAL ENTERTAINME OWTH DATA ACC ORAGE SILOS PICTU EMOGRAPHICINEOR EDATAB NITIES D. RN TRILL ) ΓΑΒYΤΕ) CE AGE PETA B RGET T EL MULT ESOCIA NMENT ATABAS ES MAI EDIA FE OMMER OI GRO TORAGE RAPHICS TICHANNE BAL CO VATION UN TA ACCESS URES P TION SI PPORTU ON PETA TES TAR TE DEM TRAVE EDIA FI MMERC TECHNOLOGY BRAND ON UNSTRUCTUR Channel growth, new technology, increased access to the Internet and other factors have led to an exponential level of growth in generating and collecting data. The term "Big Data" is often used to describe this phenomenon and poses a variety of challenges and opportunities for marketers. UNDERSTANDING THE TREND Every 00:60 90% of the world's data today has been created in the last two years alone. Facebook brands and organizations receive 35,000 "Likes" • Google receives more than 2 million search Every time a transaction is made, queries a picture is posted, L a review is written, • Foursquare users perform 2,000 check-ins and a search is made, a data trail is created that can be saved and analyzed. DETERMINING THE POTENTIAL No matter your industry, company or project, "Big Data" is providing opportunities for you to collect, aggregate and analyze vast amounts of data - giving you the ability to improve and ultimately increase ROI. By 2015: 85% 1 in 3 53% of business leaders of Fortune 500 companies will FAIL to effectively use Big Data for their own competitive advantage. Business leaders make critical decisions DO NOT have access to information across their WITHOUT the information organization required to do their job. they need. CAPITALIZE ON THE OPPORTUNITY Big Data can be used in new ways to improve marketing communications, identify process improvements, optimize performance and drive improved customer satisfaction that creates stronger relationships. How to Get Started ... 1 ALIGN 3 IDENTIFY Profiles with Your Key Sources of Data 4 the Right Marketing Message CREATE New Customer ACCESS BUILD and Prospect Profiles Using Key and Aggregate • Transactional vs. behavioral Business Rules the Data and Automate Data Elements Dial into Datamart • Structured vs. targeted offers, Identify Updates unstructured • Who takes where and • Social vs. how you will action? When? • Add only the messages, timing, channels business- get the data • What are most relevant specific the drivers/ data elements Create a deterrents •Create the datamart • Monitor changes and trends of desired most relevant or central repository behaviors? connections Who is buying? Through what channels? CAPITALIZE ON THE OPPORTUNITY Increase Sales Revenue Use a combination of demographic and behavioral data to improve targeting and segmentation. Age, Income, Gender Lifestyle Indicators Purchase/Shopper History • Opt In/Opt Out Preferences Use process-related data to identify performance and process gaps. • Eliminate Redundant Processes • Remove Unnecessary Steps • Identify Opportunities to Automate Operations and Eliminate Manual Processes Reduce Cost Decrease Unnecessary, Non-Relevant Marketing Communications Increase Customer Satisfaction Use behavioral and survey data to better understand and serve customers. • Identify current satisfaction levels • Understand current customer experience to determine proactive or reactive actions Prepare to offer solutions that satisfy or exceed expectations Predict behavior and be proactive, stop defectors and recognize brand advocates Sources: Gartner,"Gartner's Top Predictions for IT Organizations and Users, 2012 and Beyond: Control Slips Away", November 2011 Sleeps" IBM,"Smarter CMO's Driving More IT Decisions" • Domo,"Data Never IBM CMO Study 2011 For further information, please contact us: 1-888-BUDC0-40 Bidci

Whats the Big Deal About Big Data?

shared by Budco on Nov 12
Channel growth, new technology, increased access to the Internet and other factors have led to an exponential level of growth in generating and collecting data. The term “Big Data” is often used ...


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