What Is Big Data Analytics & What’s The Obsession With It?
Big Data Big Hype?
Well no, because we create 2.5 quintillion bytes of data every single day. And the last 3 years have potentially witnessed the maximum surge in data. New devices, sensors, new technologies stand responsible for this data explosion.
There are over 300 million smartphone users in India alone. Now imagine the data spurted out from all the smart devices, the cloud and other databases? Such variety of data arrive in increasing volumes and with a high velocity given our consumption of digital services. This gives rise to big data. And since it takes data to make confident and productive decisions, it goes without saying that marketers feel slightly overwhelmed. What’s more is that traditional data processing applications fail to process and justly assess such mounting data sets. This makes data-driven marketing go awry.
Bring In The Facts: Analytics
Plus points of data-driven advertising include the ability to reach the most convertible customers right when they’re in need of goods/services. It’s easy said, than done that to achieve this all marketers need to do is gather the data points from across channels that customers frequent and convert it into actionable information.
Let’s say you’re a business in a B2C situation and you’re looking at driving sales with audience insights. And let’s assume you’re aware of the multiple channels (screens, devices, website and more) that your target audience frequent. So how do you gather the data? Where do you store it? What do you make of it?
Analytics answers the above questions and more that directly power your marketing instincts. For example, in our previous blog we talk about controlling and optimizing data under one roof while still directing you to the coordinates of your future buyers.
Of course, with the reach of technology today, it’s possible to analyze your data and get answers from it almost right away. You can train an in-house resource to do the job or partner with specialist companies to educate you about individual customer needs. With big data analytics, you’ll realize that it is possible to look past the horizons of insight.