Applications of Big Data Marketing Analytics

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Applications of Big Data Analytics
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Introduction
Introduction

• Big data is an evolving term, and it consists of
  high volume of structured, semi-structured and
  unstructured data that has the potential to be
  mined for information.
• Big data increases the quantity of sales, it also
  improves the quality of sales, lead data,
  territory planning etc. These are the areas where
  big data is making enormous contribution to sales
  and marketing today.
• Big data also provides insights into how to lower
  the Customer Acquisition Cost (CAC) and Customer
  Lifetime Value (CLTV) is it's the newest trend
  and we dont have to give second thought on it.
• By providing various opportunities, big data is
  changing the marketing and sales in various ways
  some of them are

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Review Program Performance

• Big data basically focuses on performance. It
  allows the marketers to review their programs for
  benefit.
• Marketers make data, center of sales and
  marketing decisions which in return increases the
  investment of their companies.
• It allows the marketers to leverage data to
  capitalize on what works, while discarding wasted
  efforts on what doesnt.
• It also affiliates with more real time
  information and this allows to make better
  marketing decisions and enhances customer
  experience online, by increasing brand image and
  brand loyalty.

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Gain Consumer Insights

• Big data will always search for new opportunities
  for your program. It gives marketers the
  opportunity to gain insights about customers that
  was never possible before.
• It also permits the marketers to tailor
  personalized marketing campaigns and upgrade the
  customers experience.

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Analyse Consumer Behaviour

• Big data also expands customer intelligence. It
  examines various range of onsets that include
  structured information such as purchase
  histories, CRM data as well as unstructured data
  information such as social media etc.
• Sorting from this information would surely help
  in expanding customers intelligence.

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Improve Operational Efficiency

• Big data also improves operational efficiency. It
  frames the value chain that helps the companies
  to drive more operational efficiency from
  existing investments.
• Big data is moving from the sphere of data
  scientists into business transactions. Various
  firms like insurance companies and others are
  getting benefit from this introduction big data
  for reduction of costs.

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Need For Resources

• There has been an increase in demand for hiring
  new people. As technology automates big data
  collection, there has been an increased need for
  hiring people.Computer scientists, statisticians
  are needed to filter big data.

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Forecasting

• Predict your customers needs before the
  customers say it. Big data helps in forecasting
  the future needs of the customers.

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Personalization

• We all know that every customer is different and
  their needs and wants are different, and
  presenting the same deals to all the customers
  will not work ever.
• Big data can deliver insights into customers
  locations, needs and contact information.
  Personalization can be built by converting
  customer data from social media, customers
  review and insights that target customers
  individual needs.
• But big data allows you to study the different
  trends in the market of almost every customer and
  then each time show them something new. And when
  the customer will be satisfied by your
  presentation and planning he would surely come
  back to you.

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