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The utility of the BigData application in the Marketing area

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The utility of the BigData application in the Marketing area

Big Data Analytics involves examining large amounts of data. This is done to uncover hidden behavior patterns, correlations, and also to provide insights to help make good business decisions. Basically, organizations have realized the need to evolve from an organization with knowledge to an organization in continuous learning. Essentially, companies want to be more objective and data-driven, which is why they are embracing the power of data and technology.

The concept of Big Data has been around for many years, it is not a concept in current use. Several decades before the first mention of Big Data we had a few years ago, companies applied analytics on the data they collected to gain insights and discover  british cell phone number  trends. This practice involved capturing numbers in a spreadsheet like excel and examining them manually. Today, everything has become more sophisticated. Big Data analysis is done using advanced software systems. This enables companies to reduce the time spent on analytics for faster and more efficient decision making. Basically, modern Big Data systems allow fast and efficient analytical procedures. This ability to work faster and achieve agility offers a competitive advantage for companies.

Organizations have invested in Big Data analytics. Consider a business that knows it relies on a quick and agile decision to stay competitive. In this article, I am going to give three real examples of how big brands use Big Data analytics.

Using Big Data Analytics to Drive Customer Acquisition and Retention
A real example of a company using Big Data Analytics to drive customer retention is Coca-Cola. In 2015, Coca-Cola was able to strengthen its data strategy by creating a digitally managed loyalty program. Coca-Cola’s chief data strategy officer was interviewed by ADMA’s managing editor. The interview made it very clear that Big Data analytics is strongly behind customer retention at Coca-Cola.

2. Using Big Data Analytics to Solve Advertisers Problem and Deliver Marketing Insights

Netflix is ​​a good example of a great brand that uses Big Data analytics for targeted advertising. With more than 100 million subscribers, the company collects a large amount of data, which is the key to success in the industry where Netflix operates. If you are a subscriber to the platform, then you will be familiar with how they send you suggestions about the next movie you should see, for example. Basically this is done using your previous search and observation data. This data is used to give you information about what the subscriber is most interested in.

3. Big Data Analytics as an engine of innovations and product development

You’ve probably heard of Amazon Fresh and Whole Foods. This is a perfect example of how big data can help improve innovation and product development. Amazon leverages Big Data analytics to break into a huge market. Data-driven logistics provides Amazon with the expertise required to enable the creation and achievement of greater value. By focusing on Big Data analysis, Amazon Whole Foods can understand how customers buy food and how suppliers interact with the seller. This data provides information each time additional changes need to be implemented.

Big Data Analytics is therefore a very important investment for a growing company. Through the implementation of Big Data analytics, companies  british cell phone number  can achieve a competitive advantage, reduce operating cost, and drive customer retention and loyalty. There are several sources of customer data that companies can take advantage of. As technological advances continue, data will be available to all organizations.

Technically, it’s fair to say that organizations already have data at their disposal. It is up to them to ensure that they implement adequate data analysis systems to manage the large amount of data they do have. Does your company have a big data analysis mechanism in place? Learn from previous examples of successful brands and implement one today for success.

 

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