Numbers have an important story to tell. They rely on you to give them a voice ~ Stephen Few, Data Visualisation Specialist
Big data is not just in vogue. We are just at the beginning of a revolution that will touch every business and every life on this planet. But tonnes of people are still treating the concept of big data as something they can choose to ignore — when actually, they’re about to be run over by the unforeseen power that is big data. However, Gary King, professor and director of Harvard University’s Institute for Quantitative Social Science, states “Big Data is not about the Data.” Well, he’s described it spot on! We live in a world where it’s not Digital Marketing anymore, its marketing in the Digital Era. There is no digital strategy, just strategy in a digital world.
The data gathered each second is rising. It is plenty and easy to collect, however, the real value lies within its ability to be analysed. The irony of data is that despite its potential to enhance the human experience, it’s often difficult to filter, analyze, and interpret to gain those cherished insights. In a survey conducted by Smart Insights, they had 2,352 responses from marketers around the world. The results for 2017 depicted that among the top-rated marketing techniques Big Data is cutting in extremely close to content marketing. We analysed the value of content marketing last week in Content is King. This week the focus moves to Big Data. The defining properties of big data are the 3Vs (volume, variety and velocity). Volume refers to the amount of data, variety refers to the number of types of data and velocity refers to the speed of data processing.
Data is the way to connect the dots between channels and devices so customers have a consistent and personal experience. This is how marketers are going to win. Data and marketing analytics are the keys to improving your targeting, delivering relevant messages, and creating personalized, omni-channel experiences that turn prospects into life-long customers. My observation…the rate at which data and our ability to analyse it is growing, businesses of all sizes, large and small, will be using some form of data analytics to impact their business. The question isn’t whether or not big data is here to stay; the question is are you ready?
The empires of the future are empires of the mind ~ Sir Winston Churchill