It can be very easy for a user to get lost in all the “Big Data” hype, but several things need to be in place to make sure your company finds the gold that lies within large data sets. It should be stated that you could have all the newest tools and experience in the world, but without the proper problem-solvers, your marketing intelligence could be misinterpreted. Big data for marketing is best applied with a combination of the latest software and skilled talent. By taking insights gained from a Big-Data analytics platform, you can make smart marketing adjustments grounded in science.
The ability to understand a problem/opportunity and what data is applicable to that problem/opportunity is what separates a great Big-Data capability from a good one. The ability to mine, process, and collect data has been around for a while, but the ability to analyze that data and quickly make revenue-generating recommendations for digital marketing campaigns is a game-changer. Simply put, with better insights, you can profit from careful segmentation of your target audiences.
Big Data can cost your company rather than benefit it if used incorrectly. The key ingredient to Big Data is finding a service done by a software platform or problem-solvers that has the capacity to make sense of your data. The act of taking the correlations your Big Data reveals and turning them into tactical marketing recommendations is the missing factor that companies need. That missing piece is usually filled by real-life problem-solvers who have experience in the field. If you consider outsourcing this process to a company that has experience applying predictive analytics and the ability to make sense of your large data sets, make sure the results are transparent in the form of increased ROI (in incremental revenue lift).