Experts predict big data will fuel marketing success
As enterprises look to devise more effective marketing campaigns, experts agree that mining big data will be a critical capability for using real-time analytics for more intelligent strategizing.
In an interview with Digital Market, online marketing expert and CEO of iClick interactive, Sammy Hseih, was adamant that big data will be imperative for more efficient campaign planning, but demands dba services for better information management. He explained that online marketing success will increasingly depend on an automated workflow for campaign execution that is driven by the deployment of database experts and actionable analytics under one unified data management platform.
"Data quality and availability are going to be the critical and so for firms whose data, no matter internal business data or campaign performance data, is still living in siloes and lacks integrated analytics, it is about time to pay more attention on data collecting, mining, processing and automation in order to make data interoperable to achieve data-centric decision making," he told the news source.
Stephanie Miller, ClickZ contributor, asserted that big data initiatives should be deployed for actionable insight that allows leaner, more efficient campaign-planning. She reported that at a recent panel, Grazia Ochoa, director of global digital marketing at Starwood Hotels and Resorts, spoke on the importance of big data mining for a multi-faceted understanding of consumer behavior that drives return rates. Starwood Hotels' marketers use social media data consisting of reviews and feedback to provide more personalized experiences. Miller reported that Charlie Swift, VP of marketing analysis and operations at Hearst, also spoke on big data benefits.
"As we move forward inventing the new world of publishing – between digital editions of our magazines and the shift to deeper consumer relationships – data is at the heart of our ability to learn and react faster to the market dynamics," he stated, according to Miller.
Improved offers with insight
Miller reported that Swift uses big data to link subscriber profiles for a 360-view of their habits and values so that advertisers can speak more accurately to their preferences.
Other industries beyond publishing are leveraging big data for a competitive advantage in marketing. Miller revealed that Steve Ireland, executive director of advertising strategy at JPMorgan Chase, explained that his company often has between 50 and 60 different products to offer, and big data has improved the company's ability to identify which options are most closely aligned with clients' needs and desires.
Big data projects are a key step to realizing enhanced understanding of consumers that increases meaningful brand engagement and drive marketing campaigns that resonate more profoundly.
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