Big data is a broad term for data sets so large or complex that traditional data processing applications are inadequate. Challenges include analysis, capture, curation, search, sharing, storage, transfer, visualization, querying, and information privacy.
Let’s be real: ‘Big Data’ is an overused term that basically says, “We have a bunch of data—so much so that we don’t even know what to do with it.” It’s a clear reminder to marketers that we still struggle with properly capturing it, and when we do, the obstacles of organizing and analyzing it are more real than ever. Marketers are most likely to say their capabilities are merely average—or worse—when it comes to integrating, modeling, or otherwise using data. Right now, time is of the essence. To stay at the forefront of their industries, marketers need to stop being overwhelmed by Big Data analytics, and start being more strategic. We know that 81% of companies using first-party data regularly have a strong ROI, so what are you waiting for?
It wasn’t until recently that the title of Chief Data Officer was born, and already 54% of companies have a CDO specifically to help them with Big Data challenges. The jumping-off point is having a knowledgeable staff or data management platform to collect and interpret your first-party data. Cohesive teams that communicate data insights through planning, buying, and building creative will be able to dominate the space and draw in consumers with effective visual marketing content. The truth is, in this competitive digital world, market data research needs to influence our ad designs. It’s a no brainer that by incorporating the most essential types of consumer and market data, we can create that first-class content we all want. I’m talking target market demographics, psychographics, purchase data, web browsing data, and geography. The goal is to make ads
so relevant to the consumer that they become genuinely interested in, appreciate, and remember them.
It’s time to take control of your valuable first-party data and layer it onto your plans to deliver informed campaigns. Be aware of the arsenal of targeted media solutions that are available to you, from intelligent remarketing to smarter prospecting. With Big Data analytics, you can reach your exact audience, and connect with them at the top of the purchase funnel and drive them right through to the end. It’s time to unleash the power of your data and to make it work for you.