Big Data & Digital Marketing

How is Big Data changing the banks business? And how this can add value for customers?

Today it is imperative to use machine learning for detecting frauds and mitigating risks. The next step should be solidifying the relationship with clients, by offering what they really need, not what the bank wants to sell.

The 6 uses of Big Data in banking

1. Increase efficiency - shorten the time to get information from db

2. Reduce cost - in maintaining the data infrastructure

3. Prevent fraud - self-evident

4. Accountability - better evaluation of clients' risk

5. New revenue streams - the more you know the more you can offer

6. Client satisfaction - by offering a better customer experience

1. Better Gaming Experience.

Our real life produces tons of digital data, imagine how much data your virtual life can generate ...

2. higher Gamer Engagement

Data can help to fine tune the difficulties players can find during the game.

3. Increased In-Game Revenue

Upselling is becoming the standard in monetizing games. Data on customer usage should be mined to increase the efficiency of this revenue stream.

Ubisoft is already leveraging Big Data power, as Halo 4. A revolution is on the horizon.

All companies saw a profit-margin lift of between 3 and 8 percent from setting prices at much more granular product levels.

According to McKinsey, up to 30% of companies still fail to deliver the best price.

Four steps to turn data into profits:

1. Listen to the data
2. Automate
3. Build skills and confidence
4. Actively manage performance

Infographic produced by McKinsey & Co.

Facts:

1. Better marketing analytics can improve returns by 10-20%

2. Big Data leaders are 5% more productive and make 6% higher profit

Do you really need to know more before making your company a data-driven one?

Top 5 verticals for Big Data and Analytics:

1. Discrete Manufacturing

2. Process Manufacturing

3. Government

4. Communications and Media

5. Banking

Top 5 drivers:

1. Cost control or reduction

2. Optimization of operations

3. Financial reporting and analysis

4. Risk management

5. Internal reporting and information sharing

Big Data help to make better decisions also when it comes to choose a "person".

1. Tune hiring policies

2. Focused recruitment marketing

3. Evaluation based on "public" work

4. Proactive hiring

5. Recruiters still matter (and they need to update their own skills)

In sports, injuries don’t just cost wins. They cost money. By one estimate, teams across Major League Baseball spent $665 million last year on the salaries of banged-up guys and their replacements.

Now, the fast-growing industry of performance analytics says it can minimize those massive losses. The trick: using data to anticipate how an athlete will get hurt before it actually happens.

Performance analytics have the potential to extend a player’s career, but it can also reveal hidden physical problems and shorten careers. If a player is shown to be at a heavy risk for injury, what owner is going to pay that person big bucks?

Recently, market research firm PSFK Labs released the fourth annual report in its series "The Future of Retail," focusing on what those in the industry should consider in 2014.

It made a point of noting that customers expect to enjoy a shopping experience that's perfectly tailored to them across all channels (in-store, online and via mobile).

For this to occur, big data analytics must – and can – be used to offer the direct customer service and personalization that so many consumers seek.

Leaders and thinkers in management are proactively involved in understanding and implementing big data capacities that suits their strategic and tactical need, as they realize that data driven strategies will be the platform for competing in future business environment.

Here’s a look at how the features of Big Data is transforming the outlook of business performance:

1. Data collection and transfer

2. Informed Decision- Making:

3. Segmentation

4. Risk absorption

5. Path to Innovation

3 relevant cases where Big Data are already making a great difference:

1. Improve apps

2. Meeting individual needs, aka Know Your Customer

3. Enhance location-based marketing

Location-based marketing is one of my favourite, that's why it is fully supported in Web Signage, our web-based software for advanced Digital Signage solutions.