If sustained, the global Big Data market would exceed $47 billion by 2017
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Big Data & Digital Marketing
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Data analytics as the key to know your customers and offer them what they really want.
Curated by
Luca Naso
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This infographic details big data in the retail industry.
Luca Naso's insight:
Very nice Infographic, touching most of the relevant information about Big Data in Retail: main challenges, main goals, suggestion for a plan (although the initial part about Big Data size is a bit useles by now).
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Today’s flood of big data represents immense opportunity for smart marketers. But to fully leverage this potential organizations must quickly optimize ad delivery, evaluate campaign results, improve site selection and retarget ads.
Luca Naso's insight:
Forward-thinking marketers and innovative entrepreneurs come forward! The future is here waiting for you. Embrace the opportunites offered from new technologies to fly high. Retail and Healthcare are just two examples of industries that will most benefit from Data Analytics, but are somehow lagging behind.
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Gamification can help organisations become an information-centric organisation as well as get more involved customers.
Luca Naso's insight:
Gamification and Big Data are soon going to become best friends.
The former offers a very natural and non invasive way to collect relevant data. The latter provides the intelligence engine needed to engage the 'customer/player' with the next level/challenge.
Again: integration and real-time analysis are fundamental.
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As business intelligence begins to permeate the hospitality sector, one thing is certain: You can take a "buy" approach [...] or a "build" approach ..."
Luca Naso's insight:
Si vis negotium intelligentiae, para Data. If you want Business Intelligence, prepare the Data.
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"Big data" has been broadly applied as a catch-all phrase for any company, and this gold rush has brought out the usual lineup of copycats and frauds.
Luca Naso's insight:
The term 'Big Data' is very fashionable and cool, a quick search on Google Trend will show that the term is exponentially growing, and is looked for more than 'Business Intelligence'.
The real power of 'Big Data' lies in its interpretation. Everybody has some Big Data, but only few know how to take advantage of it, i.e. how to extract meaning from this plethora of (otherwise useless) information.
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Interactive digital signage can influence consumers' buying behavior. Download this Trendagram to discover how to get the biggest impact from these technologies.
Luca Naso's insight:
Digital Signage is becoming vital for retail.
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Digital marketing is expanding at the expense of other marketing strategies, placing more importance than ever on proving digital's worth.
Luca Naso's insight:
Marketing without analytics is like trying to throw darts in the dark. Marketers are increasing their budget on Digital Marketing, with no intention to increase the overall marketing budget. The best way to make the most out of digital marketing is through analytics.
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There are two big questions about marketing [...] at the moment. Firstly, is it becoming more, or less, important within organisations? Secondly, has digital completely changed what marketing is or has it fundamentally remained the same?
Luca Naso's insight:
Marketing is becoming more and more important within organisations. And yes, it has to be digital. In one of my previous scoop I reported that: "Marketers are increasing their budget on Digital Marketing, with no intention to increase the overall marketing budget." Big Data and Digital Signage combined together have the potential to address most of the 12 points of the Manifesto. With a proper plan marketers can us them to improve customer experience and personalisation, to take advantage of multi-screen or omnichannel, to go social without being lost, and also to increase ROI.
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Luca Naso's insight:
I usually say that the power of Big Data lies in the meaning that one is able to extract from it.
Actually this is not the whole truth. Only one half of Big Data power lies in the extracted meaning, the other half lies in the way the meaning is conveyed.
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Luca Naso's insight:
Big data, to use the industry buzzword for these sprawling streams of information, is potentially so valuable that moderator Richard Whittington, SAP Labs senior VP/general manager of media industry solutions, likened the drill down potential to historical oil booms.
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Follow these commandments to find that 5 percent of key insight faster.
Luca Naso's insight:
I believe that 'creativity' is as important as 'keeping it clear'. It's vital to set clear objectives, but do not constrain also the path to get there, because Big Data can show you many different (and unexpected) paths.
After McKinsey Quarterly on how to make a plan for Big Data, here are 10 easy rules to keep in mind when working with Big Data.
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Luca Naso's insight:
Keeping data confined in silos is like having the best components for a computer, and mounting them each on a different workstation. It's an extremely bad usage of top class elements, a loss of a huge potential.
Integrate and aim at real-time analysis, that's the way.
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Companies of all kinds are using huge amounts of information to improve their products, cut costs and keep customers coming back
Luca Naso's insight:
Big Data have been used successfully in Human Resources, Product Development, Operations and Marketing.
Big Data is the tool which is really making it possible to address customer as a person and not only as a segment.
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When a plan is in place, execution becomes easier. Many companies don’t have one. Here’s how to get started. A McKinsey Quarterly article.
Luca Naso's insight:
Big Data is great and can boost your business, but without a good plan it is just a pain. McKinsey gives us some suggestions on how to develop a proper plan, by focussing on 3 core elements (data, analytics and tools) and 3 planning challenges (priorities, implementations and frontline training)
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While global markets continue to experience degrees of stagnation and even decline, the worldwide enterprise software market continue to experience solid growth throughout 2012, according to the International Data Corporation (IDC).
More and more people are realising how important Big Data is to increase ROI and a range of services and products are now available on the market.
The report also stated that “Big data and analytics are also closely tied to the fast growth social business software markets"