THE ROLE OF BIG DATA IN DIGITAL MARKETING
Are you ready to harness Big Data for the benefit of your digital marketing? Here’s what you need to know.
Big Data is an important part of digital marketing. When it’s analysed correctly, it allows you to make smarter business decisions that can lead to the success (or failure) of your digital marketing efforts. And yet, it is also complex. That’s why you need the correct data analytics tools to analyse it.
What Is Big Data?
Big Data is a field that relies on advanced technology to analyse data that is considered too complex, large, or fast for traditional data analytics tools to process.
The characteristics of Big Data include:
- Velocity, and
- Value of a data set.
What Are The Benefits of Big Data In Digital Marketing?
When it’s accurately analysed, Big Data can benefit digital marketing by providing valuable insights:
- Target Audience Insights: Data can give you information about your target audience (or customers). For example, what percentage of those customers are adults, how many of those customers have visited your website before, or even which of your products is their favourite.
- Identify Problems: After analysis, Big Data can reveal errors and identify where you need to fix them, or which aspects need improvement (this is called prescriptive analytics).
- Predict Market Behaviour: With the right data analytics tools, data can offer predictive analysis. This allows you to make better decisions for your business and optimise your digital marketing efforts.
- Streamlined Social Media Marketing: When you utilise the right data analytics tools, you can pull data from social media and integrate your digital marketing efforts.
- Automate Processes: With machine learning and technological tools, you can automate the collection and processing of data and see results quickly. This is also cost-effective.
Big Data Tools for Marketers
See below for three innovative tools that’ll make the process of capturing and analysing Big Data easier.
- Sedge.ai does the complex decision making for you. Their Cloud-based AI and machine-learning platform enables you to upload your data, and play with the numbers to unlock insights, create your own custom reports and they also have consultants that are standing by to assist. from data analytics to image and video analytics, and more.
- Talend’s platform combines Data Integration, Data Integrity and Governance, and Application and API Integration to provide you with reliable data. From there, you have data to drive your decisions when it comes to ensuring regulatory compliance, building customer loyalty, and improving the running of your business.
- Marketing Evolution is Big Data heaven for brands. From Media Planning to Brand Optimisation to Marketing Measurement, their goal is to help you maximise your brand’s impact on the right audience in the right channel. What makes Marketing Evolution so useful is that they assist you in optimising for and measuring your KPIs.
Automation In Big Data
How do you make sense of Big Data and pull the insights you need, when the volume, variety, and velocity at which it comes to you, is massive?
That’s why automation is helpful. We live in an era where digital technology is infiltrating every industry. You don’t need to spend hours on spreadsheets trying to compile Big Data. Technology gives you the automation tools for that. In today’s world, digital marketing has to involve automation because it’s cost-effective and timeous.
Dish Network, a satellite television company in the US, used automation to integrate their Big Data and gain valuable insight into customer behaviour. This resulted in a significant return on investment. Read more about how automation helped Dish Network to increase profits.
“Marketing automation alleviates the guesswork from our planning and allows us to be smarter with every dollar we spend.” - Jay Roth.
Artificial Intelligence And Big Data
Artificial intelligence (AI) is growing in popularity. It’s also one of the biggest 2021 trends in the field of Big Data. Voice assistance and computer vision are just two examples of artificial intelligence, and digital marketers are tapping into its capabilities to analyse Big Data.
The benefits of using artificial intelligence for Big Data analysis include:
- Reduces human error.
- Enables multi-tasking and unlike humans, doesn’t get tired.
- Makes faster decisions.
- Operates 24/7.
- Predicts outcomes and trends, and identifies patterns.
- Recommends improvements.
- Capable of market research and analysing customer behaviour.
Through AI tools, you can obtain insights from your Big Data faster than ever before. But, you also need to beware of data bias, which can cause machine learning/AI bias. That could hurt your business by distorting your data analytics.
Techniques To Analyse Big Data
Big Data is complex. That’s why you need to know the best techniques for analysing it.
Techniques to analyse Big Data include:
- Machine learning algorithms: Machine learning is an example of artificial intelligence, and machine learning algorithms can predict outcomes in Big Data.
- A/B Testing with Big Data: A/B Testing deals with analysing a variety of data. A/B Testing is when a control group of data is compared to a variety of test groups, to identify problems and their causes amidst these different kinds of data.
- Text mining, or natural language processing: Natural language processing is a form of artificial intelligence and is used to analyse qualitative data - it enables machines to “read” text. Natural language processing can find relevant information amidst Big Data, summarise contents, and even identify social media sentiment about a brand.
Boost Your Digital Marketing With Shift ONE
Hold up. Before you fall in love with the numbers and spend all your savings on subscriptions to technological systems that will analyse your Big Data, you need to get clear on your digital marketing strategy.
Contact Shift ONE Digital today to kickstart your big data digital marketing strategy.