We hear this often: big data means big headaches for marketers due to the overwhelming volumes of information that are hard to sort through to find the right data that is then actionable. In many organizations, only a data scientist or analyst can make sense of this data, paralyzing marketers from taking action in real-time, and leading to reporting inefficiencies, poor decision making, higher costs and a lack of strategic insights needed to better understand your audience.
These days, marketers are expected to morph into a new role overnight: one part creative agency, one part communications specialist and one part data scientist. Combine that with the plethora of digital channels including display advertising, social, email, mobile and paid search, and we have a recipe for a frustrated marketer.
But it doesn’t have to be this way. Big data, especially the right data, takes the uncertainty out of marketing, provided you use the right software and tools to democratize this data so everyone can access it in your company. When used the right way, big data can help marketers identify, win, serve and retain customers better. We now know more about our audiences, their behaviors, demographics and brand affinities than ever before, enabling more targeted, relevant and loyalty-building marketing that’s changing how customers interact with businesses worldwide.
Big data provides tangible competitive advantages, but only if you ask the right questions. So before you invest in your next campaign, here are five questions every marketer should be asking of big data:
1. How effective is your current marketing and how easy is it to find the right-data?
2. What’s the right data you need that can help grow your business?
3. What data can you extract to wow customers and gain a competitive edge?
4. Can you find the 80/20 analytics that matter?
5. How ethical and transparent is your company’s data collection?
To read more about these questions and their answers, click here.