Big Data has been a hot topic for the past couple years, and now it’s about to get personal. Companies recognize the massive amount of customer data at their disposal, but it’s becoming more important than ever to more effectively collect and analyze this data to improve the customer experience and make better business decisions.
It makes sense, then, that marketers will look to personalize the customer experience and take action on their data in 2014. Marketers need to truly understand their customers at the individual level to develop targeted campaigns, create a loyal customer base, and increase sales.
Melissa Parrish of Forrester summed it up nicely when she declared the following in a recent report:
“Marketers will start contextualizing their data, drawing even richer insights, and using those insights to create not just more relevant, but personalized campaigns and experiences. In short, 2014 will be the year that marketers begin to turn Big Data into smart data.”
I’m encouraged by Parrish’s statement and the notion that companies will take a closer look at customer data to derive personalized and actionable insights.