Marketing

Top 5 ways Big Data is revolutionizing marketing

05th Nov `14, 03:06 PM in Marketing

Here’s a quick look at how big data is forever changing the marketing landscape. Segmenting customers In the…

BDMS
Guest Contributor
 

Here’s a quick look at how big data is forever changing the marketing landscape.

Segmenting customers

In the past, marketers had to use their collected data to create ads that were targeted to broad demographics. Nowadays, though, big data platforms are helping companies sort, analyze and manage their immense amounts of data, which allows marketers to create ads directed toward individuals; this enhances the effectiveness of these ads.

Marketing campaign simulations

Marketers used to go off limited predictions in terms of evaluating the expected effectuality of their marketing campaigns. Today they can use big data simulations to test and practice their campaigns in a virtual marketplace. This allows them to make tweaks when needed, which greatly reduces failure costs.

Rear and front facing view of customer behavior

Big data enables marketers to catch both the past and current behaviors of customers. Browsing and purchase histories give deep insight into what a customer wants, how they want it and at what price they are willing to pay. This data can be stored using CRM systems, and then used to target consumers with ads that appeal to their unique interests and needs.

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