Marketing professionals agree that big data analytics will become a major component of their business over the next several years. In fact, according to a survey conducted by Teradata in March and May last year, 71 percent say they plan to implement big data analytics within the next two years — all part of taking their data-driven marketing efforts to the next level.
Most marketers already leverage data, of course: customer service data, customer satisfaction data, digital interaction data and demographic data. But the new era of data-driven marketing combines collecting and connecting large amounts of data, rapidly analyzing it and gaining insights, and then bringing those insights to market via marketing interactions tailored to what’s relevant for each customer. Teradata predicts that by 2016, marketing organizations that successfully leverage big data for microsegmentation and targeting will achieve response rates of 70 percent or better.