One of the buzz words in recent times among corporates is none other than ‘Big Data’. Yet multiple definitions for Big Data prevail.
Tnooz CEO Gene Quinn says with a smile, “If you ask ten people about the definition of Big Data, you will get eleven answers”.
According to a Big Data-focused infographic by McKinsey,
- 42% of European consumers carry out web searches on their mobile devices in stores.
- 61% of consumers worldwide use digital channels as part of their purchase journey.
- 78% of mobile activity is data, and not voice.
- 72% of CEOs report that marketers can rarely explain the incremental business that marketing spend can generate.
These data points validate the need for Big Data-based analytics to increase return on marketing investment, and ultimately making profits.
Originally appeared on Tnooz.