As you'll likely know already, data is valuable for businesses. Analytics can help firms to improve their client outreach and yield a higher profit.
This is largely because it reveals trends in service user habits, behaviours and interests. From this, sales teams can improve their campaigns.
Innovators like Response Tap have already helped marketers to achieve this through call tracking analysis. It's unsurprising that big data has been described as the ultimate resource for the marketing industry.
Read on to learn more about it and how it can benefit the sector.
What is big data?
In essence, big data is a huge store of information, in different formats, gathered from multiple sources. It is far too large and complex to be interpreted by humans - but can be analysed by computers to draw out previously-unseen patterns in consumer interests and behaviours.
These insights are extremely valuable, to help businesses understand trends and make intelligent decisions.
Why do we need big data?
Technology is constantly developing, and it plays an integral role in most people's daily lives. Last year, an ONS survey reported that 90% of UK adults regularly use the internet.
Online activity has increased throughout the world over the past decade. As a result, more data than ever is being created - and at an unprecedented rate.
The IoT (Internet of Things) has also contributed to this surge in data production and collection. This is a network of 'smart' devices that collaborate to receive and send information to the internet.
Big data analytics allows marketers to keep up with increasing volumes of information. Thanks to accurate data analysis, they're able to improve customer services at a sustainable rate.
How can marketers benefit from it?
Big data can draw specific information from huge pools of data within a matter of seconds. It's often used to analyse customer engagement rates, for example.
Through it, companies are able to assess how many people are engaging with their website at any one time, as well as the average length of site visits.
In addition, it highlights user demographics and spending habits. Firms with access to big data, therefore, can gain a clear insight into their most successful products and marketing areas - and so enhance their sales and marketing campaigns.
Data is vital for business growth. Big data has made it even easier to boost sales and customer satisfaction rates through information analysis. How will it benefit your business?
Copyright © 2019 Article was made possible by site supporter Victoria Harrison.