Big Data provides opportunities for marketers to add the missing math to their creativity. Marketers can analyze data to attach significant results to their brand building exercises. These valuable insights can help organizations to take informed sales and marketing decisions.

Here are 5 essential ways that organizations can use Big Data to churn out smarter marketing decisions:

1. Tracking the marketing budget

Marketing spend has an uncanny ability to go spirally out of control, and hence adversely impacts the ROI. Using Big Data Analytics, marketing teams can track the effectiveness of their efforts, thus prompting them to focus on targeted customer engagement tactics. Analyzing feedback from social media listening tools and customer behavior analysis can be powerful sources to act in this direction.

2. Enhance customer intelligence

Big Data in the form of unstructured data from social media, videos and blogs, can augment the customer intelligence of a company which is traditionally dependent on transactional data, CRM records and past purchase patterns. With an enhanced intelligence, the organization can create personalized lead management programs.  When a lead visits the company’s website via an AD-link, user experience can be improved for higher conversion rates. This can be achieved through data such as usage maps from a web page that can reveal areas of the page that are most frequently visited.

3. Watch and win the competition

Data on the web is freely available. Does it not make business sense to gather data not just about one’s own company, but also about the competitors? This can enable a business to measure its own success vis-à-vis its competitors, thereby gaining insight from the overall market scenario. This can be translated into better marketing initiatives for future and inoculate competition.

4. Data driven approach to content marketing

It is a smart decision to analyze marketing data to measure the effectiveness of published content such as blog or article. Data driven content marketing strategy can streamline the efforts in creating the appropriate information that will engage your target audience. This can help to convert the readers into customers. Similarly, collating data from the marketing tools and technologies helps to engage in other data driven marketing opportunities to improve business.

5. Reach out to target audience

What is the point of running a campaign if it does not strike a chord with the audience? What if it went to the wrong people at the wrong time? The knowledge of customer demographics, preferences and geographical whereabouts of a potential audience can be extracted from their social media presence and personal device data like location data. Targeting market campaigns to a smaller audience that is more likely to respond brings down marketing costs and increases the ROI.

To stay ahead of competition, business of all sizes – small, medium and large, must quickly incorporate Big Data analytics into their processes. The huge volumes of data can be a deterrent. Here is where Big Data analytic services can be a great help. Companies can engage experts like Baryons to implement Big Data on Hadoop solutions for their complex business needs.

It is not going to be a smooth sail! It never is!

Will getting insights from Big Data give you the Midas touch? No! After all, it is data, no matter how well organized. The intellect and experience of your business leads will still be needed to translate the data into decisions that make sense for your goals.

If there is anything spectacular that marketers have been waiting for, it is Big Data. There is no denying that Big Data is the new kid on the block that is grabbing the eyeballs of all marketers. Will you befriend it?

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So far so good, but what’s the use of data, if it cannot be useful enough? This form of data is not ‘one size fits all’. Imagine how many types of database schemas will be designed to store the various types of data. Can there be a generic template defined for say video clips of varying lengths and specifications?

Capturing the Goliath of data? Mammoth task!

Maybe the best ways to store this data is in its raw form – and not compartmentalize it into pre-defined structures. Yes, that’s it! The ‘unstructured data’ is what is called Big Data in technical terms. Big because of its huge volume! Big because it has tremendous potential to unleash the deepest of insights that businesses can leverage to their advantage.

I mean it is out there, all you’ve got to do is grab it, right?

If only it was that simple. It’s a jungle of data out there!

Picture this! Unstructured data in multiple forms needs to be fed into software intelligence programs and systems to make some useful analysis for businesses.  Of course data mining is based on this concept.

Practically on paper, you need a platform to structure the Big Data and this is where Hadoop comes in. Originally designed to be a web search algorithm, it is perfect for the Big Data scenario, since it distributes data and applications on commodity servers in the form of clusters. Concurrent processing of huge volumes of data is its USP, so as the flexibility, scalability and low cost. The fact that it is supported by a community of technical experts and is not the proprietary of any one brand (yes, it is open source software!) means it is vibrantly up-to-date with the changing trends of the market! Calling  themselves the Apache Software Foundation (ASF), this is a not-for-profit Hadoop ecosystem.

All’s hunky-dory? Perhaps not!

Like the Murphy’s law Hadoop has is not without its own difficulties:

The experts who know Hadoop are limited in number. So if companies need to adopt Hadoop, resources are not easily available. The iterative algorithms used are not effective as this concept is file dependent. Data analytics use iterative algorithms extensively, so Hadoop poses some problems there. The very advantage of Hadoop distributing data over multiple servers also poses the risk of data security, which is a big challenge for practical adoption of the technology. The available tools for the management of data and smart governance are also limited.

Is that a deterrent? No!

Challenges pose a motivation for innovation! People are trying to break the ground to overcome the problems with Hadoop as they try to unleash the full-scale potential of Big Data. New tools and techniques are emerging that are trying to address the risks and hurdles.

Toying with the idea of using Big Data for your enterprise? Have any questions and doubts in your mind? Just reach out to us at insights@baryons.net  and our experts in Big Data will be delighted to help you!

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