If you simply think analytics and big data are the same thing and assume you know how to use big data, you are already one step behind in the game. Big data will present you with a series of relevant details about your customer. It will rely on the use of social media information, Steven Scott Bayesian believes you can gather details about how a marketing campaign is working, and details about how to integrate online coupons/promos, and other savings, in order to get the most out of your campaigns. Analytics on the flip side is going to give you client-specific information (i.e., how many times a visitor came on your site, turnaround, sales figures, and funnels, etc.).
Big data and analytics should be used side by side, but are not the same thing. Understanding big data means you are understanding a comprehensive view of your business, how it is working, what is working (and what is not working), and will provide you with essential details so you can implement changes, and implement new strategies, in order to ensure your business is going to function as it should. Understanding big data will provide you the resources you need, and the details your company requires, in order to take an integrative approach at implementing and changing your company, to ensure you are making the most out of your marketing dollars (and your spending budget in general).
Why is it important to ensure you are understanding big data? Some reasons include:
– It provides a company in-depth guidance/review of how their marketing tactics are working.
– It allows you to implement other marketing tactics and social media guides, in order to get the best results when offering a sale, or providing customers with coupons they are going to use.
– It gives you charts, graphs, and other graphic details, so you can better view how your company is working.
Basically, when you understand the ins and outs of big data, you understand the intricacies of how your company is working. You will understand why some projects/campaigns work, and why some do not work. You will be able to implement your social media campaigns, your sales teams, and integrate how you can implement further changes within your organization, in order to ensure you do what the customer is looking for and to get the returns you are hoping to get as a business owner.
Big data, especially in today’s competitive industry/online driven world, is what can differentiate your company from a local competitor. It can be the missing link that your company has been looking for, to help push you over the top when it comes to implementing a social media strategy. It can provide you the details you’ve been missing, so you can learn what your customer wants (versus what you think they want).
As a business owner, you have to utilize all resources presented to you. Big data is a major component to helping you grow, develop, and ensure your company gets the most out of the campaigns you implement, no matter how much you have to spend when marketing/targeting your audience.