As we all know loads of consumer data is created every moment through computation. Via social networking databases and GPS tracking not only is the location of individuals who use certain apps provided but also their conduct, perspectives, interest and all around needs are recorded by search engines.
This data comes in handy to marketers who up until just recently had not really been able to research all of the Information provided because it was highly technical, it was to challenging for the data software being used at that time to process.
Now and thanks to advanced software designed solely for large data processing being introduced many companies are now able to call upon this valuable Information and use it to better their sales percentages. Large data analysis is already being used in most Fortune 500 enterprises so there is plenty software that can be easily found online therefore why would marketers not use this data and all it provides to their benefit.
There are many benefits that are brought on by big data analysis not only to companies that are already up and running but also those that are just beginning. Following are some of the various benefits provided by big data analysis:
Information gathered by social networking aka big data inform marketers of important details their clients may have such as their behavior and interests. This allows marketers to factor in certain points and better target their clients.
Basic client info was used in the past by marketers mainly what was considered demographic such as location, age, education, marital status. But now the parameters have broadened so marketers are better able to identify and more accurately than before target a broader audience who may be inclined to purchase their products.
A perfect example of this is Facebook's new tool; Insights. Insights surveys Facebook's big data supplies useful information on potential clients and their likes, lifestyles, family information and dynamics, shopping habits etc. Having big data on side is the new competitive advantage.
Products are in constant need of an upgrade and with the use of big data upgrades can be made easier by providing marketers with patterns that can help them see what areas in their product need tweaking to better fit the client needs.
Clients appreciate and respect companies that offer them products based around what they are interested in.
