As the Internet has evolved and data has proliferated, new opportunities have emerged for marketers – both in terms of reaching consumers and measuring their return on investment (ROI). Big data has long promised to unlock these invaluable streams of information – and now, new innovations are beginning to deliver on this potential.
For instance, a recent Nielsen thought piece that while single-source data has traditionally been the means through which to demonstrate ROI, big data is now delivering key insights at an affordable cost. AdAge goes into greater detail, highlighting several key data analytics capabilities, including:
- Combining multiple data sets to identify points of overlap that illuminate the who, where, and why of brand interaction.
- Data-management advances that provide more effective (and cost-efficient) customer segmentation, and that help identify more personalized marketing opportunities.
- Micro-targeting capabilities that give companies the information they need to engage audiences with resonant messages through relevant channels.
- Software driven by data-analytics that shares results in a clear, actionable way.
As a result, big data allows brands to interface with customers more strategically and measure the results of these interactions with great precision. It also enables marketers to quickly view how ads translate to sales, and even provides information that helps predict customer behavior. Ultimately, messages are more targeted and customizable – and audiences react more favorably to this personalized approach.
For more specific examples of how big data is modernizing marketing efforts, consider this recent New York Times article .