Collecting behavioral user data, such as affinities, interests, demographics, past purchase data and any other available user-centric information may have a significant, positive impact on user experience and business growth. It is a dynamically evolving area, which involves complex machine-learning algorithms and data mining capabilities.
The influence of social networking on the stock markets, either through algorithmic trading or via social trading is here to stay. While there are always risks with an unregulated medium like the social media, the pros far outweigh the cons. It will be interesting to see how this medium matures over the next decade.
Mastering big data analytics isn’t just a challenging task, but an unprecedented one. Gathering information about consumer habits is nothing new in the marketing world, but the scale of current information is an order of magnitude beyond what most organizations have been accustomed to handling. According to IBM , 2.5 quintillion bytes of data (that’s a 1 followed by 18 zeroes) is generated in a single day.
While everyone seems to be firmly focussed on the opportunities emerging from big data, especially that driven by social media, it's important to not forget about the small insights derived from more personal interaction.
Our smartphones and tablets are data-generating machines. This data is telling our individual stories – where we’ve been, who we’ve connected with, what we bought, where we’ve eaten, and our upcoming vacation. As brands, don’t we want to capture this data, these stories, and personalize them, and make them better for our customers?
Actionable data will increase your YoY revenue. Take an objective look at your business today and get off to a great start in 2015 using data-driven strategies that take the guesswork out of marketing and customer retention.
A recent Cambridge/Stanford study showed that Facebook data can generate a more accurate view of a person's personality than their friends, family - even their partners. This is another wake-up call to the power of social media data, something all marketers need to be taking seriously.
Today’s volume and variety of consumer data has presented businesses with a unique paradox: understanding customers and providing them with increasingly relevant experiences is both more possible and more difficult than ever before.