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Big Data and useful knowledge

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Big Data and useful knowledge

Toni Martí talks about the changes that data analysis has introduced in business and the useful knowledge that Big Data can deliver.
Toni Martí , Customer and Data Strategist in Irish International BBDO and Professor of the Master in Direct and Digital Marketing at UPF Barcelona School of Management , introduces us to the changes that data analysis has introduced in business and in marketing and VP Technical Email Lists departments. Like Big Data, it must provide useful knowledge so that this knowledge triggers an action or an action plan.

In this world of Big Data , says Toni, there have been three stages. Initially, there was no awareness that the data we had from customers could be of use to us from a marketing management point of view.

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The second stage, takes place in the period from 1995 to 2000 and it is in these years when it begins to become aware of the importance of data, and in some sectors such as banking and telecommunications, they understand that it is essential to register and process the data intelligently . New database technologies such as data warehouse appear , basically its function is to structure the information collected by transactional systems that are those that support day-to-day relationships with customers. From these data warehouses some very powerful data analysis techniques and methodologies are developed in terms of describing and predicting some customer behaviors.

It continues along the same line stating that today many of the organizations continue in the era described above in which there are database systems, but they do not have them really structured, integrated and much less are exploiting them in terms of knowledge useful applied to Betting Email List.

There are other organizations that have evolved a lot and that are developed in the third stage, this stage is known as the Big Data era , which represents an important change because here the volumes of data and the flow of information that we have from our clients . These data change every millimeter second, which is why Big Data must provide us with access, registration and treatment of these volumes of data.

The Big data , we can use all the information in real time from the point of view of marketing will have a clear application. This is the trend that has not yet been applied, but it is a scenario that will soon be reached, where the importance is not the data itself, but what the information is going to be used for . Useful knowledge of it.

What is useful knowledge? Useful knowledge is that from a knowledge an action or a commercial action plan can be applied, therefore it is not about what data we have or what answers we can obtain but rather that we ask ourselves the right questions . For example, the following conceptual framework that is developed in three axes.

FIRST AXIS: Make aselectiverecruitmentof my clients. Not all clients are the same, all clients are not of our interest, therefore asking ourselves relative questions as towho are our best clients, and which ones are interesting from the point of view of recruitment strategies is essential.

SECOND AXIS: Customer development, optimizing the profitability of our customers , that is, ensuring that they continue to buy what they have already bought from us or that they increase the purchase of what they already buy from us or even that they buy other products that they apparently did not need, but now if they sue. And so a new opportunity opens up to grow with those who are already customers.

THIRD AXIS: Loyalty . Customers who stay longer with the brand.
So if the questions have to do with any of these axes, questions will be interesting from the point of view of business , not from the point of view of the data or technology , and will thenthe question that It will look at what data is available or which is not available but which can be achieved and from there the techniques and the appropriate methodology will be developed to reach the answer.

In conclusion, Big Data is crucial because marketing increasingly goes through the exploitation of data and customer knowledge. The information and the intelligent treatment of the data turned into this useful knowledge will be a very clear competitive advantage for the organizations that know how to exploit it.

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