Use of Big Data in Various Digital Marketing Stage

Introduction 3 1. The Problem 4 1. Big Data Moment of Truth 5 1. Characteristics of Big Data. Volume 5 1. Conclusion 12 2. References………………. Abstract With the inception of big data, many businesses are using the approach of big data to change enterprises. Many companies worldwide are contemplating or using big data in countless ways to increase business value, reduce fraud and risks in the marketing and financial departments to bring efficiency in those departments and increase customer satisfaction. With big data, companies can easily track their customer preferences, products sales and preference of new products in the market Reed (2015), says that big data use in any business organization commands change in thinking ways and strategies while combining enterprises’ workflow with business analytics. The challenging desire to keep consumers satisfied and treating them well by availing to them best and right commodities at all times has motivated the need for customer relationship management and engagement through digital channels provided by big data.

According to Skiera and Ringel (2017) customer engagement entails the manifestation of customer interest and behavior towards a certain brand that goes beyond selling or purchasing deals. For that reason, organizations have come to realize that traditional customer relationships that focus on gathering analysis of customer data are essential in customer management and successful marketing strategies. Moreover, the extensive development of the internet, big data sources and forms and digital media technology platforms has led organizations to focus attention to online marketing strategies and utilize these channels on engaging their customers. According to Reed (2015) in their effort to outdo their competitors and gain advanatge, many organizations have started using online customer management by use of software tools that facilitate the whole process of customer engagement and improve online campaigns with a keen emphasis on customer behavior and needs.

Volume: The volume of data accumulates over time and usually depends on the speed at which the data is arriving. The large volume of data is noticed over time when the data is being analyzed. It demonstrates how the shift from micro-level data to more complex and personalized data has happened quite fast. Storage prices have declined and organizations are coming up with new algorithms that are capable of storing and making good use of big data. Speed: Ahonen (2015) asserts that the processing requirements of data and depending on its nature range from kilobytes per second to terabytes per second. Big data offers a quite different type of decision making approach that acts for the benefit of its user. Practitioners can apply big data to make better investment and strategic marketing choices that could save costs.

With better analysis managers can easily establish the positive impacts that big data may have on their business strategy. Model: (Big Data Moment of Truth (Source: SARSAR, The impact of Big Data and related technology on Business Decisions, 2015) 1. Pre-campaign period: The Company sets the agenda and establishes the course of action that they need to take to achieve success in digital marketing. Online consultations will enable collection of structured and unstructured data that helps provide more information regarding customer demographics and preferences. To many organizations, this period is the most critical one. Marketers require essential skill of filtering and dealing with unstructured information that is collected through online platforms. Online tweets, blogs etc can provide substantial feedbacks that can be analyzed to improve the marketing campaigns.

It becomes crucial for the entities to incorporate automated tools, methods and techniques to utilize these feedbacks into decision making processes. Traditional data mining techniques could easily and efficiently analyze such data to the satisfaction of the users. However, business software applications have evolved leading to growth in data volumes and complexities to effectively handle big data (Silver, 2015). Big data can now be obtained from both offline and online sources. The information may be structured, un-structured and may be in any form including videos, texts, and images from media platforms. The expansion of information in terms of format, volume and structure call for techniques capable of synthesizing voluminous information in real time and produce desired results. Reed (2014) argues that the biggest challenge with big data is to look and concentrate on what is meaningful not just what is possible so that digital marketers and researchers can benefit from their efforts.

Faisal (2016) asserts that having the knowledge on something is never enough, for the big data to be valuable, it requires professionals who possess skills the ability to analyze and understand the dynamics of the digital world and create meaningful solutions to organizations marketing objectives or challenges. Big data should be used to achieve competitive advantage by channeling resources to the target market segments to create effective relationships. According to Silver (2015), with the right capabilities and skills, an organization can create a wide range of data sources such as the internet, social media, and geotracking information stores to come up with a complete profile regarding their customers and use that information to maintain better relationships. Benefits and Challenges of Big data to Digital marketing There are many challenges to effective digital change that are presented by big data because the interaction between organizations and digital technology is quite complex according to Faisal (2016).

However, as Kovalchuk and Zaburmekha (2017) notes, not all businesses have implemented the digital changes that are brought about by big data. The reason behind these still remains to be investigated by future researchers. Nevertheless, the impact of big data on digital marketing remains largely beneficial if properly utilized in line with the business strategies. Conclusion The majority of academic researchers within digital marketing and big data focus on the theoretical dilemmas of the technological revolution. As Reed (2014) points out, there are a number of studies investigating the impact of big data on digital marketing and that answer essential research questions on the topic. Marketing Strategies in Online/Digital Marketing.  Account And Financial Management Journal. doi. org/10. afmj/v1i8. Marketing digital technologies for organic product consumers’ research.

 Marketing And Digital Technologies, 1(1), 34-51. doi. org/10. mdt. org/10. big. Reed, D. Future Foundation conference — Big data and the future of insight.  Journal Of Direct, Data And Digital Marketing Practice, 15(4), 356-359.