Welcome to the Business Insight blog, your all access pass to the very best thought leadership, information and tools for creating smarter business strategies and practices. You'll discover a broad range of resources including real-life case studies, insightful analyses, blogs, articles and ideas from leading experts in diverse industries.
|The IBM Business Insight Channel||IBM for Midsize Businesses|
|Most recent||Most recommendations||Most comments||Most visits|
Understand Big Data better by applying it to Marketing
Brock Douglas 270006UJ1V firstname.lastname@example.org |
0 Comments | 5,394 Visits
The concept of ‘Big Data’ has certainly captured the attention of business leaders throughout Australia and New Zealand, who’ve found it easy to appreciate its importance in an increasingly digital economy. However, when it comes to understanding Big Data’s applicability to their own industries, many of them are still a little unclear.
In a recent interview with Australian Reseller News (ARN), I identified that bold leadership that is agile, moves quickly and is willing to test, learn and evolve how they leverage analytics across the organisation is required if organisations are going to move Big Data from hype to action.
How then can you move from hype to action when the concept of “Big Data” can seem overwhelming? A great way an organisation can move from hype to action is to focus on specific use cases within the business. To do this you need to think about “Big Data” in the context of a specific line of business (LOB) – Marketing, for example. The ‘Capitilize on the Power of Big Data to Transform Marketing’ whitepaper is a perfect illustration.
The whitepaper examines how leading marketers in retail, banking, telecommunications, media, travel and transportation have taken advantage of Big Data to discover new consumer patterns, anticipate customer behaviors more effectively, and develop better plans of action.
Whilst complete understandings of the challenges, solutions and benefits are central to this discussion, so too is a concrete road-map for implementation. The whitepaper employs such a framework, through which the Marketing LOB function can unlock tremendous business value, specifically;
• Prepare for the challenges of big data
• Address key marketing imperatives
• Redefe traditional marketing functions
• Improve marketing effectiveness through behavior analysis
• Enhance customer value at every touch with real-time insights
• Begin the transformation
I encourage you to access this paper to see how Big Data can help your organisation integrate large volumes and types of customer data, analyse that data in real time, apply predictive analytics, and generate insights for capitalising on new opportunities.
Access the whitepaper here.