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The Impact of Big Data in Marketing
Organizations across industries are leveraging big data to better understand consumer behavior and initiate powerful engagement. Various tools for analyzing big data are enabling organizations to the right information to the right person, at the right time. However, when it comes to injecting big data into marketing, firms need to be more careful in understanding its need and simultaneously using it. Today, Marketing departments need to self-assess themselves to ensure that they are ready to derive essential data from the data silos that readily available for them. The recent strides made in the big data have the ability to deliver insightful and critical information to the companies to make informed decisions. Alongside, the rapid advancement in the technology has made it equally easier to grab those huge data records and present it in as appealing manner. Now, it is up to the stakeholders and innovative business minds to use it in a way that brings value to them and their consumers. It involves getting analytically literate people on board who can decipher numbers and data points into relevant data.
Though with big data, the power is in the hands of the marketers to anticipate about the right customer segment, right message to be delivered to them at the right time. With data, technology, and the essential tools becoming powerful and easy to manage, it is the people and companies that are suppressing the potential value that can be delivered through this information. In the present situation, only those marketers will reach the finishing line that can efficiently align those capabilities with the company’s and brands’ business objectives and transmit the information effectively across the enterprise.