Big Data is a tasty morsel for marketersów. In these five spheres data analytics is making a real revolution
Digital economy is slowly becoming a reality. The successful companies will be those whoóre going to explore the art of data collection and monetization. This process involves the use of large collections ofóin digital information for sales, marketing or business optimization. Marketers around the world are turning to Big Data to improve the effectiveness of their existing activities.
Data is flooding us from every direction. From the report „Data Never Sleeps 4.0” It shows that during one minute Internet users browse over 159 thousand. pages, publish 400 hours of materialóin YouTube video and share over 216k. pictures on Facebook. In the United States alone, over 18 millionóin megabytesóin data. The Internet has become a giant collection of information about its usersów, whichóThe reason that marketers leave their data there more or less consciously. An average Kowalski cares about it as much as last year’s snow. Until recently, most companies attributed similar value to Big Data, but that period is now coming to an end. Data is becoming a commodity, like hot cakes, and even more valuable are the systems that enable its analysis and monetization. Here are 5. areaóin whichóhe Big Data is becoming the most important catalyst for the development of marketing.
1. Know your customer well
One of the most difficult tasks that every company faces is to understand the way its customers think and function. Such knowledge allows not only to adjust the offer to their real needs, but also helps to maintain consumer relations. To find out moreóThe analysis of a customer’s online activity, purchase history, and the customer’s profile allows for the development of effective advertising campaignsóThe biggest data warehouse of this type is in the area of shopping decisions and important life events, such as e.g. Starting a new relationship or changing a job, allows companies to target their customers and „tailor-made” offer. The secret lies in combining data generated internally with 3rd party data, whichóThe data is obtained from external sourcesóe.g. Specialized algorithms are used for their analysis. It has reached for them e.g. HMV, a British company that specializes in selling productsóin multimedia, dissatisfied with the resultóin traditional mailing campaigns, targeted to a wide audienceów. They were replaced by a system of recommendations, whichóThe ads are selected by analyzing the stream of clicks made by our clientsóThe data collected and processed in this way makes it possible to determine how the customers feel about the product and their shopping preferences, and to send them personalized recommendations. The data used to generate emails tailored to individual customer profiles resulted in an open rate of 70. The share of publishers on mobile devices and 50 percent. on PCs.
2. DetailsóThe key to success is segmentation
Segmentation, or dividing customersóThe analysis of a customer’s online activity, purchase history and behaviour into groups according to their characteristics and behaviour is a standard activity that enables the development of effective advertising campaigns.in. understanding their needs and tailoring offers and marketing communications to them. Thanks to Big Data, this process can be streamlined and the segmentation itself becomes more precise. Big data analyticsóThe data enables róThe most important factor is that the number of anonymous searches is increasingóThe number of people who use their mobile phones to make life decisions, purchase decisions or key life events is increasing. Properly collected and processed data makes it possible to determine howóThe secret lies in combining the data generated by the multichannel channel with the data generated by the productóThe data used to generate emails tailored to an individual customer profile allowed us to achieve a 70% open rate. Big Data is proving to be róThe data used to generate emails that are tailored to the. It is analyzed how many of the individualócustomer segmentsóare able to pay for a given product or service. Thanks to such segmentation, Bank of America changed the wayób the perception of its customersów. This has led to a change in the marketing slogan, whichóry previously encouraged to use a home mortgage to send children to school, to one thatóry persuades them to take out a similar loan to pursue their personal desires: „Use the value of your home to do what you always wanted to do”. As a result, the commonóThe conversion rate has risen steeplyóby a factor of ten.
3. New quality in banner campaigns
Advertisements published „at random” have become the bane of the user’sóon the web all over the world. Internet users, overwhelmed by flashy banners attacking from everywhere, whichóIf the recommendations do not match their needs or interests even in the slightest, they widely install plug-ins that block their display. According to the OnAudience report.As a result of this segmentation, Bank of America has changed the way in which AdBlock type tools are used. The number of page views in our country is being blocked. According to eMarketer, in 2016. Due to such software, the global losses of publishers areóThe value of the data reached as much as USD 27 billionów.
The answer to the crisis are solutions using Big Data for precise targeting of recipientsóin a narrow target group. The recipients of such displayed advertisements are selected through deep analysis of their activity, possible thanks to information provided by cookies. The largest data warehouse of this type in Europe and one of the largest in the world is a Polish company Cloud Technologies, whichóThe company already processes 3 billion anonymous internet user profilesów. Audience Network agency, using data provided by Cloud Technologies, has carried out a campaign for one of the leading insurance companies. Effect? 50% of. increase in conversions, at a cost of 33% less. Cost per click fell by 48%.
4. Multichannel on the offensive
The customer’s interaction with the brand today takes place through many channelsów. Only the analysis of all data streams via systemóThe Siemens Mobility Data Services DMP (Data Managing Platform) provides a holistic view „customer journey”, The history of all such interactions. In this wayób companies can evaluate the effectiveness of aólnych channelów and based on this data plan marketing campaigns and optimize advertising budgets. By using analytics tools, marketers can refine content to better fit individualólnych channelóin communication. HDFC, one of the largest bankóIn India, using a deep analysis of the history of interactions with customers, personalized communication in selected channels, optimizing the so called. customer experience. Integration of data from the bank’s website with the ATM management system made it possible to.in. Automate the language selection process, which has led to a reduction in costóThe integration of the data with the ATM management system allowed us to reduce the time of use of the machines by 40 percent.
5. The second life of the systemóin IT
The Internet is growing by leaps and bounds. From the estimation ofóOracle shows that the amount of online data has increased by 40 percent year on year, and in 2016 it exceeded the amount of data that was used to find cheap flightsóg 10 Zettabyteów. Systems whichósystems that don’t take full advantage of them don’t have a place in the digital economy. Gartner researchers predict that thanks to Big Data analytics, by 2020. as much as 80% processóin business in companies will be upgraded. One of the mainóThe system has been able to automate the language selection process, which has led to a cost reductionóin this upgrade will be „data enrichment”, That is, powering the system toóin 3rd party corporate data. For enterprises, such a solution means a completely new chapter in sales, marketing and business analytics. Not only does it allow you to better identify your customer profile and get a 360-degree view of them, but it also enables you to acquire new, valuable customersów.
To streamline logistics processes, Siemens Mobility Data Services processes data from thousands of sensorów, trainóin, rail and chainóin delivery, along with data on the processóin repair and weather. Combining all key information streams into one system has helped the company virtually eliminate downtime and make transportation faster, safer and more energy efficient. Modern system using Big Data effectively predicts failures ensuring uninterrupted supply chain.