Posted On : 4th April, 2016 by ViitorCloud
#DIGITALINDIA – is an initiative by the Government of India to ensure all government services are made available to citizens electronically by improving online infrastructure and increased internet connectivity. This is one of the best example of increasing Digital presence in our day today life and its importance. Now digital marketer, an entrepreneur or a startup firm all are in need of data affecting their target market or niche. The study of user’s behavior, past trends, ongoing activity in the web, types of search performed by users and keywords connected with it, ongoing interactions in social media platforms, online purchase behavior and increasing trend of mobile platform to search web and make purchases. All these pool of information are so huge that if you pile them in a disk, a cricket ground will not be enough for it. The most important part of this data is, it is increasing at a tremendous speed. All these data are a part of Big Data, which if analyzed carefully with the help of various tools available in the market can be a strong base for successful marketing campaign. If you are an SME it is obvious you might not have ever utilized big data before or many among you even not heard about it. So let me explain you in a nutshell what Big Data is and how to utilize it for effective marketing.
What is a Big Data & How it is effective for Digital Marketers?
Big data is something which is generated with every human interaction with digital media. It is a term used to define data sets that are so large and complex in nature for which a traditional data analysis technique proves worthless. Process includes analysis, capture, data curation, search, sharing, storage, transfer, visualization, and querying. Traditionally marketing were done thru magazines advertising, bill board advertising, flyers and few other platforms and results were achieved. Since Digital Revolution users behavior and their purchasing habit has changed completely. LeEco with Flipkart flash sale was able to sale 70,000 Le 1s phones within just 2 seconds from start of flash sale. This is one of the best example that now we are in digital age. Nobody bother to read magazines and instead substantial number of users switched to online medium to consume digital content. As the end users has changed their medium to consume content so is now business has to change their marketing perspective. They need to target the platform their end users are in, then only it is possible to gain their confidence and business. To carefully frame marketing campaign or take policy decision such business are now in need of Big Data
After Careful analysis of Big Data, marketers can get information as to where there targeted customers are spending time, which type of services they are looking for, how they consume content, what interest them the most to make purchases and answers to many similar questions which later on helps businesses or marketers to frame effective strategy.
Brands such as Macy’s, Tesco, American Express and Wal-Mart Stores utilizes big data, you can learn how they use big data over here
Sources of Big Data for Digital marketers
As we have learned the importance of big data to digital marketers and business, now let us see different sources of it. There can be number of source where digital interaction is going on, few new platform comes into existence every other day, whereas few old platform gets outdated. So let’s pick some of the platform which is widely used by Digital marketers
Web mining is the use of the data mining techniques to automatically discover and extract information from web documents and services. There are three general classes of information that can be discovered by web mining
1) Web activity
2) From server logs
3) Web browser activity tracking.
Nowadays almost all major online companies use this technique to collect useful information. Such as online marketing firm do web mining to gather information about online activity of their competitor & check ranking, search engines use for web indexing, ecommerce website use for competitor’s price scrapping, sales and data service provider use it for collecting leads.
Social media plays a huge role in big data as each second, number of interactions are recorded in terms of likes, shares, reviews, comments. With each of such interactions either a brand, industry trends, outbreak etc. are connected. By analyzing all such interaction from Big Data one can learn user behavior for a brand or popping trend in near future, user’s likes and dis likes etc. Social Media strategy can be framed on basis of those data and it is obvious such strategy are always bound to be success.
Below is an example will prove the effectiveness of data available in social platforms. An infectious disease surveillance systems accurately tracks social media data to inform early warning system and outbreak response.
A Diseases detection app Flu Near you by utilizing big data from social media helps you to predicts outbreaks of the flu in real time.
Data compiled from community platform other than social media such as forum,
Community website, large surveys, polls etc. All these data are similarly stored in Big Data which later on, after detailed analysis are made available for use. To better understand the theory let me put a recent example of crowdsourcing utilized by Mexico City Mapathon.
Mexico City has one of the largest bus route system in the world with almost 60% of entire resident travelling thru bus. Almost 14 million rides a day and nobody knows where exactly all buses go. In fact there was no official route map.
A group of collaborators achieved it by creating a citywide participatory mobile app game with the help of crowd-sourcing, cell phones and algorithms.
Web is not only for social interaction and to perform search but enormous amount of transaction are nowadays done through online medium. All such transaction are collected and grouped to form a Big Data. Transactional data can be in various forms some of them are described below:
Logistical: when a product moves from one point of destination to an another point, such transaction falls under logistical transaction
Financial: Any transaction with financial motives such as online purchase, bill payment and inventory falls under financial transaction.
Operational: Various HR related transactions such as time tracking etc. are covered under operational transaction
Digital: page redirects, clicks, purchase, browsing actions, views and downloaded are a part of digital transaction
Careful analysis of these data helps business to learn the habit of online purchase of their targeted users. Many policy decision can be framed on basis of those vital information
There is a huge surge in online usage of web with mobile compared to desktop. Now in year 2016 mobile web usage has crossed the desktop usage. With more than one billion smart phones vast amount of data is been generated through mobile platforms, all these becomes a part of Big data. If all these data are analyzed very carefully, businesses can get an interesting data about their customer base.
Brands are already using big data from very first stage to take policy decision and frame strategy. Now all SME’s should learn the benefits of big data and put it into practice to take maximum benefits from online medium.