It’s no secret that the world of marketing has become increasingly sophisticated in the ever-evolving world of digital media. This new complexity is derived from marketing data becoming exponentially more massive and fueled by today’s discerning, fluctuating consumer base. Big data is here, and it's changing everything.
What is Big Data?
We produce and consume roughly 2.5 quintillion bytes of data daily, and 90 percent of the world’s data has been generated in the past two years alone, according to IBM. Whether we like it or not, all of the data we’re dealing with and managing in the web marketing space is big data. In a nutshell, big data is information that is gathered from social media, GPS, photo sites and general Internet browsing — pretty much anywhere that thousands of users congregate to post and download information produces massive data sets referred to as big data.
Big Data: The Future of Marketing
Five years ago, the idea of web marketers leveraging big data to deepen their understanding of potential customers was laughable. The cost alone of backing up terabytes upon terabytes of marketing data on a daily basis was almost overwhelming. But now with the advances of storage, managing big data in the marketing environment is easier than ever. Many companies are taking advantage of online backup comparison sites that help ensure realistic and affordable prices for online data storage.
Beyond the lowered cost of managing big data, big data-centric social businesses have received a lot of interest from investors over the past few years. Many of these social businesses — Facebook, LinkedIn, Vitrue, Buddy Media, etc — are all resources that marketers use on a daily basis. This is all outstanding news for the marketing community. Never before in advertising and marketing have millions upon millions of users all congregated in the same place. But the big problem with this social business trend, according to Business Insider, is a lack of effective measurement.
This is where big data analytics come into play. It allows marketers to gain sophisticated data on millions of users and social impressions in a single, unified big data analytics dashboard.
Big Data in Healthcare
One of the major industries benefiting from big data technology is healthcare. Big data technologies are making it easier for healthcare professionals to manage data that both helps increase the efficiency of mission-critical healthcare processes and makes it easier to help patients of all kinds. With the right systems in place, healthcare facilities can easily understand and deliver data to patients and other professionals throughout the facility. Big data streamlines these healthcare processes through a combination of virtual administrative assistants (not unlike Apple’s Siri), data mining and analysis, data collection and market analysis, as TechTarget notes.
Big Data in the Entertainment Industry
Big data is even reaching its way into the marketing sector of the entertainment industry. Take the film industry for instance. The film industry needs to embrace this new era of big data to keep up with the growing demands of tomorrow’s moviegoers, opines Steve Canepa on Business Insider. This idea of big data and entertainment industry marketing even trickles down to the video game industry. As more games become social and rely on sophisticated user data, the only way to keep up is through the use of big data technologies.
Guest post by Sarah Phelan, everyone's favorite IT gal. She does tech reviews on the latest in virus protection software and web hosting.
About Matt Schoenherr
Matt is a husband, father of four, marketing consultant and founder of Marketing Ideas 101. As a student, teacher and published author, Matt supports the worthy goals of service and commerce in the small business and nonprofit communities. You may find him on Google+, Twitter and Facebook. Creative marketing ideas and marketing strategies may be found at MarketingIdeas101.com.