Big Data Analytics. Are you scared? Don’t be.
I’m writing from the 2015 AAF District 10 Convention, and just heard Jed Jones, MindEcology speak about big data and its role in advertising. It inspired me to tell you what big data is and why you should take it seriously as a business or marketing professional.
First, what is big data? To summarize, it is a lot of freakin’ data. In fact, “By 2020, 40 Zettabytes (40 Billion Terabytes) of data will be available in the world.” – Jones, 2015.
To help you visualize, it is 40 trillion gigabytes, or 40,000,000,000,000,000,000,000 bytes. That’s 40 x Million x Million x Million .mp4 movies. And the creation of information though the progression of tech is exponential. So by 2025, we could have another accessible 40 Zettabytes of data.
Anyways, like I said, it’s a lot. But, don’t let that intimidate you. We have the technology to help you take a bunch of data and make it usable data; data that will make you a brilliant business leader.
Big data’s true value comes from it’s manageable Volume, Velocity, and Variety. So, it’s big, it’s fast, and it comes in many forms; not just numbers. What are the technologies marketing agencies like ourselves use?
The three technologies to help us manage our client’s data are, Distributed, Storage, Processing.
A marketing agency’s true value in regards to data comes from two things. First, its proven process in asking the right questions, collecting the data you need, and segmentation of that data.
As a business owner or CMO, so you will understand who your customers are, what they are doing, and how they are as a person; both physically (demographics) and emotionally/behaviorally (psychographics).
Secondly, after that marketing agency finds all of that beautifully rich data, it’s time to analyze from clustering. Find the answers to your questions, like, “Did people do what I thought they would? What should I change about my business model?
If you’re not tapping into your available resources as a business person, you may not survive the wave of data-driven decision makers looking for today’s advanced signs through big data.
If you’re a business owner or marketing director looking for answers, email us at info@agencyentourage.com. Or visit our contact page.
Have a Nice Day!
