The use of big data is useful in the development of marketing strategies but not only, as a recent case shows.
When you hear about big data, you probably immediately think of actions geared toward marketing strategies such as market analysis andcompetitive analysis.
But that’s not all!
Continue reading this article to find out what big data can be instrumental in besides marketing.
What is big data and its role in marketing.
It is undoubtedly widely believed that online data are used and exploited primarily for a marketing purpose.
Conceptually, this view is not wrong, as for conducting market research and competitor analysis, big data is the most valuable tool for companies.
If you think about what big data is for, chances are the first image that comes to mind is about online advertising campaigns, social media, and generally anything that involves marketing.
This should come as no surprise, since the Web is indeed a primary channel of communication and sales. Net of this, it is easy to see why people, when they think of online data analysis, almost unconsciously connect big data to something related tomarketing operations.
Big data is all that information data, structured and unstructured, that can be accessed. Of course, knowing and being able to read them results in enormous advantages and benefits for companies.
Benefits you obviously shouldn’t do without if you intend to drive your business flawlessly!
Indeed, marketers aim to understand their customers and find the best way to reach them, and we are sure this is a primary goal for you.
Thanks to big data analytics, especially by studying on a large scale what people search for on search engines, what feedback they leave in reviews or how they express themselves on social media, it is easier for marketers to get a clear picture of what people’s needs and wants are, and based on these to plan more efficient campaigns.
Of course, in order to harness the potential of big data, it is not only important to know about it, but to know how to use it.
That’s why amarket research agency like ours has a team of data analysis specialists who help various companies best outline their strategies.
Not just marketing! Big data is also an asset in other respects.
In addition to the most obvious aspect of the usefulness of big data, that of marketing, it is only fair of you to consider other important areas of application of these tools.
Think, for example, of business executives. If you are in a similar role, you know very well how important it is to make business decisions based on certain, reliable, real-time data.
But data also comes to man’s aid in operations, such as in customer service, where operators need to interpret new problems immediately.
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Big data is also used in research and development, such as when studying new products or services to be brought to market. In these cases they serve to help you understand how to improve the characteristics of these assets so that you can develop them to the fullest.
In addition, online data provide a thorough understanding of the past, a clear picture of the present, and insight into possible future scenarios.
The Web therefore is not simply a showcase for marketing, but a large database in which social, economic and technological changes can be understood.
Now we want to submit to you a fresh example related to this kind of data use, found in an event that literally caused an earthquake in the world of soccer, which you no doubt have heard about.
Big data in the recent case of Superleague.
Even in case you are not a soccer fan, you have probably heard through TV and social media about the fuss raised by the Super League. If not, let us see in a nutshell what this is all about.
Last month, like a bolt out of the blue, came the announcement by some of Europe’s most prestigious and wealthiest soccer clubs of the founding of a private league detached from soccer’s institutional bodies.
Some clubs in essence stated that they wanted to embark on their own path of creating a limited-participation tournament, which would always have access to the usual teams (the founding clubs precisely) plus some by invitation, with a format that would in fact allow them to share the proceeds without intermediaries.
This news ignited an impressive escalation of reactions from insiders, former players, journalists, and of course fans.
We at Central Marketing Intelligence have analyzed a huge volume of mentions from the network, i.e., social media posts, articles, then comments, interactions, etc.
The spike in interactions occurred soon after the project was announced, and the protagonists were mostly men aged 25-34, predominantly in the United Kingdom. This is not surprising since most of the founding clubs (as many as 6 out of 12) are British.
These clubs were in fact the first to declare that they would shelve the project because of the widespread disapproval regarding this hypothesis, which emerged precisely from the voice of big data online.
As you can guess, the weight of this data in the decision of the properties of these teams to abandon the idea of the Superleague was significant.
In fact, try to imagine what would have happened if most of the interactions had shown a different trend.
In such a scenario, it is entirely plausible that these companies would have continued expeditiously down that road, encouraged precisely by general network approval.
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In conclusion.
Now do you see why it is so important nowadays to keep constant tabs on online big data? Thanks to them you can monitor any target market at any time.
Relying on a big data analyst can be the key to implementing informed choices and optimizing whatever goals you set for your business.
We at Central Marketing Intelligence are big data professionals and are available to you for advice anytime.
In the meantime, we would like to make available to you a tool designed by our team to help you understand what your level of awareness is of the business in which you are active.
What are you waiting for? Conduct our Data Strategy Check-Up now!
