Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data driven insights
    How Data-Driven Insights Are Addressing Gaps in Patient Communication and Equity
    8 Min Read
    pexels pavel danilyuk 8112119
    Data Analytics Is Revolutionizing Medical Credentialing
    8 Min Read
    data and seo
    Maximize SEO Success with Powerful Data Analytics Insights
    8 Min Read
    data analytics for trademark registration
    Optimizing Trademark Registration with Data Analytics
    6 Min Read
    data analytics for finding zip codes
    Unlocking Zip Code Insights with Data Analytics
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Examining Big Data’s Potential In Predictive Marketing
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Big Data > Data Mining > Examining Big Data’s Potential In Predictive Marketing
Big DataBusiness IntelligenceData ManagementData MiningITMarketing

Examining Big Data’s Potential In Predictive Marketing

David Rathert
David Rathert
6 Min Read
Image
SHARE

ImageThe cost to store and process large amounts of data continues to fall. At the same time, new, simple software tools are emerging that allow companies to meet the single achievement of all great marketing campaigns: accurate prediction and high ROI. How do these new software tools improve marketing?

Contents
A Test Case in Big DataDefining Big DataData SourcesIt’s All About Better ROI

ImageThe cost to store and process large amounts of data continues to fall. At the same time, new, simple software tools are emerging that allow companies to meet the single achievement of all great marketing campaigns: accurate prediction and high ROI. How do these new software tools improve marketing? This blog post gives a cursory look, and our new white paper, Examining Big Data’s Potential in Predictive Marketing, walks you through essential details.

Marketing-specific applications for big data include improved prospect identification, simultaneous ad campaign tests, and highly personalized message creation. With large-scale data analysis tools becoming more accessible, business analysts are predicting continued growth for big data. Tech guru Mary Meeker expects the amount of content and data on the Internet to double by 2014; media firm SiliconANGLE predicts that in 2013, 50 percent of businesses will make use of external data – data that companies purchase, rather than generate in-house – to make business decisions and drive marketing programs.

A Test Case in Big Data

Large data collections hold tremendous potential for marketers when combined with other data, such as internal customer information.

More Read

Analysis of a Bad Indicator
Business Intelligence @ 2K8
‘Google-like IT Automation For the Rest of Us:’ Puppet and Chef
Accelerating “Contribution to your Business” Through DWI and BI
Incisive Data That Makes Small Companies Grow

Take this example, based on Microsoft’s fictitious business case, Adventure Works Cycles (AWC): Robert Smith, chief marketing officer at AWC, a bicycle manufacturer, runs an Internet-based promotion offering 50 percent off bikes. The campaign is less than successful and, after reviewing the data related to the ad and subsequent online purchases, Smith realizes the ROI on the ad was low.

Smith then uses Microsoft HDInsight to import AWC’s unstructured ecommerce transaction data, and he compares that to data describing spikes in traffic on AWC’s website. Then, he uses PowerPivot, to compare those spikes in traffic with weather data obtained through the Windows Azure Marketplace. The analysis shows a strong correlation between warm, sunny weather and web purchases.

For more information about Smith’s analysis and the details he used to make decisions for his campaign, download our white paper.

Defining Big Data

RDA defines big data as follows: a set of data with at least one of the following characteristics – high volume, high velocity, high variety, or high value.

HIGH VOLUME means data that can’t be economically stored in a traditional on-premise database because the cost of storing it is greater than the value it currently provides.

HIGH VELOCITY refers to data that requires a high processing rate but is not large enough to classify it as high volume. For example, an energy company might have devices that include sensors. Each sensor sends a small amount of data every few seconds that is processed by the energy company in order to optimize the device and maximize power production during times of high load.

HIGH VARIETY refers to unstructured data, such as emails or Twitter posts. The make-up of this type of data doesn’t lend itself to traditional relational storage and analysis, but semantic mining can be successfully performed on it with the right software tools.

HIGH VALUE signifies the ability to harness information in novel ways to produce useful insights of significant value that were not previously available.

Data Sources

The big data that companies use for marketing purposes can come from inside the company, another website, or a marketplace. The following examples give you an idea of potential sources of data for your next marketing campaign:

INTERNAL

  • Web application log data
  • Customer email
  • Customer feedback (from a form)
  • Customer feedback (from call center audio recordings)
  • Corporate documentation
  • Contracts
  • Status reports
  • Trouble tickets
  • Data from a product that includes a sensor

EXTERNAL 

Websites

  • Utility providers (gas or electric)
  • Zillow
  • News feeds
  • Facebook
  • Twitter

Marketplaces and Repositories

  • Windows Azure Marketplace
  • Amazon Web Services
  • Databib
  • DataCite
  • Figshare
  • Linked Data
  • Reddit
  • Quandl

It’s All About Better ROI

In our hypothetical Adventure Works scenario, Robert Smith ultimately purchases data from Weather Trends International, which he finds in the Windows Azure Marketplace. The data includes historical daily maximum temperatures, minimum temperatures, precipitation amounts, dew points, sea level pressures, wind speeds, and wind gusts for thousands of locations around the world – all of which he feeds into his new marketing campaign. That, in turn, leads to a more profitable campaign.

To learn more about making big data work for you, download our white paper, Examining Big Data’s Potential in Predictive Marketing.

image: predictive marketing/shutterstock

 

Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

ESG reporting software
Data Shows How ESG Reporting Software Helps Companies Achieve Sustainability Goals
Big Data Infographic
ai in marketing
AI Helps Businesses Develop Better Marketing Strategies
Artificial Intelligence Exclusive
agenic ai
How Businesses Are Using AI to Make Smarter, Faster Decisions
Artificial Intelligence Exclusive
accountant using ai
AI Improves Integrity in Corporate Accounting
Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

requirements for running a successful big data startup
Big Data

4 Elements of Success for Companies that Develop Big Data Applications

6 Min Read

The Big Data in Teradata

7 Min Read
launch a sustainable technology business
AnalyticsBig DataExclusive

How To Use Data Analytics To Launch A Sustainable Technology Business

5 Min Read

Building an Analytical Portal to Support Analytical Culture

5 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence
AI chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Chatbots

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?