By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    data science anayst
    Growing Demand for Data Science & Data Analyst Roles
    6 Min Read
    predictive analytics in dropshipping
    Predictive Analytics Helps New Dropshipping Businesses Thrive
    12 Min Read
    data-driven approach in healthcare
    The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas
    6 Min Read
    analytics for tax compliance
    Analytics Changes the Calculus of Business Tax Compliance
    8 Min Read
    big data analytics in gaming
    The Role of Big Data Analytics in Gaming
    10 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: What the “Small Data” Revolution Means for Marketers
Share
Notification Show More
Latest News
ai in automotive industry
AI Is Changing the Automotive Industry Forever
Artificial Intelligence
SMEs Use AI-Driven Financial Software for Greater Efficiency
Artificial Intelligence
data security in big data age
6 Reasons to Boost Data Security Plan in the Age of Big Data
Big Data
data science anayst
Growing Demand for Data Science & Data Analyst Roles
Data Science
ai software development
Key Strategies to Develop AI Software Cost-Effectively
Artificial Intelligence
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Business Intelligence > CRM > What the “Small Data” Revolution Means for Marketers
Big DataBusiness IntelligenceCRMData MiningExclusiveMarketing

What the “Small Data” Revolution Means for Marketers

CommandIQ
Last updated: 2014/03/26 at 9:22 PM
CommandIQ
6 Min Read
Image
SHARE

ImageTo hear the pundits tell it, Big Data is going to revolutionize everything we do as marketers. By tapping into data on consumer behaviors ranging from where we shop to what apps we use and which comments we “like” on Facebook, Big Data can help marketers understand their audiences infinitely better than they did previously and therefore send more targeted, more personal communications custom tailored to each individual user.

ImageTo hear the pundits tell it, Big Data is going to revolutionize everything we do as marketers. By tapping into data on consumer behaviors ranging from where we shop to what apps we use and which comments we “like” on Facebook, Big Data can help marketers understand their audiences infinitely better than they did previously and therefore send more targeted, more personal communications custom tailored to each individual user. There’s a reason why IDC forecasts the market for Big Data to be $16.1 billion this year.  

And they just may be right. But the truth is, Big Data can also be expensive, cumbersome, and intimidating. Since most of us got into marketing because we had a knack for language and stories—and oftentimes an aversion to anything remotely resembling math—we must rely on data scientists or engineers to help us even access our data, not to mention make much sense of it. 

The good news is that in many cases, Big Data isn’t always necessary. Sure, it would be great to be able to analyze billions of actions from millions of consumers in order to understand our audiences better, but it’s often more practical to start with smaller subsets of data and work your way up to Big Data incrementally.

More Read

ai in automotive industry

AI Is Changing the Automotive Industry Forever

SMEs Use AI-Driven Financial Software for Greater Efficiency
6 Reasons to Boost Data Security Plan in the Age of Big Data
Growing Demand for Data Science & Data Analyst Roles
Key Strategies to Develop AI Software Cost-Effectively

This is where Small Data comes in. Small Data is manageable. Small Data is simple. Small Data is, well, “small.” For instance, if all I really need to know is which subset of my customers is most likely to respond to my VIP campaign, Small Data lets me create a list of users who have spent more than $250 over the past 30 days. Or if I want to know which channels (mobile, email, web, etc.) a customer prefers, Small Data can tell me whether that specific customer has responded more often to emails or a push notifications in the past.

Allen Bonde of the Small Data Group has become one of the foremost thinkers on Small Data, and he describes it as “the last mile of big data,” explaining that it “connects people with timely, meaningful insights (derived from big data and/or ‘local’ sources), organized and packaged – often visually – to be accessible, understandable, and actionable for everyday tasks.”

Small Data relies on the data you already have in place to help you make smarter decisions regarding your targeting, messaging, and campaign strategies. It does not require extensive scrubbing or transformation of large piles of data, but rather a simple analysis of the data points that really, truly matter to what you are trying to accomplish.  

Proving the value of Big Data and getting executive sign-off for Big Data analysis tools can often be tricky. But Small Data allows marketers to start small, demonstrate success, and grow their business intelligence efforts over time. It allows you to prove that data and analytics can indeed help drive business results and improve your company’s Key Performance Indicators, and that it doesn’t require a huge commitment up front.

Small Data also does not require that you hire teams of data scientists to help make sense of your company’s datasets, nor does it require extensive engineering or IT resources just to extract your data from wherever it happens to sit. Small data can typically be accessed quickly and easily with the help of simple solutions currently on the market.

If ROI is what you’re after, Small Data is much less expensive than Big Data, so even though Big Data might be able to deliver a better return over the long haul, Small Data will help you break even on your investment much faster.

What is critical is that you have access to data that is both understandable and actionable. The right data can help you make important decisions such as what segments of users should receive which messages, what channel (mobile, email, etc.) a user is most likely to respond on, which campaign to prioritize if a person qualifies for more than one over a certain period of time, and more.

These decisions will help you deliver more targeted, more personalized and all-around more intelligent marketing campaigns to your customers, and you don’t need Big Data analytics to help you make them. All you need is an easy-to-use tool and enough data points to get you started.

Let the Small Data revolution begin!

CommandIQ March 26, 2014
Share this Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

ai in automotive industry
AI Is Changing the Automotive Industry Forever
Artificial Intelligence
SMEs Use AI-Driven Financial Software for Greater Efficiency
Artificial Intelligence
data security in big data age
6 Reasons to Boost Data Security Plan in the Age of Big Data
Big Data
data science anayst
Growing Demand for Data Science & Data Analyst Roles
Data Science

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

ai in automotive industry
Artificial Intelligence

AI Is Changing the Automotive Industry Forever

5 Min Read
Artificial Intelligence

SMEs Use AI-Driven Financial Software for Greater Efficiency

10 Min Read
data security in big data age
Big Data

6 Reasons to Boost Data Security Plan in the Age of Big Data

7 Min Read
data science anayst
Data Science

Growing Demand for Data Science & Data Analyst Roles

6 Min Read

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

data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data
AI chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Chatbots

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?