The era of “Big Data” is clearly upon us. The term that refers to information sets so large and complex that they become difficult to process has generated a number of challenges to businesses, but has also generated significant opportunities.
Data in all forms is now recorded, stored and analysed, allowing companies to leverage business information, to adapt their products or services to better meet customer needs, optimise operations and identify new sources of revenue.
Real Time Data
Data is automatically accumulated and stored giving marketers access to up-to-the-minute information instantly from a number of different platforms. Changes and patterns are observed in real time meaning information is always relevant and analytics can be put to use straight away giving the marketer the ability to make effective decisions, faster.
As analytics define what is working and what isn’t, budgets can become more precise, with funds allocated to marketing activity that has genuine impact on a business which, over time, results in less wastage and greater time and cost efficiencies.
Targeted marketing can now hone in on individual cold, warm and hot leads distributing information that is only relevant to them, as evident from statistics and analytics collected. Bespoke advertising works across mutliple online and offline platforms including: digital marketing, telemarketing, and even face to face.
Ability To Anticipate The Future
Online behavioural information can be used to predict how future projects will perform, using data from previous campaigns or promotions. When it comes to project planning campaigns become more precise, increasingly robust and have a greater effect on the audience.
Data and metrics from sources such as marketing campaigns and social media give an insight into who your potential consumers or clients are. Varied data such as where, when and how you can find and target individuals becomes extremely useful in getting the best possible outcome.
Reacting to client demand quick enough? Wolf Group’s flexible resource could help relieve the pressure on your high-end technical staff.