How Big Data Analytics Is Solving Big Advertiser Problems

How Big Data Analytics Is Solving Big Advertiser Problems

How Big Data Analytics Is Solving Big Advertiser Problems

After several years of cautious enthusiasm, the marketing and Advertising technology sector is now embracing Big Data in a big way. That’s the good news. The obstacle is that most companies and brands still lack the expertise necessary to analyze huge amounts of data and make it actionable. According to a 2015 survey , most companies seek a specialized skillset that is normally not found in most a typical ad agency. In plain English, these companies are collecting data they don’t yet know how to use. That’s the bad news.

Not surprisingly, new companies that specialize in Big Data analytics have started to fill this void. For instance, SQream Technologies made a name for itself with rapid, petabyte-scale (that’s a million gigabytes to you and me) big data analytics. For the marketing and Advertising sector, this has meant more sophisticated analysis of things such as online activity, point-of-sale transactions and on-the-fly detection of dynamic changes in trends. But why is this so crucial?

Read Also:
The email, data and privacy implications of Microsoft’s acquisition of LinkedIn

Gaining insights into customer behavioral patterns plays a crucial role in creating focused and targeted campaigns. Big data can help make sense of the information gathered, such as retention cost, average transaction value and even customer satisfaction. After all, consumers who spend the most money are not necessarily the most valuable. There’s some evidence that the big spenders may be “the most expensive to keep and are the least loyal over the long term.”

What role does big data play in advertising?
Big data can be used to help create targeted and personalized campaigns that ultimately save money and increase efficiency by targeting the right people with the right product. How exactly? By gathering information and learning user behavior.

A consumer’s digital footprint today is increasingly valuable in this personalized era of marketing and advertising. There is such a vast amount of information from every interaction one has, whether Googling or Facebook liking the new Samsung smartphone, both online actions will lead a consumer’s social media and digital world to be flooded with ads about this phone.

Read Also:
The opportunities Silicon Valley doesn’t see

How can big data be used for advertising?
With this information, companies can target users in existing online communities, and then use the data to better understand and identify patterns in user behavior. Advertising agencies are able to gather information about consumers’ motivations: Are customers motivated by the latest tech trends? Is there a subgroup within your client base that are more reserved when it comes to spending?

These are the types of insights that can be gained from big data.
The secret lies in measuring impressions and learning user behavior. We already know that almost a quarter of video ads are viewed by bots and not humans. This means that for the biggest advertising companies in the world, a significant proportion of impressions aren’t being shown to human beings.



Data Science Congress 2017

5
Jun
2017
Data Science Congress 2017

20% off with code 7wdata_DSC2017

Read Also:
Why quality data is critical for small business
Read Also:
How Predictive Analytics is Reshaping Enterprise Reporting

AI Paris

6
Jun
2017
AI Paris

20% off with code AIP17-7WDATA-20

Read Also:
Tableau scores advanced database tech with acquisition of German startup HyPer

Chief Data Officer Summit San Francisco

7
Jun
2017
Chief Data Officer Summit San Francisco

$200 off with code DATA200

Read Also:
Why this golden era of innovation isn’t helping the economy

Customer Analytics Innovation Summit Chicago

7
Jun
2017
Customer Analytics Innovation Summit Chicago

$200 off with code DATA200

Read Also:
How Open Data for Science Will Transform How We Develop Revolutionary New Products, Services and Miracle Cures

Big Data and Analytics Marketing Summit London

12
Jun
2017
Big Data and Analytics Marketing Summit London

$200 off with code DATA200

Read Also:
Robots won’t just take jobs, they’ll create them

Leave a Reply

Your email address will not be published. Required fields are marked *