Engaging the Whole Brain: The Art and Science of Big Data in Marketing
- by 7wData
In the business world, business analysis is often considered to be the realm of left-brained analysts and the qualitative activities, such as marketing and advertising, the domain of right-brained creative types.
These two activities, both vital to the success of the business, can become so balkanized they hardly speak the same language. Data and analytics are typically the purview of IT and analytic “geeks”; strategy and marketing the dominion of MBAs and business majors.
But the tide of Big Data is changing the status quo. The primary creators of the Big Data captured by our high definition systems are the up-and-coming generations, living their lives out loud on social media, on chat, and on line — they have practically every day of their life recorded in digital photos, text messages, playlists and their preferences captured by internet cookies.
They speak in emoji, text-speak, and memes that are all communicated digitally and converted to data, encoded in bits and bytes. You can’t get any more calculating than that.
Digital marketing data spawned by social and digital media are bringing these two worlds of art and science together. To be successful, business managers today are learning to speak strategy as well as geek and the syntax of both languages is data.
Data used to be about numbers. Now data also includes pixels, words and beats. And while business analysis used to be about telling the bottom line, now it has to tell a story. Here’s how:
Big Data is fast becoming the lifeblood of business ventures and is giving rise to a new tide of data democracy. Big Data is crowd sourced and open sourced. The volume and variety of big data is making it difficult to maintain traditional reporting processes that deliver the data in a pre-scheduled, thoroughly defined production process.
Rather IT, BI teams and Analysts should deploy and use self-service analytics to let front line managers get at the data they need faster in order to make decisions and take action. With more data available sooner in a less processed form, businesses are implementing data governance, security, analytics and reporting standards and certification processes to act as guard rails to keep the information flowing accurately and securely.
Marketers are learning the new language of data and analytics. Targeting customers based on static demographics alone is no longer enough.
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