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Showing posts with the label Data

Marketing and Artificial Intelligence: The future is now

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        AI has been a big disruptor in the Marketing industry for the last couple of years, starting from chat bots to big data softwares and algorithms Artificial Intelligence has played a big role in marketing how we know it today. In today's world every time we don't use an AI powered solution for our business we are losing to our competitors. One of the biggest benefits of Artificial Intelligence is that it allows marketers to create data-driven marketing i.e, highly personalised customer experiences that will cost way less than the traditional marketing approaches. With AI interaction with the customers does not finish at this one buying a product but every interaction a customer has with a product or service will be used for analysing and optimisation for future interactions. AI & ALGORITHMS With all the solutions offered now a days by AI marketers can know exactly how their customers are feeling and what they are thinking in real time or clos...

The Value of Big Data in Marketing: How data is revolutionising the market

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    Currently, businesses store hundreds of information files in hopes of using them one day; It is very important for marketers to find information that supports their ability to make decisions, which is why the impact of big data has been growing in this industry; Marketers have invested time and effort trying to understand the large amount of information that is processed today, to be used not only as a backup of their decisions but also to form these decisions completely, decisions like, what product to recommend, what market to attack and what solutions to use for a certain market. Marketers have chosen to use information from social and mobile applications, which have proven to have a great influence on how customers behave and make their purchase decisions; although big loads of information are still not being processed, a smaller amount of data correctly tailored for a specific marketing issue can add great value to the industry. (Amado et al., 2018) The follo...

Big Data Explained: The 3V's

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As we know now, Big Data is all that data that is beyond the processing capabilities of traditional methods; It is data that is too big, too complex or moves too fast to be processed by a a traditional database and has to be analysed by an alternative method. There are 3 defining properties or concepts of Big Data, that help to break down what "big data" means and to identify its variation from traditional data.  (Dumbill, 2012) VOLUME: This one is probably the most obvious and truthful to its name, volume is referred to the amount of data that is collected and or processed; the volume of data that is not only already existing but also the amount of data that has been growing at a rapid rate and its received, in some occasions, close to real time or in real time. The true benefit of this comes from being able to process a big amount of data in order to predict demand or problems in a more accurate and faster way.  Many companies already count with big amounts of data...

The Revolution of the Big Data

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Facing business competitiveness and rapid technological advancement, organizations can use business intelligence tools to convert the large amount of data collected into strategy and successful plans. The term "Big Data"  refers to all that data that is too big, fast or complex to be processed through traditional methods and therefore utilises specific and sophisticated softwares that have helped optimise this information. Even though the act of processing and store data has been around for a long time, the term "big data" became a big hit in the 2000s when Doug Laney introduced the definition of this, as the "3 V's"  (Sas.com, n.d.) Volume: Organisations collect data from different sources from competitors to client transactions and social media, with the technological advances the collection and storage of this data has been facilitated. Velocity: With the IoT and businesses growing at a rapid rate the optimisation a...