Big Data Risk and Rewards Essay
As a marketer we have to satisfy the customers by bridging the gap between the available products and services and their current needs. From …show more content…
“Big Data is high-volume, high-velocity, and/or high-variety information assets that require new forms of processing to enable enhanced decision making, insight discovery and process optimization”
Today’s data crunching world offers every business the opportunity to translate Big Data into big sales.Big Data Risk and Rewards Essay The term “big data” doesn’t just refer to the data itself but it also refers to the different competencies, challenges and capabilities associated with storing, managing and analyzing such huge data sets. Big data allows and enables marketing professionals have closer look at the customer and consumer.
We can thus enlist how big data will impact the future of sales and marketing: 1. Improved Business Models, Products and Services: Manufacturers now use data captured when consumers use their products to improve upon their existing offerings, thereby creating new and improved models that benefit the consumer and push them to buy. 2. Customer engagement: It can help the marketers not only in knowing who your customers are ,but also where theses customers are , what they want , how they want to be connected and when .Big Data Risk and Rewards Essay
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