Value in Big Data for Marketing

               Big Data plays a significant role in the field of Marketing. Big Data helps to analyze the customer trends which is of great use in marketing. Also it helps in Fraud detection and compliance for a company which is very important for marketing. In addition to that Big Data also helps in the process of introducing new product which again is significantly related to marketing. Another very important scope of Big Data in Marketing is in the field of customer satisfaction.

               The above mentioned areas are in which Big Data had proved itself valuable in the field of Marketing. Apart from these areas, there are other areas as well in which Big Data has started to prove its significance when looked from the angle of Marketing. The decisions related to pricing is an area in which Big Data is strongly proving its necessity. With the use of Big Data for price related problems, many decisions or problems can be handled effectively.

               Another significant role of Big Data in the field of Marketing is in the Customer Relationship Management area. Big Data helps to analyse the contents which helps to improve the Customer Relationship Management. Some of the other important ways by which Big Data plays a significant role in the field of marketing is as follows:

• Various products or product lines have different pricing strategies. Often companies find it difficult to adopt the perfect pricing strategy for a given product or product line. However, with the help of Big Data companies are able to identify and implement the perfect pricing policy for a given product or product line.

• Customer feedback or customer response is the backbone of Marketing. In the recent days, one of the most commonly used techniques by Marketers is by the analysis of Big Data. Big Data helps marketers to understand customer behavior and also collect the feedback of customers which can be used to effective marketing. 

• With the help of Big Data, marketers are able to make more successful relationships with the customers. Successful relationship with the customers is a very important part of any business. If the marketers are able to establish a successful relationship with the customers, then they consider that their job is half done.

• With the help of Big Data, companies are heavily using the technology of Geoanalytics. Geoanalytics is the process by which marketers can track and analyse the customers or data in their preferred area of interest. With Geoanalytics companies will be able to target the right area of operation.

• Big Data plays an important role when it comes to making long term strategies. Most of the top level officials in an organisation believe that the most common techniques to implement long term strategies is by making use of Mobile Marketing, e-mail marketing and Search Engine Optimization Marketing.

Reference

Ten Ways Big Data Is Revolutionizing Marketing And Sales

https://www.forbes.com/sites/louiscolumbus/2016/05/09/ten-ways-big-data-is-revolutionizing-marketing-and-sales/#5b0fe93221cf