Para start when we refer toBig Data, we talk about aset of large volumesofdatathatfloodthebusinessdaily.(This data can be structured or unstructured).It should also be noted thatthe important thingis not the amount of information -which we already anticipate is massive-, but thecomplex relationshipthey have between them.
DIFFERENCE BETWEEN MARKETING AND ADVERTISING
Before mentioning howBig Datacan overlap with Marketing, we will explain thedifference between Marketing and Advertising.
In a graphic way it would be like arunner’sshoe, indeed an important part of Marketing, but in turn it depends on the muscles, bones, joints to have a good race… Where do we want to go? Advertising is a part of that corridor (Marketing), but there are many more, your company will not work, if you have a brilliant publicity and the other points fail.
FUNDAMENTAL ASPECTS OF MARKETING AND WHAT ROLE DOES ADVERTISING PLAY
Previously with the example of the corridor we wanted you to visualize the difference. Now let’s move on to theory.
In Marketing there are 4 “P” although lately several have been added due to the impact of the media, the Internet etc … we will stay with 4 fundamental “P”: Product, Placement, Price and Promotion (Product, Distribution, Price and Promotion) .
Well, advertising would be a great section within Promotion, which is a concept, within the concept of Marketing.
In that sense, big data would be astrategytoimplementinAdvertising, which in turn is a concept within the Marketing concept. Although it sounds like a tongue twister, it is quite easy to understand.
MARKETING OF THE XXI CENTURY
In 2013, American author Lisa Arthur coined the term ”21st Century Marketing” to comment on how theadvertisingindustry had beentransformedwith thenewand very usefuldata analysis tools.
HOW DOES OUR EXPERIENCE ON THE INTERNET CHANGE WITH BIG DATA?
Now every time wesurfor, as they say in the UK, “surf” the Internet, we as a consumer roleleave tracesof data about who we are, what we like, what are our habits, preferences, etc.
In fact, Big Data specialistsextractandmanageall thesevolumes of datatoknowthebehaviorof theircustomersor users. Thisdata collectionthen goes through adata scientistwho isresponsibleforgetting the most out of it,analyzing these. In short, it is the largest and most effective tool for advertising campaigns and complete marketing strategies.
Meditating a little on the subject, the truth is that it is incredible how we can be “studied” to a certain extent, that they know our habits even better than we do. But … What if these data were used in an inappropriate way, without scruples and passing the fine line of morals ?. We think that it is a great advance that facilitates many aspects of advertising, but it is fundamental, and I repeat this “fundamental” that itis used in a correct way.
BIG DATA AND ITS APPLICATIONS IN MARKETING
While it seems more a complex issue,Big Datais one of thetool more effective work, if not the most effective forexpertsinmarketing and advertising, since it helps us widely known to our consumers, their trends in consumption and behavior, their interests, their tastes and their habits. Although … How useful is this data once we have it?
SEGMENTATION OF OUR AUDIENCE / CONSUMERS.
Not many years ago we had to monitor each of the marketing and advertising campaigns that we carried out from start to finish. Currently we have much moreflexibilitywhen it comes tochecking the resultsand especially adjusting the campaign on the fly, adapting to the evolution of our products to the interest of our customers.
TAKE ADVANTAGE OF SALES OPPORTUNITIES.
Collecting and compiling the information through the different big data techniques, we cananalyze in detailwhatour clients choose, what they decide to try, what they stop using, and an infinity of other activities, thus taking advantage of tooffer them similarorcomplementary products
STAY UP TO DATE WITH MARKET TRENDS.
Due to the provision of consumption data we have available, it is entirely possible toknowat any timewhat they thinkthecustomersabout our products, whether both negative and positive reactions.
This allows us topromote the launch of products, thus enjoying popularity among the public, or to reinforce the campaigns of those that are not too popular or to withdraw from the market those that report very low sales.
CONCLUSION
Each business is a world and depending on being unique it has its own characteristics and needs, and on the other hand the uses of big data are spreading every day depending on the field, product, service and the reactions of the audience.
What is vital to be very clear is the type of data that we are interested in obtaining in order to achieve totally effective strategies, translating into profits for our business. Because if we don’t know the data we want to get, we can rarely establish a good strategy.
