Big Data, Marketers will Team Up in 2014
Although numerous departments across the enterprise have the opportunity to invest in and benefit from Big Data initiatives, marketing ranks among those that will experience the most benefits. Outward-facing groups like marketing and sales can use Big Data to gather information on prospective and existing customers, analyze that data, and develop more effective programs to capture those sales.
Marketing departments are especially interested in Big Data. In fact, a recent Infogroup Targeting Solutions (ITS) survey of nearly 400 marketing professionals found that roughly 90 percent of respondents have plans to invest in Big Data in 2014, with 54 percent already following through with the endeavors.
Meanwhile, Big Data appears to be having a positive impact on organizations in general: 85 percent of respondents who had already implemented Big Data programs said they are witnessing returns, ITS reported. These findings indicate that the marketing landscape is at a turning point, said Dave McRae, president of ITS. Businesses must now embrace real-time capabilities if they want to maximize the customer experience.
Tomorrow's marketing environment
ITS revealed that 72 percent of executives who plan on investing in Big Data technologies next year also intend to increase spending on real-time technologies through 2014, which will give their teams unique insight into the consumer landscape and a competitive advantage over firms that aren't using these advanced services.
"While technology adoption isn't always an indicator of marketing sophistication, the survey shows that marketers are still behind when it comes to understanding how to get the most out of Big Data," said McRae. "In 2014, the successful marketer will be decisive and intuitive. Savvy marketers will invest in the tools and adopt strategies that have the greatest potential of delivering return."
A Forbes report highlighted how marketers need to remain on the cutting edge if they want to stay competitive in the coming years. Doing so will mean investing in cloud computing, Big Data, and other advanced technical strategies that are quickly becoming the norm throughout the business world. By properly following through with these initiatives, marketing executives and teams will be able to optimize how they approach the customer landscape and maximize return.
Although Big Data is often viewed as merely a buzzword in the IT landscape, tomorrow's companies need to recognize the potential that properly launched Big Data initiatives hold. Rather than waiting until the projects become mandatory, decision-makers should begin planning the endeavors now if they haven't done so already.
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