With the explosion of data volumes in recent years, official estimates suggest that data monetization will soon become a major source of revenue. A large part of business intelligence is directed at marketing, so we will describe the main impacts in this field. Join the Big Data training in Bangalore to get profound knowledge in the web development tools.
1. Planning Statistical scientists provide excellent analysis of the latest trends in customer behavior to marketing departments, allowing professionals to devise comprehensive strategies and prepare for more efficient activities. That's why almost 65% of sales executives claim that data-driven marketing is crucial to success in a hyper-competitive global economy. They can now target not only large consumer groups but also segmented subgroups with their own specific characteristics, giving the possibility to modify activities and adapt to each audience individually. 2. Personalization User experience is one of the basic requirements of a successful business. In the age of high data volumes, operations can be customized and customer journeys improve almost to the point where each customer receives products or services based on personal preference. For example, only Facebook stores and analyzes dozens of petabytes of user-generated data. Such an immense amount of data allows companies, in addition to determining basic demographic traits as well as the business trends of their target groups, to also delve into and learn about the affinities of individual users. 3. Prices As a fundamental element of marketing, prices were always subject to careful analysis and monitoring. But since big data entered the field, professionals can adjust the prices of their products and services in real time. Today, it is possible to make price differentiations that depend on numerous factors. For example, theaters offer regular tickets for average shoppers, but they also grant certain incentives (coupons, weekend promotions, etc.) to those who are price sensitive. 4. Customer loyalty Loyal consumers are at the core of every business; they are regular buyers who also serve as brand ambassadors. Recent surveys showed that 55% of US consumers. The USA shows their loyalty by recommending the brands and companies that friends and family like. By using Big Data, companies can detect common purchasing patterns, adapt their services, and eventually expand their loyal consumer base. 5. Advertising profitability As you can see, big data at this point not only has the power to refine the overall marketing strategy, but also contributes to the development of the plan around individual segments. Advertising is one of the elements for which you make much more profit, due to the unbeatable contributions of business intelligence services. The ads are then personalized and targeted to specific groups of consumers, making them more attractive and dramatically increasing the chances of participation. This is the reason why advertising, especially online, has been in constant growth since recent years. 6. ROI measurement Surprising as it may seem, many marketers don't really know how to measure ROI. According to some surveys, half of B2B marketing executives find it difficult to relate marketing activity directly to earnings results as a means of justifying budgets. Big Data eliminates this problem: it considers all marketing channels, activities and investments and performs a cost-benefit analysis of each element. Thus, it is almost impossible to misinterpret marketing activities and the corresponding budget. 7. Forecasting Statistics is capable of analyzing current marketing strategies, but also has the ability to successfully predict future trends. That's why marketers use it to create business forecasts, making it easy for them to behave proactively and stay ahead of competitors. In an environment of constant struggle for greater market share, this Big Data feature becomes essential for many companies. One who is crazy about this crazy technology must start to learn it from data science course in Bangalore because big data certification course in Bangalore is the best choice for people who are eager to learn it from the scratch to Advanced level.
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