As a professional marketer with years of experience, I often hear how excited marketers are about big data and its ability to provide insights into the buying behavior of a consumer. Yet many in my industry still remain skeptical about the power of big data to benefit businesses. While technology has been a huge part of online marketing for several years, nothing has been more exciting to me than the potential to leverage data to make better decisions. As a result, I have spent much of my time as a consultant helping businesses maximize their potential to benefit from big data. In this article, I will discuss what do marketers use to analyze big data and its impact on business.
Big data is defined as the combining of many different kinds of data to create new insights about consumer behavior. This includes retail sales, location analysis, product reviews and more. As the Internet continues to develop and become a critical marketing tool, more organizations and businesses will harness the power of big data. However, even with the abundance of available data, it is important for marketers to understand the limitations of big data and use it wisely to improve their business.
The first limitation is that marketers must understand that analytics data is often messy. Data are often collected in different ways and presented in different formats. This means that a single report from one provider can be different than another report from another provider. Because of the variation in data sources and reporting methods, it is important for marketers to stay on top of changes and incorporate them into their business models quickly and efficiently. Otherwise, they could miss an important opportunity.
Another limitation of big data is that most businesses are still on the same network. Most Internet and mobile devices are still connected through wireless networks. Unless a company is willing to purchase and distribute data on millions of customers, connections between networks and devices will always be slow. While some may see this as advantageous, others may view it as a serious hindrance to their ability to serve their customers effectively. Network analysis and troubleshooting are still a necessary process for these organizations.
Despite the limitations noted above, big data analytics has provided significant benefits to businesses. With the widespread use of analytics software, marketers have been better prepared to manage customer interactions and business relationships. These tools have also given businesses an opportunity to explore new markets, gather intelligence on competitors and understand more about their target markets. Marketers can utilize data to optimize advertising campaigns, generate quality traffic and increase profits.
As this technology becomes more prevalent throughout businesses, the need for solid data analysts will become more in demand. Candidates expected to work in this position should have a background and track record of expertise in big data visualization. Those who have worked in finance or marketing may be able to capitalize on their background to jump right in and start a profitable business. However, those without prior experience in this field may want to consider spending some time in a technical or graduate school program to acquire the skills and knowledge needed to succeed in this field.
A strong mathematical background is not essential for a job in marketing or analytics. Data visualization skills are enough to meet the demands of a wide variety of clients and employers. Those with a bachelor’s degree in business may choose to pursue a job in finance, accounting or marketing to gain an understanding of the inner workings of these industries. Those with master’s degrees in the same fields but who prefer to focus on data analysis may choose to work for marketing agencies, government agencies or private firms.
There are numerous online universities and colleges that offer online courses in what do marketers use to analyze big data. If you feel that you lack the skills and knowledge required to meet your current marketing goals, a traditional school may be the perfect option for you to pursue. Marketing graduates can find employment almost anywhere in today’s society, and positions related to data analysis will always be in high demand. If you are seeking new ways to increase your current earning power, a career in the marketing field may be the ideal choice.