Marketing and Big Data

Personally, when I think of Marketing Analytics, the relationship between marketing and big data comes to mind. A definition for marketing is provided on the marketing analytics overview page under “The MAC”. However, I want to focus on the big data piece here. A consistent sentiment across research is something along the lines of – Yes big data is great! But if no one knows how to manage and interpret it to draw insights, then whats the value?! – Since they say a picture is worth a thousand words, I’ve included a slightly humorous cartoon to illustrate my point below ūüôā

via eQuest

 

According to SAS (Statistical Analysis System) Institute Inc., “Big data is a popular term used to describe the exponential growth and availability of data, both structured and unstructured”. SAS Institute Inc. further explains the 5 key characteristics used to describe big data¬†which are:¬†

  1. Volume – Factors influencing the amount of data available
  2. Velocity – Speed at which data becomes available
  3. Variety – Types of data (i.e. structured vs. unstructured)
  4. Variability РRole of trends on flow of data
  5. Complexity – Translating and correlating data coming in from multiple sources

Below I have provided an awesome infographic I came across on DemandMetric.com illustrating the important yet complex relationship between marketing and big data, which ultimately plays a role in Marketing Analytics. I hope you enjoy!

 

 

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About Miss AJ

Marketing Analyst at Verizon Communications Inc. | Director of Professional Development for VZ's Women's Resource Group (NYC Area Chapter) | Volunteer at local church in Dance Ministry | Brother of Delta Sigma Pi Professional Business Fraternity | Lover of Classic Old School RnB Music | Aspiring Zumba Instructor

Posted on Saturday | January 24th 2015 |, in Marketing Analytics and tagged , , . Bookmark the permalink. Leave a comment.

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