Big Data is the biggest game-changing opportunity for marketing and sales since the Internet went mainstream almost 20 years ago, particularly because of the unprecedented array of insights into customer needs and behaviors it makes possible. But many executives who agree that this is true aren’t sure how to make the most of it. Instead, they find themselves faced with overwhelming amounts of data and organizational complexity, rapidly changing customer behaviors, and increased competitive pressures.
Some companies are succeeding at turning that Big Data promise into reality. Those that use Big Data and analytics effectively show productivity rates and profitability that are 5–6 percent higher than those of their peers. The companies that succeed aren’t the ones who have the most data, but the ones who use it best.
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Chapter Overview:
Introduction
Putting big data and advanced analytics to work (Article)
Business Opportunities
Use Big Data to find new micromarkets (Article)
Value of big data and advanced analytics (Video)
Big data, better decisions (Presentation)
Marketing’s $200 billion opportunity (Video)
Smart analytics: How marketing drives short-term and long-term growth (Article)
Know your customers wherever they are (Article)
Insights and action
Five steps to squeeze more ROI from your marketing (Article)
Case: advanced analytics disproves common wisdom (Video)
Getting to “the price is right” (Article)
Gilt Groupe: Using Big Data, mobile, and social media to reinvent shopping (Interview)
Under the retail microscope: Seeing your customers for the first time (Article)
The sales science behind Big Data (Video)
Name your price: The power of Big Data and analytics (Article)
Data: The real promise of social/local/mobile (Video)
Getting beyond the buzz: Is your social media working? (Article)
Big Data & advanced analytics: Success stories from the front lines (Article)
How to get organized and get started
Get started with Big Data: Tie strategy to performance (Article)
What you need to make Big Data work: The pencil (Article)
Need for speed: Algorithmic marketing and customer data overload (Article)
Simplify Big Data – or it’ll be useless for sales (Article)
The challenges of harnessing big data to better understand customers (Video)