One of the biggest challenges facing advertisers nowadays is remaining relevant in the wake of massive technological changes that are occurring in the marketing industry. Big data analytics and the use algorithms have changed the way advertising professionals push their campaigns to potential buyers. As of now, advertising is a world of software featuring ultra-high speed networks, operations search, statistics, data science and a host of other disciplines that have been put together to redefine the advertising business model.
Big Data and Advertising
Figures in the public domain indicate that close to 40 percent of the global population has access to the internet, which has provided advertisers with a large market for their goods and services. Besides providing a huge market for advertisers, the internet has also been a huge source of data. The explosive uptake of smartphones has made marketing easier for businesses.
Giant companies have collected huge pools of data, which is benefiting businesses in many ways. The huge pools of data are what many people are referring to as Big data. Simply put, Big data refers to data that is too large or complex to be handled effectively by the typical database technologies that are available in most of the companies. These giant platforms are playing a crucial role in revolutionizing advertisements since the data that they collect can be analyzed and important information obtained.
A few decades ago, advertising involved placing ads on radio, TV, and print media only. But, nowadays, advertisers have more options, which include internet advertising, mobile, and video, which are among the fastest growing advertising platforms today. Through these advertisement platforms, advertisers are experiencing more success with their marketing campaigns than before.
Collecting Customer Data
We give a lot of geospatial, behavioral, demographic and other metadata to most of the giant technology platforms. These organizations collect tons of data every time we visit the internet, watch videos, tweets, comments on these platforms and from our search history. The data collected by these platforms speaks volumes on our current needs, interests, or even responses on the items that we recently purchased. A lot of businesses are always looking for this data to increase customer acquisition and retention. They can easily achieve this by targeting an audience with their promotional content for their services and products.
High Demand for Customer Data
After learning of the benefits of Big data, many businesses are looking for the services of data analytics such as https://www.paxata.com/product/self-service-data-prep/ to help them with their quest of delivering tailored advertisements to their customers. The services offered by these companies are benefiting many small businesses that cannot extract and manage such data.
Big data aims at providing the right content to the right people. Thus, this ensures that the money set aside for advertisement doesn’t go into waste. It is now evident that data-driven advertising is the best advertising strategy for both big and small businesses that want to reap the maximum benefits of the internet revolution.