How Big Data Analytics Is Solving Big Advertiser Problems

How Big Data Analytics Is Solving Big Advertiser Problems

June 23 2020
Website :
https://www.entrepreneur.com/article/293678

Student Name : Joyce Chang 張可薔

Student ID : D0740800

    The marketing and advertising technology sector is now embracing big data. The problem is that most of the companies and brands still lack or are not equipped with the expertise necessary to analyze huge amounts of data and make it actionable. 
    As a result, new companies that specialize in big data analytics have started to fill this void. For instance, SQream Technologies made a name for itself with rapid, petabyte-scale (that’s a million gigabytes to you and me) big data analytics. For the marketing and advertising sector, this has meant more sophisticated analysis of things such as online activity, point-of-sale transactions and on-the-fly detection of dynamic changes in trends. 
    Gaining insights into customer behavioral patterns plays a crucial role in creating focused and targeted campaigns. Big data can help make sense of the information gathered, such as retention cost, average transaction value and even customer satisfaction. 
    Big data can be used to help create targeted and personalized campaigns that ultimately save money and increase efficiency by targeting the right people with the right product.
  
These are the types of insights that can be gained from big data.
  • Predictive analytics-This technology allows brands to define the type of consumers being targeted
  • Big data equals big ideas-Advertisers can use these collaborations and partnerships to create original campaigns, and at a faster pace.
  • Innovation in big data-Netflix is able to use the amount of time spent on a single show, preferences for particular actors to accurately calculate how much a user is worth.
  • Looking ahead-The emergence of new technologies will also permit companies the leisure of using data in a smarter, safer way.








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