Back in 2012, author Geoffrey Moore tweeted that ‘without big data analytics, companies are blind and deaf, wandering out onto the Web like deer on a freeway.’
At the time, many prominent marketers believed this was a bit of an overstatement. However, fast forward a decade and big data and advanced analytics are now undoubtedly essential in the world of marketing. After all, whether you’re trying to boost customer engagement, improve loyalty rates, optimise performance, or improve decision making, you need access to data.
To help you understand exactly how big data and advanced analytics can improve your marketing activities, in this post we’ll take a look at exactly what big data is, how it works, and the benefits it provides. We’ll also explain exactly how our software can help take your data analysis to the next level.
First coined in the mid-1990s, the term ‘big data’ was initially used to refer to the increasing amount of data that the average business was generating. But, fast forward to the 2000s, and the term became much more nuanced. Since, it has been described using the ‘3Vs of big data’. These are.