5 Big Data Principles to Guide Your Marketing
It’s reported that by 2015, companies will spend close to $17 million on Big Data technologies. Apart from the fact that the number is stunning on its own, what it means for us is that Big Data has made its presence in the online world, and affiliates need to understand the basic principles behind it as well.
1. Companies Utilizing Big Data Will Outperform The Others
There’s an interesting study by Gartner, telling us that companies investing in Big Data outperform those that don’t by 20 percent in every major metric. No matter what the scale of your business is, a 20 percent increase will always be noticeable.
With various Big Data applications, you can, for instance, predict which of your leads are likely to buy from you in the near future based on their common traits.
2. Big Data Can Drive Your Sales Growth
Big Data can help you in almost all aspects of your current business. The key is being able to incorporate Big Data applications into various processes you’re currently using.
You can use Big Data to segment your leads into separate lists based on their activity, and then process them to find similarities against other lists. You can identify those similarities and then take action on them.
3. Big Data is Connected Data
Big Data allows you to make connections between events and customer actions. You can use it to piece together many individual data points and identify various patterns.
You can then take all this and use it to predict the type of campaign that is the most likely to work well with your desired target audience.
4. Actionable Insights Bring Better Results
The challenging thing about Big Data is that looking into it only makes sense if you’re ready to take some sort of action on what you see.
Therefore, the key here is to tightly tie your Big Data efforts with precise plans of action on the insights you get. Analyzing itself is not, and never will be, the true power of Big Data.
5. Big Data Is About the Outcome
Big Data is mainly about the science that stands behind analyzing big packages of data, finding correlations and patterns in it, and then translating all this into usable insights and clear guidelines.
For example, by using a well thought through process, you can identify the top X leads that are likely to buy the most expensive thing you’re promoting.
In the end, if you’re looking to take your already profitable affiliate business to the next level, this might just be the way.