I would like to present an article written by Steve McKee on September the 14th at Bloomberg Businessweek. This article is called “Big Data can make a big difference in Marketing.”
There are two reasons for choosing this article;
First -- it reveals the current status of an important and popular marketing tool
Second – it is highly related to our major and what we want to learn in this master program.
First of all, I would like to ask if how many of you have heard the word “quintillion”?
I also haven’t heard it before but it a 1 followed by 18 zeros.
Here is the interesting fact about it; IBM estimates that each day the world creates 2,5 quintillion bytes of new ...view middle of the document...
With the same purpose, his consulting firm did an analysis using the data available to them and they could improve the effectiveness of the company’s media investment by as much as 9 percent over the coming year.
Lastly, he points out two important outcomes; data can be used also to increase the customer satisfaction and help companies to anticipate the future.
According to the examples he has given in his article, using software in call center conversations helped a client to find out the fact that it was misleading some customers with its advertising. Similarly, another client using another software called ‘speech analytics’ identifies some at-risk customers and he saved 600 accounts.
Data is also used for making estimations. Police departments are using historic data to predict where and when crimes may happen. Similarly, when a new product will be launched, customers online behavioral data is used to project how new product will perform. Interacting with the customers is now the brand’s ability through social media.
At the end of the article, he...