The buzz word “big data” has been around for some time now and now we all understand the term a bit better – in case you didn’t it’s the term for expanding your existing database to capture more information for better analysis and insight using a range of multimedia platforms such as social media, email marketing, telesales and direct mail marketing.
But how do we move forward with this and actually start making it work for us?
Just as the phrase sounds, Big Data can be too much for some businesses to manage. It takes a reasonable amount of time and complex database management systems to make processing big data feasible. So once you have collected the information you want to analyse, which is an on-going process, any business will need the capacity and resource to store data securely - keeping in line with current data regulations. Ensuring you have a secure database management system in place prior to collecting large volumes of data will be an essential tool so research carefully!
Once the data has been collected and is being stored and handled safely and securely, you need to know what you are looking for within your data to optimise your marketing list to ensure value is being added at all stages.
Using your marketing list as a key basis to underpin new waves of growth and competition within your industry could be the push you need to outdo your competitors. Whether you are new to the market or well established, data-driven strategies will be used to innovate and compete against each other to ensure the most amount of value will be captured from real-time data collection.
Understanding your data:
To ensure you get the most benefit out of your marketing list or “Big Data” knowing your target audience is essential to utilise your valuable asset. Having the ground work in place from the beginning is key as when adding to an existing database as the foundation is required to unlock significant value, allowing information to be as transparent as possible making it useable across all departments. When collecting a deeper insight into customer data, businesses are able to compare more accurate and detailed pieces of information to improve performance and expose variability for any possible cross selling opportunities.
MarketingFile are able to provide you with marketing lists for all industries to start building your database, from here with the use of multi-media platforms you will be able to grow your database for continuous improvement and insight making you a competition leader.