Big data. It’s an intimidating term.
“Big” implies a large investment. The word “big” also suggests big data is only reserved for deep-pocketed Fortune 500 companies.
“Data” may even be the more frightening half of the term “big data,” because “data” is a word that conjures images of unwieldy, hard-to-use technology that requires the hiring of mathematicians.
But big data needn’t be intimidating. It’s simply a natural outcome of Moore’s Law, which has accurately predicted that micro-processing speeds and data storage capabilities would expand and grow less expensive at steady rates for decades. The result is that big data, which we’re defining as the capability to analyze large sets of unstructured data and gain critical insights from them, is available for virtually every size of company. One of the key impacts is that most marketers are already using a form of big data in their day-to-day programs.
You’re probably already using data in your own marketing. Do you use analytics tools to delve into your website traffic? You’re engaging in datadriven marketing that wasn’t available before big data technologies existed.
Are you buying online display advertising via real-time bidding? Are you using marketing automation to nurture your prospects? Both of those, too, are tactics that incorporate data-driven marketing.
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