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How to Efficiently Extract Key Marketing Insights
from Big Data
It seems the big data boom is happening everywhere—from the technology sector to the financial vertical to the marketing
world.
Today’s marketer is tasked with originating customer-satisfaction initiatives and is so inundated with big data—thanks to the
ability to partake in competitive research and business analysis like never before—that often they are left trying to muddle
through all the facts and figures. Specifically, according to Teradata's 2013 Data Driven Marketing Survey, which compiled
responses from over 2,200 marketers across the world, 40% of marketers grade their department with a C or lower when it
comes to using data to drive marketing efforts. The survey also found that:

71% of marketers plan to implement a big data analytics solution in the next two years

Less than 10% of companies use the data they have in a systematic way
And, perhaps most importantly, an overwhelming 75% of respondents revealed that they experience difficulty with calculating
the ROI on their data-driven market spend.
So, as a marketer, how do you filter through the big data boom? By understanding exactly what you are searching for.
Most importantly, as you start aggregating pertinent business information about your marketing efforts, determine what you
want to extract from this data. For example, if your data is telling you something that you already know, then it's not valuable.
Instead, focus on finding out what you don’t know and searching for solutions to problems your company addresses.
Perhaps that means understanding the unique needs of all your key stakeholders. For instance, if you have a firm grasp on the
behaviors and spending habits of customers on an individual and group basis, use this powerful business information to
predict—and even influence—the consumer lifecycle. This research can be used to create customer-incentive programs, to
launch loyalty programs, to spearhead new marketing efforts, and to introduce new company offerings.
Moreover, you can extract data about the success of your marketing efforts, from social media to print advertising to email
marketing, to measure audience engagement and excitement and to predict future customer behavior.
Simply put, by sifting through big data and extracting the critical information, you can make better decisions more quickly.
"The role of the marketing department is changing dramatically because of analytics," explains IBM Analytics Academic
Programs Manager Richard Rodts. "They're not just looking at the consumer; it's how the consumer feels about the brand, and
how individuals feel about the brand, and how we recognize and interact with individuals specifically as a marketing
department."
With only 10% of your competitors understanding how to use real-time data and business information effectively, according to
market research by IBM, you're uniquely positioned to make solid ground on your competitors. Keep in mind that 90% of big
data becomes missed opportunities, so your goal as a marketer is to review data and analytics, share your insights with
colleagues and identify the actions that can be taken to make your company’s offerings even more robust.
Thanks to the advent of modern technology and the “Age of the Consumer,” marketers are always seconds away from learning
pertinent information about their target market. Consumers are empowered thanks to the rise of cross-channel marketing and
engagement marketing; your job as a marketer is to listen to what they are telling you, avoid becoming blinded by the big data
numbers, and keep your eyes on those relevant stats and figures that will drive profitability and return on marketing investment
dollars.
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