share tweet share pin it e-mail share Spot Hot Shopping Trends Using Big Data Imagine having your store stocked with exactly the right products that your customers desire in the precise quantities that they wish to buy. You are completely unburdened by slow sellers. Your website contains all the right keywords. And drastic markdowns are a thing of yesteryear. Unless you are a master psychic or you have access to each of your customers’ personal shopping lists, achieving this degree of inventory perfection seems like an impossibility. “I see a small elf and it sits on a shelf.” While the flawless inventory remains elusive, retailers are able to much more accurately predict hot products and shopping trends thanks to Big Data. What is “Big Data?” “Big Data” refers to the huge volume of data that is collected by businesses. It is generated instantaneously, sorted by data integration tools, and converted into … [Read more...] about Spot Hot Shopping Trends Using Big Data –
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The phrase Big Data is everywhere. Not a day passes without the release of another report that describes the extent to which Big Data is influencing how we do business. But, what exactly is Big Data? What does Big Data mean in the context of digital marketing? How can we be more effective search marketers using Big Data? And, what can we do to make sure we have access to Big Data that works? I will deal with these topics in this post. Big Data Explained Big data is a phrase often used to describe the scale of data generated across multiple disciplines including, as IBM suggests, sensors used to gather climate information, digital pictures and videos, purchase transaction records, and cell phone GPS signals. It includes massive volumes of marketing data too, spanning search, social, local and mobile analytics, across every geography. Big Data means massive volumes of information. IBM reports that over 2.7 zetabytes of data exist in the digital universe today. With over 571 new websites … [Read more...] about The Importance Of Big Data, Integrity And Security
Big data is a big topic these days, one that has made its way up to the C-suite. The CMO may not yet fully understand what big data is, exactly. But the CMO knows he or she needs a plan for how to use it. In fact, three of IDC’s Top 10 predictions for CMOs in 2013 revolve around mastering this data explosion in marketing. In many ways, this attention on big data is a breakthrough moment for marketing. Sure, data has always been present in certain corners of the marketing department — especially with you astute search marketers and conversion optimization pros. But marketing management and culture have thrived more generally around gut instincts, creative concepts, and compelling communications. Marketing has been about big ideas. Big thinking. Big budgets. But big data? That’s something new. What’s qualitatively different — and somewhat ironic — is that big data actually promises more visibility into ever smaller circles of customer segments, … [Read more...] about Why Big Testing Will Be Bigger Than Big Data
What happens when you combine big data with some big math? Good things, bad things and things we have yet to truly comprehend. Big Data is the most talked about, misunderstood and nebulously defined component of online marketing. Big data can mean anything from large scale consumer behavioral analysis to a relatively simple study of baseline intent analytics. Big data has effectively replaced predictive modeling as a buzz phrase in the digital marketing universe. As is often the case, search marketers feel they are the center of said universe—and rightly so—since all the best things begin and end with understanding defined intent. As we learned last week at SMX Advanced, analyzing data can do great things for you. You can monitor changes in Penguin or other Google updates; you can isolate trends in an attempt to garner shoppers who may have not even considered buying something in your category. On the downside, analyzing big data also has the all the trappings of analysis … [Read more...] about Big Data + Big Math = Big Mess or Big Money?
With so much attention currently being focused on big data, advertisers are beginning to lose sight of one crucial truth: big data is worthless if it’s not the right data. So what is the right data? We all know that the digital advertising landscape has dramatically matured over the past decade, and businesses are now wise to invest in technology that enables marketing sophistication. But, the right data is what makes that marketing sophistication meaningful. It’s what marketers use to power more complex, strategic and smarter marketing decisions. It’s the data that matters most to your unique business strategy and situation. In other words, the right data is your data. Back In The Day It used to be that marketers were only concerned with mapping conversions and revenue back to the last ad click. Simple conversion events were credited to publisher clicks and cost so marketers could manage, report on and optimize their ad campaigns. The requirements were basic but (at … [Read more...] about Why “Big Data” Won’t Win You The Battle For Online Revenue