Big Data. It’s the marketing term of the moment, or so it seems, but is it a passing trend or a vital use of technology that’s here to stay? These are questions small businesses are asking as technology companies advertise services to help mine and analyze Big Data.
First, an explanation of what Big Data is. Each day, 2.5 quintillion bytes of data are created, according to IBM. Combing that data for marketing research purposes is often more than a small business can handle, even if that data resides on its own servers.
SMBs are currently turning to tools like Google Analytics, Alexa, and tools built into social media sites to provide the reporting they need. But mining Big Data is only a small part of the process. Businesses must also be able to analyze and utilize that data for it to be effective. For small businesses without intensive I.T. staff, this can be a challenge.
In response to this need, marketing companies are turning attention to insights, providing services to businesses that can help them break down volumes of data into reports that make sense. InsightsOne recently released a portal that grants small businesses 24/7 access to their data.
“With the launch of our new Marketing Workspace, we put the marketers in control of powerful predictive analysis technology,” said Waqar Hasan, founder and CEO of InsightsOne. “We are handing over the power of prediction to those who can use it most, and we are delivering it to them in a format that they can both understand and take advantage of. With InsightsOne, the marketer has the power to ultimately improve their top line and their consumers’ experience.”
InsightsOne’s Marketing Workspace gives small businesses access to the following features:
- The ability to analyze and predict customer behaviors, using that information to optimize campaigns.
- Review Big Data analytics through enhanced unstructured analytic capabilities.
- Integration with some of the most popular SMS and e-mail service providers.
- Web instrumentation to enable real-time data and offer feeds.
InsightsOne also allows small businesses the ability to automate predictive analytics into multi-channel campaigns, as well as optimize those predictive analytics. Key performance indicators like revenue, profit, and click-through rates can be used to alter future campaigns for maximum impact.
As InsightsOne points out, 87 percent of Americans are fed up with bad ads and 43 percent of Americans say they will ignore a company completely after seeing only two bad advertisements. Each ad needs to be optimized to reach those customers in a careful, directed manner.
Whether small businesses market through social media, online ads, or traditional methods such as TV and radio, a seemingly unlimited supply of data is available. Big business is using that data to work for them and, in order to compete, small businesses must find a way to access and use that same data. Thankfully, big business is learning that by providing Big Data services to small businesses, they can make money while helping smaller businesses succeed in reaching their long-term goals.