What Makes Big Data Key to Modern Business Success?

Did you know? The Apollo Guidance Computer used only 80 kilobytes of memory when taking the first spaceship to the moon. Unbelievable, right? According to Statista, just in 2020, around 64.2 zettabytes of digital data was created, and the following five years has seen twice the amount of data ever created since the advent of digital storage. 

What is Big Data? 

Big data refers to the massive volumes of structured and unstructured data generated from various sources, including social media, websites, and mobile apps. Unlike traditional data, big data is characterized by its volume, velocity, and variety. This information can be harnessed to gain deeper insights into customer preferences, market trends, and competitive dynamics. 

So, how can businesses leverage Big Data for a flawless branding strategy?  

Here are a several ways brands can do effective advertising campaigns.  

Highly Personalised Experiences 

By analysing customer data, businesses can segment their audience based on demographics, behaviour, and preferences. This allows for the development of targeted marketing campaigns that resonate with individual consumers.  

Enhanced Customer Insights 

Through the analysis of data points such as social media interactions, website visits, and purchase history, marketers can gain valuable insights into customer behaviour and preferences. This information enables businesses to tailor their messaging and offers to better meet the needs of their audience.  

Optimising Marketing Campaigns 

By monitoring key performance indicators (KPIs) such as click-through rates, conversion rates, and customer engagement, marketers can assess the effectiveness of their campaigns and make necessary adjustments. This agility helps in optimizing ad spend and maximizing ROI. 

Predictive Analytics 

Predictive analytics, powered by big data, enables marketers to anticipate future trends and consumer behaviour. By analysing historical data and identifying patterns, businesses can make informed predictions about market trends and customer needs. 

Continue reading to know about a few examples of successful data-driven brands. 

Data-Driven Brands 

Multiple high-end brands are now utilizing data to drive marketing campaigns, enhance user experience and build a loyal customer base. For instance, following brands have successfully leveraged big data for productive branding. 

Nike’s Consumer-focused Design 

Nike leverages data analytics to guide its product design process. By examining data from its NikePlus app and online sales, Nike acquires valuable insights into consumer preferences and performance requirements. 

IKEA’s VR Showrooms 

IKEA uses VR and big data to improve customer experience. Customers can visualize furniture in their homes via IKEA’s VR app, and the data gathered informs IKEA about preferences and trends, shaping future product designs and stock levels. 

Sephora’s Colour IQ for Personalised Recommendations 

Sephora’s Colour IQ scans customers’ skin to recommend the perfect foundation shade from a vast inventory. Coupled with purchase history data, this technology personalizes marketing and product recommendations, boosting customer loyalty and sales. Loyalty program members spend 15x more than non-members. 

Créo- Your Ultimate Big Data Strategist 

Choose Creo to transform your data into actionable insights and elevate your digital marketing strategy. Our expertise in data-driven solutions helps you understand your audience better, optimize your campaigns, and achieve measurable results. Partner with us to unlock your business’s full potential and stay ahead of the competition.