Big Data Essay example
How Big Data will Impact Sales and Marketing?
“Customer is King” is the fundamental apostle of marketing and sales function in any given business organization. Marketing & sales are always based on some basic principles: understanding customers, designing products and services according to the customer needs, delivering the quality product and building trust. From the very early stages the basic concept of marketing remained the same i.e. all activities should be customer centric and result oriented.
As a marketer we have to satisfy the customers by bridging the gap between the available products and services and their current needs. From …show more content…
In the words of Gartner, big data can be defined as -
“Big Data is high-volume, high-velocity, and/or high-variety information assets that require new forms of processing to enable enhanced decision making, insight discovery and process optimization”
Today’s data crunching world offers every business the opportunity to translate Big Data into big sales. The term "big data" doesn’t just refer to the data itself but it also refers to the different competencies, challenges and capabilities associated with storing, managing and analyzing such huge data sets. Big data allows and enables marketing professionals have closer look at the customer and consumer.
We can thus enlist how big data will impact the future of sales and marketing: 1. Improved Business Models, Products and Services: Manufacturers now use data captured when consumers use their products to improve upon their existing offerings, thereby creating new and improved models that benefit the consumer and push them to buy. 2. Customer engagement: It can help the marketers not only in knowing who your customers are ,but also where theses customers are , what they want , how they want to be connected and when .
3. Customer retention and loyalty: It can help the marketers to analysis what attracts them and what keeps them coming again and again.
4. Marketing optimization: With big data, Marketers can determine optimization of