Why Big Data Plays a Critical Role in the World of Digital Marketing

Without Big Data analytics today, companies are deaf and blind. Big data is one of the huge megatrends that is continuously gaining attention along with the increasing number of companies trying to convert digital data into profits for their consumers.

Just like driverless cars, artificial intelligence, and cryptocurrency, these emerging technologies are taking us into new territory.

With big data management services, many B2B companies invest substantial effort and time to collect huge amounts of data from a range of websites to enhance their decision-making abilities.

The Big Data Challenge

Big data is an amazing complex undertaking that is getting tougher every day to manage as the business continues to grow and the amount of data (Big Data) gets bigger.

Also, undetected flaws or gaps in business can weaken confidence quickly and lead to poor results. In case your company is already using Big Data analytics in an attempt to gain a competitive edge in the market, then you already understand that the benefits of big data come with many challenges.

Another challenge with big data is the data backup and recovery process. Most companies have lost some of their crucial data and fell into frustrations of recovering the lost data because they failed to address a proper backup plan in time. There are fantastic data recovery companies such as data recovery nyc that can help you recover your data.

Big data in businesses can be challenging, frustrating and incredibly overwhelming. However, if you understand how to collect, analyze and store the data, then you will be able to learn more information about your customers and prospects and eventually improve how you venture into the market.

According to the most recent research on the impact of “Big Data Analytics” on companies, it was established that companies making extensive use of Big Data Analytics realize close to 126 percent profit increase over their competitors in the market. This is a considerable increase that should not be ignored!

A new opportunity

Data analytics companies such as DataTrue are in a better position to help digital companies enhance their data collection, data analysis, and implementation processes. They help monitor  “tags” that collect data on your website, enabling you to measure traffic while optimizing your online marketing. These solutions make it stress-free for developers, agencies, and marketers to add tags and collect more data.

Additionally, accurate data will flow well into any data collection tool that supports your reporting. This will help you uncover vital insights and facilitate personalization.

Creating and protecting competitive advantage

New challenges in business mean new solution. Companies spend a lot of effort and time trying to establish key performance indicators, a data measurement strategy, and how they fit in with their business plan. Once they have established all these, they then need to identify data analytics tools suitable to support these goals, plans, and objectives. In case you are fresh with this kind of research, then you can now see how big data analytics is such a challenge.

Big data protection

Now that we have clearly established the importance of “Big Data”, let us now look at how to protect this data. If you are familiar with websites like Farnam Street, then you must be familiar with Mental Models, which act as rules of thumb or filters, to help us in making better decisions, rather than getting misled by our own cognitive biases.

The key goal of this article is not to provide a comprehensive analysis of these models, but to highlight the significance of human error and objective analysis and how its relationship to big data help marketers pick the right approach.

Next step

So how can we be sure that the data we are relying on is up-to-date and accurate? Well, there is both bad news and good news. The good news is that probably your competitors are not doing a good job enough to match your competitive edge. The bad news is that big data collection is a complicated process that requires constant refinement. Finding the right partner to help with streamlining data collection and making sense of it should be your first step of action.

Final thoughts

Big data analytics is still a long way to go for most companies! If anyone believes that all this is enough motivation to create a revolution, then it is unfortunately not so. Most companies have caught the wave of big data analytics, but are still struggling to implement it. Despite intermittent failures, big data adoption is the future, and taking the baby steps is a slow but guaranteed way to realize this future.

Author: Robin Jago is editor in chief at TTR Data Recovery. He is a data scientist and has decades of experience in writing posts on big data management and analytics.