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Definitions for Real World of Big Data Marketing

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Definitions of terms used in the world of Big Data Marketing.

Content from Big Data Marketing by Lisa Arthur. Learn more: bit.ly/WileyBigDataMarketing

Published in: Data & Analytics
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Definitions for Real World of Big Data Marketing

  1. DEFINITIONS for the REAL WORLD of BIG DATA MARKETING 9 TERMS YOU AND YOUR TEAM NEED TO KNOW
  2. Volume Volume is the amount of data, and it includes data from traditional and non-traditional sources. 1 Volume 1 Volume Volume is the amount of data, and it 1Volume is the amount of data, and it includes data from traditional and 1includes data from traditional and non-traditional sources. 1non-traditional sources. 1
  3. Think about the transactional data from a typical grocery store shopper. The products purchased and the frequency of each sale, that’s big data.
  4. Now couple that traditional data with the digital data from that shopper’s Facebook page. Then, add all other shoppers’ Facebook pages, too.
  5. As remarkable as it sounds, there is now the equivalent of 100 terabytes of data uploaded to Facebook every day. (100 terabytes is equivalent to the space to store 33 million songs.)
  6. . . . and that’s just one social platform.
  7. Velocity Velocity is the speed of information generated and flowing into the enterprise. 2 Velocity 2 Velocity Velocity is the speed of information 2Velocity is the speed of information generated and flowing into the enterprise. 2generated and flowing into the enterprise. 2
  8. There will be 40 zettabytes of data generated annually by 2020. (According to the International Data Corporation [IDC]) (1 zettabyte = 1 million terabytes)
  9. With 2.8 zettabytes generated in 2012, this means the digital universe will about double every two years until 2020.
  10. Variety Variety is the kind of data available to companies and their marketing teams: sensor data, SMS data, web clickstream data. 3Variety 3Variety Variety is the kind of data available to 3Variety is the kind of data available to companies and their marketing teams: 3companies and their marketing teams: sensor data, SMS data, web clickstream data. 3sensor data, SMS data, web clickstream data. 3
  11. The list of data types is long, and it will continue to grow, adding to the complexity of the data hairball.
  12. Keep in mind: Marketing is both the end-user and a generator of big data.
  13. Big Data Marketing Also known as data-driven marketing, big data marketing is the process of collecting, analyzing, and executing on the insights you’ve derived from big data to encourage customer engagement and improve marketing. 4 Big Data 4 Big Data Marketing 4Marketing Also known as data-driven marketing, big 4Also known as data-driven marketing, big data marketing is the process of collecting, 4data marketing is the process of collecting, analyzing, and executing on the insights 4analyzing, and executing on the insights you’ve derived from big data to encourage 4you’ve derived from big data to encourage customer engagement and improve marketing. 4customer engagement and improve marketing. 4
  14. Integrated Marketing Management (IMM) IMM is the process of merging and streamlining internal and external marketing functions, including data, processes, people, channels, and technologies. 5 Integrated 5 Integrated Marketing 5Marketing Management (IMM) 5Management (IMM) IMM is the process of merging and 5IMM is the process of merging and streamlining internal and external marketing 5streamlining internal and external marketing functions, including data, processes, 5functions, including data, processes, people, channels, and technologies. 5people, channels, and technologies.
  15. Marketing Operations Management Big data marketing relies on a set of processes and applications that provide a framework to systematically plan, manage, and execute marketing operations, including budget, marketing planning, and content management. 6 Marketing Operations 6 Marketing Operations Management 6Management Big data marketing relies on a set of 6Big data marketing relies on a set of processes and applications that provide a 6processes and applications that provide a framework to systematically plan, manage, 6framework to systematically plan, manage, and execute marketing operations, including 6and execute marketing operations, including budget, marketing planning, and content 6budget, marketing planning, and content management. 6management. 6
  16. Customer Interaction Management Managing customer information across multiple touch points, including the Internet, mobile, social media, and offline channels, is crucial for marketing success. 7 Customer 7 Customer Interaction 7Interaction Management 7Management Managing customer information across 7Managing customer information across multiple touch points, including the 7multiple touch points, including the Internet, mobile, social media, and offline 7Internet, mobile, social media, and offline channels, is crucial for marketing success. 7channels, is crucial for marketing success. 7
  17. Customer interaction management evolved from campaign management and includes expanded analytical and digital engagement capabilities.
  18. Digital Messaging Digital messaging includes any of a variety of tech-based marketing communications, including email, SMS messages (texting), mobile app notifications, and social media posts. 8 Digital 8 Digital Messaging 8Messaging Digital messaging includes any of a variety 8Digital messaging includes any of a variety of tech-based marketing communications, 8of tech-based marketing communications, including email, SMS messages (texting), 8including email, SMS messages (texting), mobile app notifications, and social media 8mobile app notifications, and social media posts. 8posts. 8
  19. Digital Marketing While many of us understand the fundamental concept of digital marketing, it is important we are truly talking about the same thing when we use the term. 9 Digital 9 Digital Marketing 9Marketing While many of us understand the 9While many of us understand the fundamental concept of digital marketing, 9fundamental concept of digital marketing, it is important we are truly talking about 9it is important we are truly talking about the same thing when we use the term. 9the same thing when we use the term. 9
  20. A great example of digital marketing is when a consumer visits a website, clicks on a product, abandons it, and then sees that same product appear as an advertisement on his or her Facebook page.
  21. Other examples involve value added content versus straight-up advertisements; with these, the consumer and the marketer share more interactions.
  22. Once marketers are able to unlock and harness big data, it can pave the path to the so-called marketing Holy Grail, that elusive 360-degree view of the customer.
  23. Learn more from Big Data Marketing by Lisa Arthur http://bit.ly/WileyBigDataMarketing Cover photo © iunewind/iStockphoto Source: Laney, Doug. Meta Delta Application Delivery Strategies. “3D Data Management: Controlling Data Volume, Velocity, and Variety.” January 2012. Online reference. http://blogs.gartner.com/doug laney/files/2012/01/ad949–3D-Data- Management-Controlling-Data-Volume-Velocity-and-Variety.pdf. Source: Cloud Partners. “Facebook UsersUpload 100 Terabytes of Data Daily,” Blog post. March 28, 2012. Online reference. http://www.cloudpartnerstm.com/facebookusers- upload-100-terab/wsdindex.html.

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