Big data is a collection of data so big and incredibly complex that it becomes extremely difficult for it to be processed by the available data base management software or traditional data processing tools that are available. We are talking about a lot of data, the data that is picked up by all the mobile devices and all the other gadgets that we use. Lots of data analysed properly will provide invaluable insights in marketing.Watch out for Big Data this year!The rise of BIG data is one the digital marketing trends to watch out for in 2013 as predicted by AVATAR in one of our articles. In the article “Digital marketing trends for 2013 we spoke about 5 trends to watch out for in 2013.
These trends were:
- The Rise of Big Data
- Content Marketing
- Automated Marketing
- Marketing campaigns starting with mobile.
- Moving from Search Engine Optimisation to Targeted discovery.
How big is Big Data?
It is just too big. It can range from Gigabytes to Exabyte of data (one quintillion bytes, 10 to the power of 18 bytes.) Where you collect a lot of data you start to run into a lot of challenges. Firstly there is the actually process of capturing the Data from source. After the data is captured, there is need for the Data to be kept in a form that can later be retrieved and made sense of. It would be possible for the data to be searchable. The data will need to be shared as well and in a format that can be analysed and visualized that insights can be quickly derived from it.
Use all the Data
In the past the trend was to analyse samples but now the power of computers and software is so great that all the data can be analysed. To some extent it makes a lot sense. Why work with just a sample when you can use everything? However using all the data you have comes at a huge cost in terms of complexity.
How does the Data keep growing?
The amount of data on hand is increasing exponentially from one year to another. Data keeps growing because we sharing more Data about the things we are doing in our personal lives and in business and this is happening around the clock. There are more transactions and events and everything seems to be always on. The collecting of Data is happening around the clock whether we are aware of it or not.
Big data is now big business as seen by the considerable investment made in the field by various companies from IBM, Sap, Oracle and Google. But big data is now coming to a place near you in the world of Digital Marketing as smaller companies get access to the tools and technology needed to make the most of Big Data.