Marketing has always been a major aspect of retail, as companies need to launch innovative strategies to keep prospective and existing customers interested in a specific brand or product. For this reason, companies are increasingly turning to big data projects to make marketing initiatives more effective.
This was highlighted in a recent study by a major marketing firm, which revealed that 2013 will be an important year for big data-enabled advertising strategies. If decision-makers want these projects to be effective, however, they will need to ensure data quality
is a top priority.
"In 2013, brands will eschew the strategy of hope and embrace a new strategy of help and in doing so, will usher in a new era of marketing," said Jay Baer, president of Convince & Convert. "Simultaneous shifts in [why and how] much information customers consume have fundamentally altered marketers' formula for success."
A separate Adotas report revealed similar expectations for 2013, noting that markets will spend an increasing amount of time on big data projects so advertising campaigns are accurate and useful. After all, if an organization has incorrect information about customers, attempts to attract new clients may be futile.