While big data initiatives are common, marketers are particularly interested in exploring such projects. This is because analytics that support data quality requirements can dramatically improve advertising campaigns, allowing decision-makers to develop targeted approaches that are designed to attract specific consumers.
A recent study of more than 250 executives by The Direct Marketing Association revealed that firms are spending more time evaluating the social media landscape to create location-aware promotional strategies. In fact, 62 percent of respondents said they acquire information from social network profiles and media transactions to develop effective online marketing campaigns.
"Our survey shows that marketers are relying more on social media vehicles and location-based information to gain more insight into consumer behavior and drive successful digital marketing campaigns," marketing expert Stephan Dietrich said.
Another survey by Columbia Business School revealed that roughly 85 percent of businesses are using social media as a marketing tool because it allows decision-makers to gather more information on the consumer landscape. As social networks continue to expand, executives should consider deploying big data strategies so they can make sense of the resources attained through online platforms.