The Big Data works. Of the organizations that have used the Big Data in at least 50% of their marketing initiatives, three out of five (60%) say they have exceeded their targets. However, companies that used Big Data in less than 50% of their initiatives, only 33% have exceeded their targets.
This is the main result of the study by Forbes Insights and company Artificial Intelligence in Big Data Rocket Fuel, “The great potential of Big Data: A Practical Guide for directors Marketing.” The research is based on a survey conducted in August 2013-211 senior managers of marketing companies from different sectors and advertising agencies in the US. Forbes Insights also conducted personal interviews to provide context for the results.
“The report shows that it is more likely that large users of Big Data generate useful insights on consumer habits that organizations are lagging behind in the use of these technologies,” said the Chief Insights Officer and responsible for the Practice of directors Forbes Media marketing, Bruce Rogers. “And what is even more important, is more likely to increase their sales.”
The more companies make use of the data, the more likely they are to overcome their objectives
More than nine out of ten companies (92%) using the data always or frequently have reached or exceeded their targets, while only 5% of those who have indicated that they have made sufficient use of the data reported being remained below their expectations.
Managers believe they are using Big Data in an amount sufficient, when it is not
Most advertising agencies and companies in other sectors say always or frequently make sufficient use of Big Data in decision-making processes of marketing. However, only one of 10 companies that were not advertising agencies managed more than half of your marketing / advertising with Big Data and only one third of the agencies Big Data used in more than half of its activities.
Many managers may have trouble defining Big Data and its potential benefits.
Only half of managers (both agencies and other companies) has indicated that well or very well understand what is Big Data and what are its benefits.
Systems that generate data quickly and can detect changes in customer behavior will become increasingly important
Approximately a quarter of the survey participants considered these critical systems for the success of your marketing activity, while over 43% said it would be increasingly important for most of its activities.