Marketers are now capable of gathering huge amounts of data on consumer behavior ranging from where customer shop to what apps they use and which comments are“like” on Facebook. By tapping into data on consumer behaviors, it is predicted that, Big Data is going to revolutionize everything marketers do. Big Data can help marketers understand their audiences infinitely better than they did previously and therefore send more targeted, more personal communications custom tailored to each individual user can be formulated.
As Big Data can also be expensive, cumbersome, and intimidating, the good news is that in many cases, Big Data isn’t always necessary. Sure, it would be great to be able to analyze billions of actions from millions of consumers in order to understand the audiences better, but it’s often more practical to start with smaller subsets of data and work your way up to Big Data incrementally. Small Data is much less expensive than Big Data, so even though Big Data might be able to deliver a better return over the long haul, Small Data will help you break even on your investment much faster.
Small Data Revolution for Marketers
Let the Small Data revolution begin!
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Source: Smart Data Collective