How to leverage big data to make better marketing decisions

by | Jul 23, 2022 | Technology

Join executives from July 26-28 for Transform’s AI & Edge Week. Hear from top leaders discuss topics surrounding AL/ML technology, conversational AI, IVA, NLP, Edge, and more. Reserve your free pass now!

Organizations regularly rely on big data to make decisions, keep the business running and strategize for the future. They have come to adapt an ever-growing set of data sources – both internal and external – and an increasing range of tools to put the data to use.  

Modern businesses use big data on a day-to-day basis to understand, drive and continue developing all aspects of the organization’s goals. But stakeholders need to understand how and why the quality of the data is directly linked to the quality of decision-making. Big data, by definition, refers to vast amounts of information collected at high velocity. If not analyzed objectively, it can create analysis paralysis. However, the same data, when dissected thoughtfully, can help organizations gain the right insight.

The place to start this analysis is understanding customer buyer needs and challenges, and this in turn will help successfully develop strategy and understand performance as the business progresses. To scale business, leaders need to understand the nuances involved in locating and collecting relevant data, deriving the most valuable insights from it and putting it into action.  

Of course, pattern recognition is key. It should funnel up from multiple sources and merge toward a single point. Data from finance, partner businesses, multimedia performances, systems and applications need to converge toward a pattern to help make informed business decisions.  

Utilizing data for decision-ma …

Article Attribution | Read More at Article Source

Share This