Big Data Marketing Analytics
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Transcript of Big Data Marketing Analytics
Emerging Marketing Analytics
Akash| Bryan| Nishi| Prashant|
Subhadeep| Vaibhav
BIG DATA
Types Of Data
Data
Structured Semi Structured Unstructured
Traditional Data in a traditional Database
structure
Structured but unstructured “blobs” Inconsistent
Enterprise Resource Planning, back up storage for large volumes of data
Facebook, linkedin logs, web chats,
YouTube
Call centre logs with toll –free responses, web logs that track
website activity
What is Big Data?Advanced analytics operate on Big Data.
Leverage data to make better business decisions.
Velocity-Batch-Real time-Near Time
Volume-Terabytes- Transactions- Tables etc.
Variety-Structured -Unstructured-Semi structured
Big data
Rate at which data is consumed or
generated
Data is increasing at a rate of 15-20% Extremely large amounts of data (Terabytes)
Range and type of data sources
Big Data: Why?
Increase value of US
healthcare by $300 billion
Increase value of Europe’s PSA
by EUR250 billion
Decrease manufacturing
cost by 50%
Increase US retails net
margin by 60%
Source: McKinsey Report
Potential of Big Data
Uses of Big Data:• Marketing decisions and analytics• Innovating new products and services• Risk management• Applicable to all domains – BFSI, Telecom, Media, entertainment etc.
RETAIL- Walmart
NeedRetail industry is customer driven
Fierce competition- Very less switching cost-Stock out- Non Availability of any item
Companies should be well informed-Continuous monitoring of customers data (real time monitoring
For retailers to be1. Competitive2. Customer retentionTrack and analyse social media and all other forms of customer data available
Market Causality
Intervening
Component
Antecedent
Extraneous
Data OrganizationType of Errors Manual Data
OrganizationAutomated Data Organization
Incoherent
Incorrect
Irrelevant
Incomplete
Inconsistent
MetadataY = Sales
X = 10 P’s of marketingY = f(X)
Type of Metadata:
• Customer Life time Value• Consumer buying behavior• Transaction pattern• Churn score
Social Media Analytics- the new wave
50% businesses are unsure of direct value of LinkedIn
53% are unaware of their ROI from
50% are unsure of how to measure
impact of business metrics from blogs
Social Media Analytics- the new wave
• Social n/w specific KPIs• Choose metrics that
translate into business context
Define measurable and Actionable KPIs
• Create a filter or segment for social traffic
• Add event tracking • Measure events responses
and interactions• Ad campaign tracking
Configure your Analytics • PAID tools- Radian 6,
SYSOMOS, Lithium, Raven• FREE tools- Social Mention,
Whostalking, Thinkup
Use super social tools
• Quantitative- New likes, total likes, Page views, referrals
• Qualitative data- Users, language, locations, comments
• Activity data- post views, interactions, interaction times, response rates.
Understanding each social metrics
• Test test test to get better results
• Long term benefits• Identify worst performing
metrics• Ad campaign tracking
Revise your strategy • Change content and format
• Frequency change• Study target page market• Your response rate and
relevance
What to do?
How Walmart connects!
Over 22 million likes
More than 2 million
comments
Daily consumer insights and
data mapping
RESULTS
• Cost and Mission-success alignment
Cost Effective
• Better inventory and Logistics management by using Predictive analytics
Inventory • Best Price to Customers• Right portfolio of goods• Understand Customer
better
Improved Customer Service
THANKS