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Though the use of big data remains a huge challenge for many businesses, those with more advanced capabilities are beginning to shift the emphasis from volume of data to speed of analytics.
As analytical processes gain more velocity companies are able to gain a competitive advantage by using data in a way that significantly impacts business performance and market position.
In the past decade there has been a massive increase in the amount of data that is potentially available to marketers.
But simply having a lot of data is of no real use to anyone. It’s the quality of the data and what you do with it that counts.
If I may indulge in the use of some buzzwords: marketers need to move from big data to smart data.
A new report from Econsultancy and Acxiom investigates the complexity of the data landscape, especially in relation to marketing, and the importance of getting it right in the mind’s eye of the consumer.
Entitled Delivering Value in the Data Exchange, the report is based on interviews with brand-side senior executives as well as an online survey of 1,000 UK consumers.
Confused by cross-channel analytics? Bewildered by big data? Stupefied by structured data?
Well I’m not surprised. Who wouldn’t be?
It’s a big world of complicated words, terms and phrases that can intimidate even the most digital savvy of webmasters wishing to dig deeper into the information their website has been quietly amassing over the last few years.
Help is at hand though, in the form of this very beginner's guide.
I have written it in the form of a glossary, as it seemed the clearest method of presentation. Not only is it alphabetical but it should also make logical sense if you read it in order.
This is for anyone whose had a rudimentary glance at Google Analytics, or spent a little time in the Site Stats of their WordPress site, or has a copy of our Measurement and Analytics Report but has yet to open it.
We call these people the intrigued but slightly baffled. Welcome, you’re in good company!
Digital marketing is a strategic priority for the telecom sector, with an average of 46% of total marketing budgets being assigned to digital.
The report explores how companies operating in the telecom sector approach digital marketing, as well as the key trends, opportunities and sector-specific issues shaping their digital strategies.
The insight is based on a global survey of more than 200 telecom executives based mainly in North America and EMEA (Europe, Middle East and Africa) and inside the downloadable report you’ll discover data around key business priorities in telecom, where companies are focusing digital marketing and technology, opportunities and budget plans for the next 12 months and obstacles to integrated marketing.
In the meantime, here’s a summary of three key trends identified in the report:
Marketers live in a world that is creating 2.5 exabytes of data each and every day.
This provides both a challenge and an opportunity to marketers. How can they process and harness big data in faster and more innovative ways to deliver deeper insights and improved business performance?
What needs to be done to bridge the gap between ordinary email marketing and best-in-class email marketing?
I’ll be taking a look at our recent report, Bridging the Gap in Email Marketing, written by Morag Cuddeford-Jones and in partnership with Pure360, in which interviews were conducted with digital marketing professionals across a range of businesses, exploring the challenges and opportunities for marketers who are committed to taking their use of email to the next level.
As the report reveals through its interviews, to ‘go up a level’ in email marketing actually means the necessary act of going down a level. Many levels in fact. Drilling deeper and deeper into data, into the organisation and deeper into the customer’s needs to deliver effective campaigns.
There are four key areas which need to be explored; mobile, personalisation, automation & integration, and data. Here we’ll be taking a look at the latter discipline.
Big data is a term which has been used widely over the last year or two, but what does it mean?
It's a term which may trigger thoughts of massive amounts of forbidding, almost unfathomable data, but what do marketers think of it?
Predictive analytics has been around for a while, as has machine learning, but it's only now with the profusion of cloud-based software in marketing that this form of data analysis has started to take off.
AgilOne is a US company, launched 2012, now branching into the UK, that provides predictive analytics software. I spoke to CMO Dominique Levin to find out more about this technology.
Is it powerful enough to make one-to-one marketing a possibility and not a fallacy?
At this year’s Digital Cream event in London we hosted a series of roundtables discussing big data and, more specifically, ‘data-driven marketing’ alongside senior marketers in the industry.
The three sessions gave us a fantastic opportunity to talk about key issues in big data as well as tackling both widespread and sector specific problems.
Big data is such a contentious issue these days, mostly down to the overuse in marketing headlines and sound-bites. However, there was a serious desire from all attendees at Digital Cream to get to the crux of how the big data landscape is shifting and how to survive it.
The overwhelming view was that big data cannot be ignored and proactive steps must be taken to remain competitive. The only problem was – how?
Data is a hot topic. It always has been. But now there’s way more of it.
For all those tired of the talk of big data, which is changing services, there’s also a backlash, a sort of arts and crafts movement in statistics (no offence intended) with a focus on using ecommerce product and customer data efficiently, now that it can be looked at it in high fidelity.
Perhaps the biggest boom area in marketing technology at the moment is CRM. But aside from companies getting their houses in order, building them on the rocks of data collection, triangulation and testing, there’s talk of a further revolution.
The revolution comes in the form of a data empowered consumer. The customer is gaining more awareness of and control over her data. Will we approach a point where consumers are fully aware of the value of their data, and are capitalising on it with companies that enable a value exchange, providing extra services, products or savings?
Well, this post is going to have a lot of rhetorical questions in it, questions inspired by last week's Personal Information Economy conference run by Ctrl-Shift. But it will also have some facts and a particularly good case study, Money Saving Expert’s Cheap Energy Club.
So, have a read and let me know how far you think a data empowered consumer can change advertising and marketing.
We are all sharing more data than ever before with other organisations in our emerging Big Data Society. Sharing lets us use our resources much more precisely and produce completely new services.
But misusing customer data risks destroying customer trust. Still, we all need that missing piece of the Big Data puzzle, so we all need to share more.
Last year Econsultancy published an article claiming that some businesses doubt the value of personalisation.
Although 94% of companies agree that personalisation ‘is critical to current and future success’ less than half of companies are personalising their website experience.
This isn’t because they think personalisation is unimportant, but because they don’t actually know how to make the most of it.
However, even the smallest of companies can target their consumers directly using personalised content.