We live in an age of Big Data and more and more companies in a wide range of industries are making it a point to collect as much data as they can about markets, transactions, their website's users and customers.
When it comes to customer data, retailers are a blessed bunch because they have greater opportunities than many to collect this type of data.
Thanks to the 'trackability' of digital media and the rise of Big Data, more and more companies are hoping that decisions they once made on gut instinct or educated guesstimates can and will be made on hard data.
Which, in theory, is a good thing: data-driven decisions should enable businesses to understand the dynamics in their market and use that knowledge to better serve their customers.
Once again we round up six of the best infographics we've seen this week.
The topics include tech trends, Apple's cash reserves, big data, and the best ways to optimise your YouTube channel.
Brands love social media, and as evidenced by the number of high-dollar acquisitions of social media monitoring and analytics firms last year, they love the data that social media generates.
And, on the surface, there's a good reason for that: popular social networks like Facebook and Twitter give brands a front-row seat to the collective conversation consumers are having about their products and services. From that conversation, brands may, in theory, be able to gain valuable insights that help them connect with consumers and serve them better.
A business can't thrive without customers, and for that reason, the efforts of marketers are often focused on new customer acquisition.
Unfortunately, many companies neglect their existing customers and one of the reasons this happens is that they don't ask a simple question: who are our customers?
Here are six of the best infographics we've seen this week.
This time the topics include multiscreen content consumption, who to follow in the SEO industry, big data, the marketer's guide to actionable data and a look at how small businesses in Australia use social media.
Big Data may be tough on our technology stacks, but the real challenges lie elsewhere.
Promises. Promises. Big Data sure makes a lot of them.
Increase the effectiveness of your sales (or political) campaigns by using behavioural data to divide customers into micro-segments.
Improve brand perception by monitoring the complex web of conversations across Twitter, Facebook and other channels and then engaging carefully with key influencers.
Analyse internal processes to find opportunities to reduce costs and increase responsiveness.
Sounds great, but is it real? Are people actually doing such stuff, or is it all vendor hype?
A business can't survive and thrive without customers, but when it comes to understanding customers, many companies feel like there's a huge gap between what they know and what they need and want to know.
In fact, companies "are desperate to understand more about their customer" according to Yesmail Interactive president Michael Fisher.
Yesterday, we looked at what some industry professionals think are the big trends in big data for the upcoming year. I had the chance to talk to Dr. Michael Wu, Chief Scientist at Lithium Technologies, about what he is looking at for his research in 2013.
For him, it's about smart data instead of the generics often spoken about around "big data."
For most businesses, marketing is a crucial component of success. If you can't market effectively, you can't sell and grow, and that spells trouble.
Thanks to the internet, the rise of digital marketing channels, and the abundance of marketing tools and technologies, companies have more marketing assets and capabilities than ever.
But figuring out how to use them correctly is often a challenge and there are a number of common mistakes that hold companies back. Here are five of the biggest and most detrimental.