Top Big Data Technologies And Solutions to Watch
- March 24, 2023
A successful email marketing campaign is based on a well-founded target group analysis. In order to get to know the wishes, interests, and needs of customers, companies rely on user data such as age and gender, but also consumer behavior, click behavior, and device use. This is where big data comes into play: The data generated by a company is now more extensive than ever and requires good structuring and evaluation so that it can be used not only for email marketing. We would like to explain what concrete Big Data is and how companies use mass data to optimize campaigns and product portfolios.
Use of big data for personalized campaigns
The term big data describes masses of data that, due to their size, complexity, and changeability, cannot be evaluated using the typical methods of data processing. At the same time, big data stands for all digital technologies with which the enormous amounts of data are generated, as well as for their storage, analysis, and evaluation. The evaluation of the collected data is also called data mining.
The three "Vs."
Big data is mainly determined by three aspects, the so-called three Vs. Volume denotes the scope, i.e., the volume of data. Facebook alone was able to collect 500 million terabytes of data every day in 2012. Velocity stands for the speed with which the amounts of data are generated and processed. For example, Facebook users upload 900 million photos every day, and the trend is rising. On YouTube, in turn, users upload an average of 100 hours of video material per minute. The third determining aspect is Variety and describes the diversity of the data characteristics and the data origin. A rough distinction is made between data that arise from communication between people (e.g., social media) and from communication between people and programs.
Other determining factors
In addition to these three main aspects, there are three other factors that determine Big Data, its generation, and evaluation. On the one hand, value and validity describe the added value that the data created for a company, and the other hand, the assurance of data quality and its reliability. Veracity, in turn, describes the context in which the data are located after they have been statistically evaluated. Using statistical methods such as association or cluster analyzes, data mining is examined for patterns and relationships that enable the data to be structured in a meaningful way. If there are relevant correlations, predictive models can be developed, which can bring enormous advantages to a company.
What are the advantages of big data?
Information about individual customers is crucial for the success and growth of a company. Big data provides important insights that help to develop efficient marketing measures. Information from websites, email marketing, online shops, social media, and CRM systems is available and, based on the knowledge gained, enables web content to be optimized, the product portfolio expanded, and new, customer-specific campaigns developed. Big Data scores with good scalability and, therefore, relatively low costs: Additional servers are simply added to the existing system for storage and evaluation.
What is a business intelligence system?
Business intelligence systems, like big data, collect data, also evaluate it and present it in electronic form in an optimal way. The analysis, therefore, goes through three phases. Within the so-called data delivery, basic data are determined and recorded, mostly in a central database called a data warehouse, which is designed to combine data from a wide variety of sources. The second phase - the discovery of relations, patterns, and principles - consists of placing the collected data in a context so that any patterns or contradictions can be identified. This process is also known as data mining. As part of the final third phase, knowledge sharing, the knowledge gained is communicated within the company and integrated into knowledge management. Based on the knowledge gained, decisions are now made to develop new actions or optimize existing measures.
BI offers these advantages
Business intelligence systems offer highly functional analysis options, excellent data quality, good scalability, and data processing as required. They integrate data from different sources, for example, data generated using email marketing or social media marketing, and then automatically compress it into key figures. In addition, business intelligence applications are easy to expand and offer high query speeds, even with large data volumes. Furthermore, they enable different usage concepts and offer various frontends, so that a wide variety of users can access exactly the information they need. A downside is the high cost that BI can cause, but it's worth the investment.
With the combination of Big Data and BI, you can optimally prepare data
In the absence of an optimal solution, it makes sense to combine big data with business intelligence. The combination of the data warehouse of a business intelligence system with big data is called data blending. The data is integrated without the need for intermediate storage. As soon as the data has been processed, it can be analyzed in the respective front ends. This enables a company to use all of its data to further personalize its own measures.
You should meet with a business intelligence company to take the advantages that big data offer you for the optimization of your marketing.
Hyperlink InfoSystem is one of the leading software development companies based in India and has offices in USA, UK, UAE, France, and Canada. With 10+ years of experience in the industry, Hyperlink InfoSystem served more than 2,300 clients worldwide. The company has a team of 450+ highly skilled developers who works on any custom solutions using the latest technologies.