Marketing Applications Using Big Data

Abstract

Big Data applications abound in all disciplines. In this chapter we consider the practical applications of Big Data analytics in Marketing. Businesses spend significant human and financial resources in marketing their products and services to potential customers. In this chapter we look at how businesses use the data gathered from multiple sources and use that to promote their products and services to customers who are more likely to benefit from them. Typically, marketing involves communicating with the potential customer through multiple advertising and promotion mediums. Much of the information sent to the potential customer is either in print or electronic form. Businesses who use appropriate target marketing feel that a person within that market would eventually turn out to be a customer. With this in mind, the approaches businesses take are geared towards sending the right information to the right person. To gain this type of knowledge, businesses use extensive data from multiple sources. With the advancements in computing power, affordable resources and social media, businesses are in a better position to target their materials at the potential customer. Even though the cost of information dissemination is very small, if the information is sent to the wrong person then that person is not only going to discard the information but may resent being bombarded with unwanted information. In this chapter we show the various techniques real businesses use to target the right customer and send the information that will be used. In this effort Big Data techniques are helpful. We point out how the data was used in marketing and its success.