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Have you had to make an update to your buyer persona in the last few months? Getting all the data you can manage and using that information to update your buyer personas is a bit of work. Many businesses are still using this method to get most of their information.
This method still works and is very successful, but there is a new method of getting your customer information on the horizon. This method is big data. Big data gets defined as:
Big data is a field that treats of ways to analyze, systematically extract information from, or otherwise deal with data sets that are too large or complex to be dealt with by traditional data-processing application software.
By using big data, businesses can get more specific with their market research. For example, with website cookie data businesses can completely understand how users are interacting with their website. How clients are arriving at the website and what website referred to the user.
All this information can be incredibly helpful and provide you with endless amounts of data on what your customers want and need. Rather than focusing on the small amount of data you can process yourself. Using big data you are able to look at the same information but at a much larger scale.
The big benefits of big data are:
There are also pitfalls, not just related to big data but to data analysis in general. Many businesses tend to consider data as a commodity and want to use as much data as possible and analyse data as fast as possible. This is problematic if you have a large and varied database to analyse.
Other pitfalls of data analysis are:
Big data is going to become increasingly important in the future. Being able to work with big data visualisation tools is going to be a skill that marketers will need to have. If you are looking into starting a marketing career, do keep big data analysis in mind.