Today, we’re releasing a brand new report, called The CMO’s Guide to Big Data, which outlines how the increasing availability of sophisticated reporting and analytics can help marketers make their programs more efficient and capitalize on untapped opportunities.
As technology spurs data collection and analytics forward, the effective management Big Data is becoming a necessary practice for marketers. The quantity of information available presents huge opportunity to better understand your brand’s consumers and how to reach them more effectively. Conversely, the sheer volume of information on hand can present a daunting challenge, as marketers are tasked with making meaning of this data, and then arriving at a strategy for how best to harness it.
The CMO’s Guide to Big Data details both the benefits and challenges of Big Data, and provides next steps on how marketers can put it to use.
In this report:
* What is Big Data? Big data refers to the explosion in information coming from diverse sources—in particular, machine and user-generated data from mobile devices and data from social media—that is too large to cost-effectively manage and analyze using traditional IT techniques.
* Why does Big Data matter? Marketers who successfully measure what matters within this influx of data will realize greater marketing efficiency and ROI, and identify opportunities to advance their brands’ offerings and positioning.
*What are the associated challenges? With so much information available, figuring out what data matters and how to harness it is the first and greatest challenge. In addition, CMOs must rally their teams to break down silos, share data and work together to maximize use of it.
* How can I get started? Appoint a Chief Data Scientist or Chief Marketing Scientist and develop a team. Then, create an internal plan to educate the marketing team on your data – what’s available and how to use it. Finally, internal capabilities and technologies are needed to help you take full advantage of Big Data.
Cover image via USA Today