06 Aug Marketers use technology to fight big data challenges
In the era of big data, marketers have come to learn one thing: information can help companies enhance their marketing efforts. This is a valid point and this blog has discussed this topic in the past, but one thing marketers need to understand is the number of challenges that can accompany a big data strategy.
Building larger volumes of data can ultimately help marketers gather the information they need to reach a more responsive audience with a more targeted message, but just having the information without any system in place to analyze it and provide context won't offer much assistance. In fact, when marketers have more information to sift through to find what they are looking for, they will likely find it more difficult to effectively do their jobs.
A recent survey adds credence to this thought, determining if marketers aren't aware of big data challenges and don't prepare for them accordingly, they could find themselves trapped under mountains of information. The Teradata Data Driven Marketing Survey 2013 states that marketers are increasing their reliance on data, although many of them are still trying to determine the best possible way to manage their information.
According to the results, the most popular way for marketers to deal with big data challenges is to implement new technology used to increase analytics and build efficiency into information processing operations. The study projects a 60 percent increase in analytics spending over the next three years. In fact, Chief Marketing Officers (CMOs) are starting to take over Chief Information Officers (CIOs) as the top executives when it comes to relying on technology to process information. The study suggests CMOs will outspend CIOs on technology by 2017.
While it's crucial for marketing departments to understand the importance of technology and how it can help alleviate big data challenges, implementing a new system for the sake of doing so may not be the best solution. Companies need the right technology to process their information. One that can scale as data volumes continue to grow is ideal, considering the fact we don't know how massive big data will get in the coming years.
FileMaker development allows companies to build custom database software systems designed to collect, process and store information. Marketers can meet the challenges of big data if they build the right system to fit their needs, which will ultimately improve the company's overall marketing efforts.