One of the biggest challenges
that companies face is that they lack the proper expertise to analyze their
large quantities of collected data, then proceed to taking action from their
results. It is through getting insights into the
behavior patterns of customers that plays an important role in developing campaigns
that are specifically focused and targeted. “Big
data can be used to help create targeted and personalized campaigns that
ultimately save money and increase efficiency by targeting the right people
with the right product” (entrepreneur.com). Companies
are able to pay close attention to which products advertisements are not only the
most popular, but also how do these popular ads translate and convey to them
making money.
The big data information acquired makes it so that
companies can target users in current online communities, and subsequently use
the data to assist them in better understanding and identifying certain patterns
in how the user behaves. A main goal of advertising is to reach their
target audience at the right time. Big data can help in predicting purchases,
as well as analyzing the type of performance in designated segments of their
audience. Companies are now able to mine their data to improve both their
bottom line and customer service.
See the full article here: https://www.entrepreneur.com/article/293678
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