Big data can help make sense of the information gathered, such as retention cost, average transaction value and even customer satisfaction.
After several years of cautious enthusiasm, the marketing and advertising technology sector is now embracing big data in a big way. That’s the good news. The obstacle is that most companies and brands still lack the expertise necessary to analyze huge amounts of data and make it actionable. According to a 2015 survey, most companies seek a specialized skillset that is normally not found in most a typical ad agency. In plain English, these companies are collecting data they don’t yet know how to use. That’s the bad news.
Gaining insights into customer behavioral patterns plays a crucial role in creating focused and targeted campaigns. Big data can help make sense of the information gathered, such as retention cost, average transaction value and even customer satisfaction.
This article originally appeared in Entreprenuer.com. To read the full article, click here.