The decisive role of big data in digital marketing

What is big data？

Big data is more than just binary code sitting on a hard drive. Big data covers everything from how many people shop in the supermarket every day, what they buy every day, when they come, how much they spend etc. As long as it is useful data can be collectively called big data.

What can big data bring us?

In the post-epidemic economic development situation. The market competition in all walks of life is becoming increasingly fierce. Traditional marketing methods may not have a great cost advantage. And big data is more simple and more straightforward to show customer preferences. In addition, compared with the traditional marketing model, it may take a period of time to get customer feedback from the market. This directly affects the decision-making of enterprises. Use big data to analyze customers' consumption habits and behavior patterns. It is easier for companies to come up with more distinctive products. So as to enhance consumer loyalty.

For small investors, it is easier for them to obtain consumer data information. For example, from your own company's shopping website. This effectively reduces the difficulty in the traditional marketing model. In addition, marketing costs can be achieved with the largest reduction. Especially in the start-up stage of the enterprise. They don't have deep pockets. They can only use big data to make accurate decisions about the direction of the company.

IS Big Data really safe?

In fact, consumer personal information is indeed a huge challenge. In the context of big data, and behavior of a person may be recorded again. Take for example what coffee you had this morning, what you had for breakfast, and where you went today. It's all documented by the merchants. Recording all this big data may be so you can have a better coffee and a tastier breakfast tomorrow. But we can't deny that some people do sell this data for profit. But laws are improving and there's reason to believe that big data will become more relevant to life and business in the future.

Wenchang LI /10551137

(Disclaimer: This content is for the sole purpose of teaching and learning at Edith Cowan University)