As part of our annual digital trends, we have collected thoughts on 2015 digital marketing trends from expert leaders and practitioners in their field.
Below are 6 Big Data Trends for 2015.
|Cindy Truyens, Managing Director, SQS
|With Data Science becoming a real specialism over the coming years and the increasing amount of universities offering data science as a degree course, I believe that the number one underpinning trend of 2015 will be data.Following the advent of Internet of Things and Connected Devices the volume of data has exploded bringing with it some really gritty problems that have yet to be solved in this new context. Three of these difficulties which instantly spring to mind are: volume processing, access and privacy.
Due to the predicted explosion of data, it is vital that the data it is properly managed assessed and utilised in an effective manner. CIOs will need to ensure that they do not drown in a sea of figures and are able to recognise what is relevant to their business. They will also need to be making a conscious effort to discard data that holds little use to them.
Data is at the heart of understanding our customers and our businesses. While the applications are endless, the issues of source, accuracy and relevance will magnify. Therefore, this is something that should remain at the forefront for CIOs in the coming year.
|Virginie Dupin, Vice President of Marketing EMEA, PROS
|Big data is not a new concept; what is new is how companies are use the data – accompanied by prescriptive and predictive analytics – to guide business decisions. We see 2015 as the year big data analytics become synonymous with yielding new and increasing sources of revenue. We’ll see marketing and sales professionals truly harness the data at their disposal and use it to outperform in their markets.Companies have at their fingertips massive amounts of data. The issue becomes how they use the data to make smart business decisions.We find, in fact, that many companies are paralyzed by the data they have and find it difficult to discern how to use it to make those decision.By adopting big data solutions – with predictive and prescriptive analytics – companies can analyze existing data from CRM systems, transactions, pipelines, invoices, rebates and various other internal sources.
Marketing and sales professionals will be able to free themselves from time-consuming, manual spread sheet updates, and inefficient pricing and marketing practices. For example, PROS analytics process enormous data sets that identify customer segments and provide insights into specific customer buying behaviours. This information can then be used to identify customer buying patterns and preferences, enabling companies to better hone marketing, sales and business strategies that directly affect the bottom line.
|Nishat Mehta, Executive Vice President, Global Partnerships, dunnhumby
|Customers will gain more control over the use of their data – with more and more wearable technology enabling users to create their own data, new commercial models will have to develop to compel a customer to share their data with a marketer.I am looking for companies like DataCoup and others to experiment with the right models and push the rest of the industry down this path. As a result, marketers will benefit through more accurate data and clear permission on how they can use it.
|Prelini Udayan-Chiechi VP Marketing EMEA at Bazaarvoice
|The amount of data businesses can capture about their customer base is growing at an incredible rate. Every online interaction is a data point and all this acquired information makes up an individual digital identity.Businesses and retailers are more aware of the untapped potential this captured data has. Through knowledge gained via personal information such as buying history, past reviews and social network data, businesses can suggest highly relevant products to shoppers and deliver a more targeted and personalised experience.
Consumers know businesses want their information but can be reluctant to share if they are unsure what will be done with it. Trust is essential here. If a consumer trusts you they will be more willing to trade data with you. The onus is on businesses to entice people to share through a value exchange and we will see more brands creating personalised and valuable experiences which reward consumers for their loyalty.
|Ellie Fields, VP of Product Marketing, Tableau Software
|Social intelligence becomes a competitive advantage.In 2014 we saw organisations begin to analyse social data in earnest.
In 2015, the leading edge will start to take advantage of their capabilities. Tracking conversations at scale via social will let companies find out when a topic or concern is starting to trend, and arm their sales force with talking points. It will let companies know their customers’ top concerns without being told. And as a result, it’ll make their competitors feel that these companies have an eerie ability to see into the future.
|Paul Putman, CEO of Donky
|Until recently, retailers have only been able to capture data linked to individual devices. However, with the advances in both app-based and web-based messaging technologies, a key advantage throughout 2015 will be the enhanced ability for retailers and brands to aggregate data across sources, to analyse and utilise user information.By identifying users from existing data, retailers will be able to connect and interact securely with their target audience, regardless of the device or online retail channel, to support customers on their journey into and through the connected world.
As a result, the industry is seeing a shift towards ‘single-channel tech,’ where retailers will be able to create a single customer view-point across multiple platforms, technology partners and technology ecosystems. As it becomes possible for retailers to obtain a fuller picture of their customers’ preferences, behaviours and responses, this will also enable retailers to tailor future communications to each individual user accordingly.