Big Data is here to stay. We are in an era of constant information. We have in our hands devices that know our lifestyles and recent searches. For example, for sports lovers, there are smart watches that constantly take the pulse and caloric information, at the same time that it notifies the arrival of a WhatsApp message from the family group. All this more detailed information is currently available in cloud repositories, being consumed by companies to improve our experiences in digital media. How can I start collecting data from my customers and activating it to offer them better digital services?
Develops a measurement and data collection strategy
Every measurement strategy starts from the business objective and the knowledge of the digital properties that have been enabled or are about to be enabled. For example, if you have e-commerce and the objectives of your business are: “Generate sales through digital platforms” or “Create loyalty and upsell” it is important to have the accurate measurement of your site and the collection of data on the behavior of your users.
A great example of the use of consumer data in retail is Amazon. The gigantic Jeff Bezos company uses the behavioral data of its users and personalized, not only the experience within its website, but also the messages it transmits through different digital media. It is for this reason that when someone searches for a particular item, the site offers them similar products that might interest them, in such a way that it keeps them on the site for longer and with more possibilities of generating an up-sell sale.
Connect your data sources to a cloud repository
Yes, we know, it sounds like a very titanic task, but when you join forces with partners who are experts in these types of solutions, the results are extraordinary. Connecting data sources in a repository in the cloud will allow you to cross-reference information that will help you grow your business. For example, you will be able to know the lifetime value of your digital clients, create advanced attribution models, even personalize their experiences both online and offline, in short, the possibilities are unimaginable.
Use data science to find answers to your questions or buying patterns from your consumers.
Once you have your data sources connected in a cloud repository, you can initiate more advanced analysis processes through a data science team. These teams will take your business objective and create statistical analysis models that help you, not only to answer your business questions, but also to prepare the data for future activations and intakes to other systems or viewers.
Visualize the information to find insights
Data is an important source of insights, therefore once you have it stored, it must be processed and prepared to be displayed in a dynamic and friendly report for you and all the company’s stakeholders. Google Datastudio can help you with this. It is a Google tool that allows you to view data from various sources and create specific reports and graphics on the information you want to measure.
In conclusion, extract, load, transform, visualize and activate the data you have at hand and generate a Data Driven Marketing culture within your company. This will help you become more efficient and get better business results faster.
If you are looking to extract, order, visualize and activate your data so that it works in favor of your business objectives. We can help you! Do not hesitate to contact us.
*Harvard Business Review magazine; May-June 2017