The digital revolution we live in allows us to produce and store vast amounts of data. In the last decade, the concept of Big Data has evolved – Data Big – or copy data in standard Hebrew.
Marketing is an essential action for the existence of any business, however when marketing is done incorrectly, its costs may outweigh its benefits.
One way to streamline and improve the various marketing processes in a business is to make them data-based, i.e. empirical data obtained from marketing systems regarding customer activity patterns and / or other data.
Managers are required to monitor the management of their physical or virtual assets. Before the Big Data era, it was very difficult to do that.
Today it is possible to simply get data in almost every possible parameter such as traffic to the site and stores, number of goods entered per month and profits per period and thus perform effective and extensive monitoring of business activity – sales, profits, supply chain and more.
How to manage data wisely?
In order to intelligently manage the information we have accumulated one must know a few important points in order to understand the process.
Data locator
It is important to be equipped with platforms for locating data in smart ways. It is important to locate the relevant data from all the data that form the basis for making business decisions. Also, data analysis to produce concrete insights.
Data integration
It is important for managers to examine how any business activity has affected sales, company profits and more.
In the past it was possible to estimate only short-term or point effects, but today with countless possibilities for data integration, long-term effects and combined effects can be examined.
How do you generate insights and promote your business?
The decision-making process based on ongoing analysis of the data produces smarter and better decisions, relying on data and knowledge. Such decisions are faster, more grounded, and can be reviewed and improved because the process is structured and transparent.
Data obtained in real time and at the right time, can give the company a significant predictive ability regarding trends and trends that are currently occurring in the external and internal environment of the company, which will allow it to respond more quickly to any threat or opportunity.
Only through information analysis will SMPS Marketing experts be able to offer suitable products, which can meet the customer preference, and just as importantly, know when the business’s customers have a strong buying / abandonment intent and respond accordingly.
