State of the Art Implementation of Big Data in Strategic and Operative Marketing. Challenges and Effective Responses
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"Data is the new gold" and "The world's most valuable resource is no longer oil, but data" - Headlines like these, published by The Economist and the World Economic Forum in 2017 and 2020, underline the crucial role data plays in business nowadays. Big Data has become the "Holy Grail" for health, security, administration, and marketing businesses.This paper seeks to understand the significance of Big Data for the marketing sector. How is the state of the art regarding the implementation of Big Data supporting and enhancing strategic as well as operative marketing activities? Which challenges a...
"Data is the new gold" and "The world's most valuable resource is no longer oil, but data" - Headlines like these, published by The Economist and the World Economic Forum in 2017 and 2020, underline the crucial role data plays in business nowadays. Big Data has become the "Holy Grail" for health, security, administration, and marketing businesses.This paper seeks to understand the significance of Big Data for the marketing sector. How is the state of the art regarding the implementation of Big Data supporting and enhancing strategic as well as operative marketing activities? Which challenges are companies facing while adopting Big Data, and how can they respond most effectively to them?Matti Bouffier explores the potentials and challenges of Big Data by providing a well-researched theoretical elaboration of the technological dimensions of Big Data implementation. His analysis is supported by expert interviews, which further illuminate the impact Big Data has on real-life marketing business. By bridging the gap between theory and praxis, Bouffier is able to give recommendations for how to address the main challenges and harness the potentials of Big Data implementation.Inside the book:- Data-driven marketing;- Big Data in marketing;- Challenges;- Correlation-driven analysis;- Causality-driven analysis
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