How can Big Data be used in Digital Advertising?

How can Big Data be used in Digital Advertising?
One of the biggest prophesies in technological advancement for 2022 in line with the 4th industrial revolution is big data, amongst other key features like AI [Artificial Intelligence], 3D Printing, Augmented Reality/Virtual Reality [AR/VR], Blockchain technology, and cloud computing.  

Big data has been seen in almost all sectors of business that make use of data, especially real-time information which can be updated as time goes on. A good example of where big data finds use is in social media platforms. 

Digital advertising has seen more light in recent times than the cure to COVID-19 and its offspring. Needless to say, even when you don’t pay attention while surfing the internet, there is probably a digital ad you did miss. 

But then, how can big data be used in digital advertising, you would ask? I have some interesting information to answer all that and more. Kindly read through. 

Is big data a big deal? 
Big data is a huge topic. Businesses will increasingly benefit from big-data analytics, from lowering costs and making better decisions to developing customer-demanded goods and services. 

Perhaps you underestimate the impact of big data, a brief understanding of the topic will set us up before delving into its use in digital advertising. 

What is big data? 
Wikipedia best describes big data as a discipline that deals with methods for analyzing, methodically extracting information from, or otherwise dealing with data volumes that are too massive or complicated for typical data-processing application software to handle. 

The three major notions of big data were initially related with some concepts, namely: volume, diversity, and velocity.  

Big data analysis introduces sampling issues, which previously barely allowed for observations and samples. As a result, big data frequently comprises data in amounts that typical software cannot process in a reasonable amount of time or for a reasonable price. 

What is big data in advertising? 
The massive volumes of data we collect in the process of big data must be curated, filtered, processed, and analyzed using cloud technologies. 

Big data in advertising provides us with eyes and ears for our marketing campaigns. It provides a degree of detail about our prospects and customers that has never been attainable before. While we may react to audience activities in real-time and their influence on consumer behaviour in the present, big data is revolutionizing marketing and sales in ways that were never considered. 

Today, digital marketing has the resources and technological know-how to develop extremely effective big data marketing campaigns, thanks to cloud technology that allows us to do so swiftly and affordably. 

How do companies use big data for marketing? 
1. Big data is used in marketing to optimize prices. 
Big Data can provide firms with information about their competitors' prices and inflation rates over time, as well as assist them to understand the buying power of their brand's users so that they can adhere to it without incurring any losses. 

2. It helps build customer relationships. 
Knowing the consumer and their preferences allows the marketing team to better comprehend the customer's decision-making process before recommending a certain brand. This will allow the marketing team to customize and streamline the consumer experience. 

3. Adverts and campaign design. 
Big Data is also collected from social media so that the marketing team can see what is trending so that they can change their marketing plan accordingly for the benefit of the brand. 

This helps the organization stay uptight on current trends and strategies to help leverage. 

How is big data influencing digital marketing strategy? 
Big data information will help create more effective targeted marketing than ever imagined. Advertisements will be displayed to users by third-party sources for companies wishing to promote online. This, in turn, contributes to greater brand recognition, income through higher sales, and brand loyalty. 

3 companies using big data? 
Companies may benefit from big data by automating operations, obtaining insight into their target market, and increasing overall performance, allowing the wealth of data at their disposal. 

Below are several firms that are using big data to grow their company, just as your guess is as good as mine. 
1. Facebook/Instagram [Meta] 
2. Amazon. 
3. General Electric [GE] 
This article is made possible by The Watchtower - Web Design Agency Dubai 

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