Big Data Strikes Again
AdWeek featured an article yesterday called “Three Brands That Used Data to Transform Their Media Strategies” that reflected many of the themes we have been learning about. In examining case studies of Proximity London, McCormick, UPS and Sprint, the article emphasizes 1) the overwhelming availability of data produced today and 2) how analyzing such data effectively is becoming a key means of realizing efficiencies and gaining a competitive edge. These four case studies reiterate the a key point of Precision Marketing, that “data a fundamentally important because data drive insight, insight drives relevance, and relevance drives customer loyalty” (85).
As a side note, this article also demonstrates the value of the analytics education we’re receiving this year in Marketing and Customer Value. Though SPSS can be overwhelming, it looks like ANOVA and chi-squared cross tabs really are the future of market research.