IntelTrax Summary: October 12 to October 18
October 22, 2012
This week the IntelTrax advanced intelligence blog posted some informative stories regarding the state of big data analytics technology and its impact on marketers and retailers.
“Big Data Particularly Useful for Marketers” examines businesses can mine data that they are already collecting in order to increase revenue. The pressure to create a marketing strategy that is both customer and market driven is intense, and it has caused many marketers to turn to analytics solutions for aid:
“Marketing analytics used in conjunction with big data will help many organizations properly evaluate their marketing performance, gain insight into their clients’ purchasing habits, market trends and needs and make evidence-based marketing decisions. As one example, look at how politicians are using big data to identify their target audience and reach out to the so-called “silent majority.”
“Using Big Data Analytics to Predict Consumer Behavior” is another article that discusses the impact that big data analytics has on marketers. It examines changes in consumer behavior. Now, instead of marketers running the show, it is the customers who are leading market trends.
The article predicts:
“In the not-too-distant future, you will be able, for example, to change your contact information with many vendors at once, rather than many times, over and over, at many different websites. You will declare your own policies, preferences and terms of engagement—and do it in ways that can be automated both for you and the companies you engage. You will no longer have to “accept” agreements that aren’t worth reading because, as we all know, they cover the other party’s butt but expose yours.
In addition to your personal tool kit, you’ll have software that can knit together your apps with the services offered by companies, saving work for you and creating business for them—all in real time.”
Many smaller companies that are new to the analytics scene are choosing to invest in Google Analytics over some other solutions. “Google Analytics for Dummies” shares an article that provides a step-by-step look at how to use Google Analytics to determine the success of your sight.
However, the author explains:
“Google analytics are meaningless if you can not take the information it gathers and make necessary changes on your web site. Not everyone realizes this, but there are other companies out there that offer even more comprehensive analytics services than Google. Digital Reasoning has spent the past decade creating automated understanding for big data. Its flagship product Synthesys addresses big data challenges in the enterprise market – including Financial Services, Healthcare, Insurance Fraud, Electronic Discovery, and Enterprise Risk.”
Digital Reasoning is a company that has been working in the data analysis and management field to create a solution that takes the pressure off employees and automates the process. Synthesys is used by marketers worldwide to understand market trends and gain valuable insights into customer behavior.
Jasmine Ashton, October 22, 2012
Sponsored by ArnoldIT.com, developer of Augmentext
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