While there are a number of emerging IT trends that are having a significant influence on the marketing landscape, big data is often the one with the most weight. This is largely because organizations can analyze customer behavior and use the information gathered to develop more intuitive and personal advertising campaigns.
Unfortunately, there can be some challenges associated with data quality when decision-makers do not take the time to evaluate a resource's specific worth, according to a report by MarketingProfs. Companies are having difficulty managing structured, unstructured and partially-structured information, each with its own level of functionality.
MarketingProfs also noted that organizations are encountering problems when analyzing resources to gather insight on today's consumers. To combat this problem, executives need to leverage advanced data quality tools that can make sense of customer information to be used in real-time marketing campaigns.
Columbia Business School recently released a report that said there is significant potential for generating a positive return on investment when incorporating big data into advertising endeavors, as understanding customers can give firms an advantage over rival organizations that just take guesses. By planning ahead and using innovative tools that ensure information is accurate and timely, businesses can develop unique and effective marketing programs to generate revenue and keep clients satisfied.