How IOT is all set to Revolutionize the Marketing Industry?

The internet of things has gained traction since the value derived from data has considerably increased. The big data technology has provided organizations capabilities to make sense of their unstructured data. This has given way for more number of objects with embedded computing to collect more and more data. The trends indicate that by 2020 a staggering 50 billion objects with embedded computing systems would be bringing about revolutionary changes in the world.

One of the major changes that internet has brought in recent years is evolution of social media which is now becoming epicenter of online marketing. Similarly mobile internet backed by growth of Smartphone market has provided marketers an opportunity to collect real time information about their customers.

Customer Feedback through IOT

In today’s competitive market, internet has provided customers with knowledge and easily available options to select the best products at best prices. This implicates invoking customer loyalty is a big challenge for marketers.  The best way to counter this problem is to get feedback from the customer to tailor made the product or service according to customer preference.  The customers are less interested in providing feedbacks when they have plenty of options. The IOT devices with embedded computing and sensors can easily track the customer experience of the product. For example a sensor in a car can give car makers an idea on the usage pattern and performance overview of their product. This means instant feedback can be obtained which will help marketers to improve the product to suit customer preference.

Self Maintenance for better Customer Experience

One of the biggest reasons for customer dissatisfaction with a product or a service is when they have to call the technical support team after product or service is down.  A good product or service with a bad maintenance process can make customers switch to other brands. The IOT can support self diagnostics and through constant monitoring IOT objects can contact the support team before the product goes down altogether. For example, you are visited by an electrician to repair your air conditioner even before you made any call or even noticed that your cooling system is ineffective. This will create a wow effect amongst the customer with a maintenance process exceeding customer expectation.

Social Media Marketing through IOT

Social media channels like Twitter, Facebook, Pinterest etc have become a make or break branding platform for all the organizations irrespective of their size. Social media marketing efforts are easier to implement and much easier to monitor. There is an upsurge in organic traffic of the websites due to social media marketing. IOT will be the next big thing in the social media marketing trend as they can be optimized to generate automated posts. IOT can play a major role in observing social media communities to effectively target audience.  This will help marketers in keeping one step ahead of the coming trends to bank on them.

Conclusion
 
IOT has a huge potential to implement path breaking marketing strategies. More and more adoption of IOT technology will force marketers to innovate their marketing with the help of this technology. The combination of IOT and big data will provide unprecedented business intelligence to marketers which will evolve the whole marketing industry.






About the Author:

Vaishnavi Agrawal loves pursuing excellence through writing and have a passion for technology. She has successfully managed and run personal technology magazines and websites. She currently writes for Intellipaat, a global training company that provides e-learning and professional certification training.

The courses offered by Intellipaat address the unique needs of working professionals. She is based out of Bangalore and has an experience of 5 years in the field of content writing and blogging. Her work has been published on various sites related to Hadoop Training, Big Data, Business Intelligence, Cloud Computing, IT, SAP, Project Management and more.

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Big Data : A Big Step for Big Life

Big Data has not only given giant companies new ways to maximize their profit, but also given data scientists and researchers a new way to understand and work on complex phenomenon, and also given generalists a new unique technique to generate their stories. A few years ago, forecast of future scenario of any company was just dreaming of dreamers, but the big data made it possible. Now company knows where they will stand after one year. This is revolution.

The overall cost of collecting and analyzing big data is quite high, so naturally, companies are trying to squeeze maximum information from their big data.

The ultimate value of big data is always dependent on how effectively companies use it to make more profit and how long is data expected to be relevant enough for use.

Difficulties in deriving information from big data

As the name suggests, big data is huge enough to make things very difficult for those who fetch valuable information from it. It’s like finding a needle in a haystack.  It really is a challenge for analytics to bring down the valuable information from millions of chains of data. But considering the importance of big data, big companies spend dollars to evaluate that valuable information. That’s the call of today’s global market.

Analytics-“Data’s value maker”

The quality of information fetched from big data is totally dependent on the quality of Analytics behind it.  Research shows that analytics is one of the biggest factors and differentiators between companies that fetch the most value from their big data and companies that don’t.

Analytics avail the hidden information to the companies, which help the policy makers to take accurate decisions in favor of companies, to maximize their profit. Increase in the income graph reflects the importance of analytics in big companies.

Data Explosion- “rise of fully digital world”

The explosion of world of data is pretty new. As is year 2000, only one quarter of all the information available in the world was stored in digital form, the rest was preserved on the paper, or over films or by any other analog media. But as the rate of expansion of data is very high, the situation has swiftly inverted. And today only 2% of the data are in non-digital form. This is a huge change which took place in the comparatively very short span of time. The need of digitization and advancement in technology is the root cause.

That day is not so far, when we have our dream world- “fully digital world”.


The Future- “Where data is everything”

In this rapidly digitizing world, a world of data is expanding exponentially. In a single marketing firm, millions of stacks of data are generated every day by customer’s transactions alone. These data are stored and preserved. And new hubs of data keep on adding. You can imagine, data are actually flooding.

The biggest challenge in today’s world is management and preservation of valuable data effectively. The data is to be preserved, because it holds valuable information with it.  Researchers and scientists are working hard on developing techniques to extract a maximum of valuable information from big data.

The future will definitely bring a new data dominant world. A world where anything and everything will totally be based on some data.  And by observing the pace of development of the digital world, anyone can say that- “that day is not so far”.


About the Author:

Vaishnavi Agrawal loves pursuing excellence through writing and have a passion for technology. She has successfully managed and run personal technology magazines and websites. She currently writes for Intellipaat, a global training company that provides e-learning and professional certification training.

The courses offered by Intellipaat address the unique needs of working professionals. She is based out of Bangalore and has an experience of 5 years in the field of content writing and blogging. Her work has been published on various sites related to Big Data, Business Intelligence, Project Management, Cloud Computing, IT, SAP, Project Management and more.

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Redefine Technology with Big Data Management

 
Big data describes the large volume of both unstructured and structured data which is not handled by traditional database. Big data usually includes data sets with sizes beyond the ability of commonly used software tools to capture, curate, manage, and process the data within time. Technology is changing the way financial institutions operate, markets are organized, and consumers and businesses interact with investment banks. It will also offer insight on the struggle between regulation and adopting smarter operations for demanding clients. It will offer new ideas for technology and information executives on the next wave of innovation – not only what banks are doing today, but what they are planning for tomorrow.

Ready access to data, quickly and with rich analysis and visualization, has qualitatively, as well as quantitatively, changed the communication patterns and hence the decision processes in many Technologies. Business intelligence software provides actionable and manageable information that can improve chain’s efficiency—from manufacturer through to the end-user. The goal of big data management is to ensure a high level of data quality and accessibility for business big data analytics applications and intelligence. The primary objective of analyzing big data is to support organizations in making better business decisions.
 
End-to-End Visibility –

Business intelligence software can provide far greater transparency by handling big data correctly. Business intelligence creates improved end-to-end transparency, and provides access to the inner workings of a business.

Avoid vendor lock-in and fragmented solutions -
Data proliferation demands innovative infrastructure, self-service analytics access and effective management. Big data solution providers address a fraction of the hardware stack or make you rip and replace your infrastructure.

Data organization-
Data has become most powerful resource for any business, especially for eCommerce stores, it’s a daunting task to collect data from multiple sources and organize it in a way that it gives useful information to business owners.  Big data provides solution to all the challenges of data handling and also helps in analyzing data for making better business decisions. 

Better Collaboration -
Collaboration is the fundamental rule of logistics management: if one link in the chain is severed, the entire process can fall apart. Building relationship after relationship is a fundamental step in the supply chain, which is used to make better collaboration one of the most important ways that big data influences the supply chain market. Business intelligence, and the software that comes with it, makes maintaining supplier-buyer relationships simple.

Pinpoint Focus –
Big data provides real time updates and insights, which is essential to achieving better focus. As you receive that intelligence, you can make any business changes necessary, large or small, to exact specifications.

Here are some examples of a combination of different tools for big data insights:

• Cloud is extensible, scalable, flexible, elastic, self-healing, on-demand, etc. and used to provide the inexpensive hardware/software platform with all applications (such as Kapow, SAP Intelligence Analysis for Public Sector application by Palantir, SAP, Sybase IQ, CRM, SAP Data Services with text analytics) for rapid ramp-up at lower capital cost requirements.
• Hadoop provides reliable data storage and high-performance parallel data processing – the ability to store extremely large data sets.
• SAP HANA provides the extremely accelerated business warehouse/enterprise data warehouse.

About the Author:

Vaishnavi Agrawal loves pursuing excellence through writing and have a passion for technology. She has successfully managed and run personal technology magazines and websites. She currently writes for intellipaat.com, a global training company that provides e-learning and professional certification training.

The courses offered by Intellipaat address the unique needs of working professionals. She is based out of Bangalore and has an experience of 5 years in the field of content writing and blogging. Her work has been published on various sites related to Big Data, Business Intelligence, Project Management, Cloud Computing, IT, SAP, Project Management and more.

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The potential of Big Data in Digital Marketing

Big Data is a solution to the problem of ever increasing data volume and variability.  For marketers Big Data is like a gold mine for its ability to handle complexity of information.  The ability to take data driven decisions based on Big Data analytics is a powerful resource for digital marketers.

Big Data serves four major purposes for any organization in terms of digital marketing.

1 Customer Engagement

Big Data allows you to collect as much as data possible about the customers. You can learn about who your customers are and where they are from. You can gain insights on their interactions with your online store or website. Learning about the demographics and preferences helps you to provide them a user experience which would be most suited for them. For example Big Data can help you find that most of your customers from a particular age group and when they like to be contacted and which marketing collateral will be appropriate for them.

2 Customer Retention and loyalty

Big Data can help you learn about what is the reason behind the return visits of the customers. Is it the price, the product display, the brands, the offers or any other contributing factor which is helping your customers in making a decision to return to your store? This is the most powerful insight that Big Data can give you which will help you in retaining your customers and design a well planned customer loyalty program.

3 Optimizing Marketing

Big Data will also help in keeping track of your marketing efforts. It will give you insights about which social media channel is best suited for your marketing campaign. It will help you understand how much effectively your marketing efforts were able to create desired results for you.  You can easily tweak your marketing campaign based on insights gain from Big Data analytics. For example you were able to learn through Big Data analysis that most of the audience responded to your videos than your email marketing or posts.  The next time you can channelize your efforts more towards creating videos for your brand rather than investing time in email campaign.

4 Forecast

Big Data will help you forecast when would be the best time to develop & implement marketing plans.  Big Data helps derive meaning and trends from large volume of data. With the analysis of past purchase behaviour of your customer you would be able to predict when the demand rises and when there is fall in demand. You can use this insight in making better marketing related decisions.



Conclusion

Big Data is becoming very important part of your digital marketing efforts as more and more organizations are becoming data driven.  Big Data will be able to provide value from this data which was not utilized earlier. Big data will provide competitive edge to the marketers as they will be able to make better decisions and will be well informed about the customer’s preferences. The businesses that will be not using Big data will be bring a knife to a war which is fought with guns.

About the Author:


Vaishnavi Agrawal loves pursuing excellence through writing and have a passion for technology. She has successfully managed and run personal technology magazines and websites. She currently writes for intellipaat.com, a global training company that provides e-learning and professional certification training. The courses offered by Intellipaat address the unique needs of working professionals. She is based out of Bangalore and has an experience of 5 years in the field of content writing and blogging. Her work has been published on various sites related to Big Data, Business Intelligence, Project Management, Cloud Computing, IT, SAP, Project Management and more.

Read more