Looking at trends for big data in the year ahead, experts say that marketers will need to make more use of the technology in 2014.
As people become more interconnected through their smartphones, tablets and personal computers – statistically there are more devices connected to the internet than there are people in the world – they say that the information they browse and upload is valuable to marketers.
Writing in a blog for Wired, founder and chief executive officer of RadiumOne Gurbaksh Chahal explained that as consumers now expect to be able to go online and communicate wherever they are, more information that could be of use to marketers is being generated in real time.
However, Mr Chahal said that it is not enough for marketers to simply mine big data in order to create a better strategy. He explained that they must be careful to derive good insights from the information.
For this reason, more experts in big data are needed to find information that is relevant to marketers. As a result, more jobs for big data experts are being created. Additionally, people who are good at arranging data in a clear way to persuade boards to adopt strategies will also be needed.
This was the thought of chief executive officer of Econsultancy Ashley Friedlein, who explained in an interview with psfk: "Data analysis is obviously in demand. But being good with numbers isn’t the only area generating increasing interest. There is a need for marketers to communicate this understanding of data into a clear narrative that drives business results and wins board buy-in."
Moving forward, Mr Chahal predicts that advertising strategies are set to change in line with the rise of big data. The trends he expects to see are more targeted strategies so that users will receive adverts at a specific time or place, more intelligent software will be used to glean unfound insights from consumers and more data will be matched with geolocation.