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0:00
Hello and welcome to
the session on Data
Analytics and Metrics.
My name is Hanne
Knight and I teach
marketing at the University
of Plymouth in the UK.
Some of the content
is taken out of
my textbook Digital Marketing
in Practice: how to design,
implement, and measure
effective campaigns.
0:20
In this session, we
will be covering
the importance of data
for digital marketing.
As such, we will explain
the importance of
big data in informing
digital marketing decisions.
We will distinguish between
the 3 Vs of big data
and review the application of
big data in a digital
marketing context.
Finally, we will evaluate
the challenges of
data-driven marketing.
0:44
Digital marketing is all
about using technology
to identify and anticipate
customers' wants and needs.
The digital context allows
for a lot of data
to be collected.
With such opportunities
to collect
vast amounts of data
comes also problems.
Leeflang et al. confirm
that the main challenge
facing digital marketers
involves data.
It was found based on surveying
more than 750 marketing
executives that there's
a knowledge gap
on how to use and
analyze consumer data
to compete effectively.
Big data is a term that
covers techniques and
systems that can make
sense of larger volumes of
data and has changed
the role of marketing.
According to Segal,
big data can be defined
as the following:
It refers to the
large, diverse sets of
information that grow at
ever-increasing rates.
It encompasses the
volume of information,
the velocity or speed at
which it is created
and collected,
and the variety or
scope of the data
points being covered.
This is also known as the
"three Vs" of big data.
Big data often comes from
data mining and arrives
in multiple formats.
