Numbers, Please: Big Data: Friend or Foe of Digital Advertising? Five Ways Marketers Should Use Digital Big Data to Their Advantage
In recent years, much has been written about the emerging importance and value of “Big Data.” From my perspective, however, Big Data actually have been around for decades—ever since low-cost computing power and powerful relational multi-dimensional software were made broadly available. Twenty-five years ago, Big Data generated by UPC point-of-sale scanners changed the face of marketing in the consumer packaged goods (CPG) industry by causing marketing spending to tilt ominously in favor of price discounts and away from advertising.
Today, real-time digital Big Data generated by the Internet offer the ostensible benefits of providing consumers with an easy way to find the lowest price for any product while also arming marketers with dramatically expanded advertising optimization capabilities.