Online Marketing Analytics - Managing Big Data is Not Enough
Big Data — large pools of data that can be captured, communicated, aggregated, stored, and analyzed — is now part of every sector and function of the global economy. The amount of raw, available data is growing rapidly. Organizations now collect information from mobile phones, tablets and sensors embedded in all kinds of products. On top of that, social media interactions throw off a whole new breed of data to contend with. To deal with this data deluge, new types of data capture technologies are popping up daily to deal with these “petabyte” and “exabytes“ of tremendously dense datastreams.
This data, while daunting, creates a significant opportunity for business. More detailed data makes it possible to make more refined decisions between smaller, more discrete segments. Tighter market targeting and more dexterous control of business drivers offers competitive advantage. However, this opportunity also includes a considerable challenge. Faster machines — even when working together — are unable to keep pace with the growing amount of more granular data and the desire for more analytical flexibility and the need for ever-faster response time.
This whitepaper looks at Online advertising as a use case for Big Data and the challenges involved in leveraging it. We can no longer appraise our data management systems by how much raw data they hold and how fast they can retrieve it. The gold standard for data systems is now to analyze near real-time data and allow for iterative, ad-hoc explorations.