The Big Data trade fair devoted to predictive marketing
17 March 2016
Source: Paxabay
Big Data, a future already past?
The latest edition of the Big Data trade fair attests to the importance of this annual event and its treatment of our business figures. More than 127 data specialists gathered here to present the already disclosed results, as well as the trends for the months and years to come.
Market figures have risen from 10,2 billion euros in 2013 to attain 54,3 billion euros by 2017, and the forecasts speak of an acceleration of this growth. The two days spent at Palais des Congrès de Paris gave the opportunity to take note of numerous feedback experiences, and grasp the predominance of this market data in all the sectors of the economy.
The platforms of Mappy or Orange were the occasion to look back on the benefits of Big Data on commercial policy, while also glimpsing the promise of predictive marketing.
For its part, the SNCF (French national railways) also succeeded in showing that the new analyses offer the possibility of better station regulation, in terms of rail traffic and management of passenger flows (and thereby the clients of the station’s shops).
This event emphasizes that market data is widespread in all our economical sectors, including that of health. If the year 2015 has been greatly marked by the multiplication of Big Data applications, it still remains the year of the acknowledgement of IoT, an acronym for Internet of Things.
The “intelligent” refrigerator that helps you write your next grocery list, or the connected tooth brush that promises a more effective brushing… The future of IoT remains to be seen, but there is no doubt that promotional advertising will lean heavily on this new support to improve its efficiency.
From the Internet of Things to predictive marketing, Big Data comes to the aid of sales promotion
Big Data’s 10,500 visitors got a first hand look at the new concepts of machine learning, artificial intelligence and other forms of deep learning. Connected objects also attracted its fair share of visitors, many admiring the future city and health articles, as well as the successful combination of technological achievements and innovations on the one hand, and the collection of, and analysis of data on the other.
No longer a myth or something to fear, Big Data has become permanently ingrained in our daily life, and from now on the real challenge focuses on the ensuing new applications. The advent of predictive marketing, already tested by a number of multinational companies, has set its stamp on 2016.
Predictive marketing is no longer a future dream and already progressively spreading. Henceforth, powerful algorithms will, for example, enable the establishment of behaviour models for customers about to terminate their contract. By using this new form of marketing, the firm can detect a change and have the time to react and send adapted advertising gifts or essential elements of reassurance to the customer. In this way, communication could become the ultimate loyalty weapon, opening the way for new possibilities of future marketing strategies.
The latest studies show that the use of Big Data guarantees a growth of between 5 and 8 times the ROI of marketing activities. However, predictive marketing is even more promising as it assumes moving from a passive stance to programmed actions, even before the customer has realised it. Communication, marketing and corporate promotion must react swiftly, and it is with this in mind that predictive marketing represents the major challenge in tomorrow’s business.
Another article: Predictive marketing: tracking down sales before customers!