Companies spend billions of dollars in advertising to promote and sell their products and increase awareness about their brand. They use various channels like TV, Radio, Internet, News, Magazines etc. On the other hand consumers search for products, reviews before making any purchase.
When consumers search for products, visit websites, add products in cart they leave lot of data points, which could be used by advertisers to sell appropriate products by showing relevant advertising. Publishers can use Big data solutions to store user interactions, build user models, utilize machine learning to predict likely hood of purchasing a product or service etc.
Advertisers can also leverage Big data to perform analysis of their campaign performance. They can use data management platform (DMP) to collect data from publishers, ad servers, social media and external parties. They can also leverage real time decision logic to serve relevant ads which will provide better conversion.
Advertisers can use user models from DMP and real time processing power of Big data to evaluate ad request and perform optimal bidding in milliseconds. Offline ML models could be used to create creative, placement scores for users, which could be easily used in decisioning logic.
Companies can ingest campaign budget data in Big data store and overlay it over campaign metrics to gain spend insights that way media planners can optimize their campaigns and make better allocation of their budget.
Companies can use big data to build interactive campaign dashboards to view consolidated campaign data from various sources. They can measure KPIs like CPC, CTR, CPM, CPA etc.
Companies often create paid campaigns on social platforms like Facebook, Twitter, Instagram, Pinterest, Youtube, Linkedin, Flipboard etc. They also have product, community pages and regularly posts tweets, videos or photos to engage with their customers. They can ingest social media data in Big data to better understand their consumer behavior.
Knowing customers better will drive right targeted campaigns, which will result in better customer experience and conversion. Big data solutions allows creation of customer data sets to know who are the customers, where are they location, what they are looking for etc. Marketers can apply machine learning models to segments customers using variety of campaign elements. Using audience segmentation feature marketers can effectively target their customers.
Companies build products and services and it takes time when people trust the product and its name resonates with quality and value and becomes a brand which then drives business. Brand perception is very sensitive to bad news and that could cause lot of damage to a company's sales. To maintain brand companies invest lot of money in making quality products, advertising etc. It is also essential that companies should engage with their customers, listen to their opinions, issues and measure satisfaction to improve or protect their brand. This build competitive advantage and drives higher growth. Companies can use Big Data to manage, protect and improve brand image.
Companies can use Monte Carlo models to do scenario analysis and perform simulation of campaigns. Big data provides necessary storage, compute and models.