BIG Data Big Questions
If big data is not part of your marketing strategy, then you’re missing out on valuable insights that can drastically, and perhaps cheaply, transform your business. To keep up with today’s high demand for big data, companies provide tools to track and measure almost anything. You can even track your mood throughout the day- and perhaps try to get creative and plan your most important sales meeting when you’re at your best mood! In market research and insights, there are tools such as implicit and emotional measurement instruments that you can use to measure consumer engagement.
However, with all these fancy tech gadgets, we also generate a huge amount of data. In fact, ninety percent of the data in the world today has been created in the last two years! In just one minute, 300 hours of video is uploaded on YouTube. No wonder why some argue that influencer marketing is the next best thing! Marketers look for software to help them manage big data, but ironically big data software also generates more data. Can you manage big data with more data? That is the question that marketers from all levels are asking themselves on a daily basis. In addition, can we even extract more data? Are we even allowed to? With the GDPR (the General Data Protection Regulation) in place in Europe, consumers must give consent before data can be collected. Otherwise, you might pay hefty fines. So, no consent no cookies, sorry marketers!
Same as artificial intelligence, which has been in the news lately. AI can be used to segment customers demographics, identify bottlenecks in the process, and perhaps solve the world most difficult questions. But artificial intelligence, like humans, has its limitations. We need to know what to ask. What kind of insights can we extract from our big data? What types of questions should we be asking our big data? After all, you need to write the algorithm and tell AI what to do. So how do market researchers come up with S.M.A.R.T frameworks? These are the essential questions we should ask ourselves before we start looking at big data.
What are the recipes for success: are there any? How do big brands do it? Are there any real-world examples we can learn from? What about proven recipes for success? These types of questions are raised and answered every year at the ESOMAR Congress. It’s a 4-day event packed with real-world examples and practical insights that you can take and apply to your business. The event will discuss the latest trends and development in insights and market research. Last year it was attended by 1,200 delegates from over 80 countries and this year it will be in Berlin, Germany.
Delegates can expect a well-versed view of market research and insights. Listen to big brands such as Johnson & Johnson, Mcdonald’s, PepsiCo, Microsoft, BCC, and Danone and many more speak about their challenges and how they overcome bigdata madness. From injecting emotion into marketing campaigns, to using a tracking system to drive Christmas sales and many more. Discover hot issues faced by insights agencies and clients from all over the world and how to go about them. What Is the future of market research? Is it qualitative or quantitative, or both? After all, determining which questions to ask is sometimes as equal as the questions being asked.
In addition, attending the largest event in market research also means you get to network with insight, data, and market research professionals from many different industries. Discuss important topics such as what are the professional qualifications and soft skills market researchers and insight professionals should have? What about the direction that the industry is heading? These are just a few of the essential questions answered at Congress. Learn about the newest technologies in market research and tech trends. Listen to inspiring stories, like how LVMH can profile the personalities of the customers based on who they’re friended with, to how PepsiCo utilises analytics tools to maximise function in insights..
Last but not least, if you’re going to play the game of big data learn all the rules! Don’t let GDPR fines get to you. Learn about data privacy and issues in big data from industry experts, and take home valuable insights that you can’t afford to miss. Big data and analytics are useful, but perhaps, knowing what and how to ask is more useful than the questions itself.