At CaptainDash we have come to a stellar conclusion: big data is even more impactful to the marketing revolution than the arrival of the Internet. This revolution we speak of is not a Leninist one, where one system is simply replaced by another. No, this is a genuine revolution- a Copernican revolution- where a radical change of direction occurs. As this trend starts there is a total rupture of one's perspective. Let me explain.
Over the decades, we developed theories and concepts to try and best understand a market segment. We sought to detect markets with distinct structures, behaviors and homogeneous tendencies so we computed averages, derived standard deviations, and calculated other factors. Using this information, we identified the ideal customer profile- our target. The idea behind this was that in order to be successful and hold an advantage on competitors we needed to know groups of consumers who would respond collectively to the same stimuli. We we’re so concerned with the soft statistics because that was the only option we had to analyze the market.
But then, the revolution came.
With big data we finally have a technology that allows us not to think about an average, but of series’ of events that impact a purchasing decision. By parallelizing the calculations we can know exactly what a customer desires regardless of our location. For example, we could know that a certain individual wants a bottle of wine at a grocery store from our CaptainDash headquarters, rather than analyzing customers similar to this individual to see purchasing tendencies as was the case in the past.
By synchronizing tons of data we can understand customers’ behaviors even better. This data includes exogenous factors like the weather for the day, traffic conditions and the results of football as well as internal factors- the price of the product, what other products are being purchased, how many people a customer is with, and tweets or other feedback they’ve received. When we stack this data thanks to cloud capabilities, we can store the millions of different possible outcomes for each situation. Finally, through the magic of algorithms we will know exactly what event chains will push that individual to buy this product.
We can pre-identify events, in real life, that will impact purchasing decisions. Eventually this technology will allow us to anticipate events, fully customizing to a customer’s desires. For example we will know that the yogurt at a store is going to run out and stock it before an individual comes to buy some.
This new technology of big data has such great incentives and should continue to grow as time progresses. Here at CaptainDash we look forward to seeing it grow and become an everyday gadget for all businesses!
Your masked marketer,