Those that are ahead of the game are learning how to use what known as “big data” to answer questions like:

1. How do we segment our customer by interest rather than just by action?
2. Precisely how effective is our blog, social media and our customer service?
3. What’s the combined CTR and conversion rate across platforms?

So, what is “big data” and what does it mean for traditional marketers?

It’s an all-encompassing term for large complex collections of data sets difficult to process using traditional data processing applications.

The trend to “big” data sets is due to being able to spot business and consumer trends in a single place, rather than to attempting to analyse smaller, disparate lots of information spread across platforms.

The challenges faced by companies collecting big data include the ability to capture, curate, search, analyze, share, store, transfer, visualize, and secure it. In order to truly take advantage of big data, we’ve taken a look at some fundamental changes that are required for an organisation’s marketing people, processes and systems (and sooner rather than later if they’ve asked Santa for record Boxing Day sales this year).

Adopt a Growth Hacker mindset
The worlds of creativity and analysis are merging for the role of the marketer. Gone are the days of scotch at 9 am, expensive product launches, non-quantifiable billboards and jingly radio ads. Now we have data, and as Ryan Holiday author of Trust Me I’m Lying – Confessions of a Media Manipulator puts it, “the tools of the internet and social media have made it possible to track, test, iterate, and improve marketing to the point where these enormous gambles are not only unnecessary, but insanely counterproductive.” No disrespect to Donald Draper but blogs, emails, pay-per-click ads and platform API’s are the new tools of the game.

Simplify your reporting
Attempting to analyse data from separate systems, spreadsheets and applications is not only expensive and time-consuming it’s also unnecessary with the latest in intuitive reporting platforms. By upgrading to a system like Domo, companies can digest their data on a dashboard arranged in a way that addresses core objectives and understand consumer behavioural patterns in one place. Marketers are able to access the right data at the right time for faster and better decision making. Now, everybody close your 15 browser tabs and say “aaaah”.

Follow the leaders
With the new tools of the trade and in depth data reporting, marketers are equipped to get creative again and do something meaningful with their new insights. For instance, more and more Australian online stores have started to align with each other and the rest of the world by taking part in online, cross-border shopping “events” such as Black Friday and Cyber Monday. The tools of choice, increased rotation of email newsletters and strategic discounting, which we can look forward to continuing throughout the festive season.

Overseas, Target’s physical stores have even been using a mobile app to assist customers to find what they’re looking for in-store, tracking their path and using the data for improved floor planning and product placement.

So no matter whether you’re Christmas shopping from the couch or at Westfield this Christmas, more and more retailers are watching and tracking our behaviour and spending, with improvements in the customer experience bound to follow.