Tuesday, April 23, 2013

Reflections on a Journey to the Land of Big Data Analytics

One of the new buzzwords in both marketing and technology is “Big Data Analytics”.  To better understand the new technologies and marketing techniques I attended the first American Marketing Associations conference on Big Data Analytics, “Analytics with Purpose; The Human Edge of Big Data” held March 4th and 5th in San Diego. Reflecting on the conference, it’s clear that technology is providing the marketing function with a set of capabilities that is transforming the marketing role. Technology has done this in other industries and functional areas over the last 50 years: Airline reservation systems changed the way the airline industry managed travel reservations and made it possible for airlines to process millions of reservations in a cost effective way. Computer aided design systems have dramatically increased the productivity of engineering design while improving overall product quality. Material Requirements planning systems changed the way manufacturing companies planned, procured and produced products. Now it’s marketing’s turn , and early adopters are utilizing the power of analytics to improve linkages with customers, identify new opportunities and increase sales. However, the new analytic technologies are complex and require a great deal of expertise of effectively implement and manage. But, they will undoubtedly become easier to use. For example, analytics in the cloud is already a reality.  For the full report on the conference, check out my blog post at the Tucson AMA Blog at http://tucsonama.com/blog/.  For marketers, and IT professionals, hang on, it’s going to be an exciting and interesting ride.