Shelly Palmer

Are Companies Really Ready for Big Data?

At RBM we’ve always believed there is magic in the data. Companies that have dominated the online space – Google, Facebook, Amazon, Yelp – are successful because they realize that through data lies the pathway to better digital interaction. Many experts now predict that the proliferation of Big Data will eventually create the opportunities that will get our stagnant global economy moving again.

Think about it. One day, with the help of Big Data, marketers could create an online brand experience that is so personable, seamless and non-invasive that customers prefer it to visiting a brick-and-mortar location. You will be able to know your online customer better than if they were sitting across from you.

The problem is that from long-tail keywords and cookie analysis to social listening and mobile geo-targeting, the data sets get bigger and bigger each day. The amount of data flying through the internet is so huge that the Obama administration is investing millions in fiber-optics technology that Jeremy Rifkin says will act as the “powerful new infrastructure for a Third Industrial Revolution.” (Rifkin, 9/25/2011)

So what are you doing about it? Does your company have the tools to collect and interpret the rising tide of insights? Can you adequately collect, interpret and act on trends fast enough to beat the competition? If you answered no, you’re not alone. A study conducted by IBM revealed that 71% of CMOs do not feel adequately prepared for the coming data explosion. (Dawson, 10/25/2011).

Thankfully our clients hire us to geek-out on such issues so they can sleep easier at night. Here’s a list of four suggestions for the CMO who wants to stay on top of Big Data in 2012.

If you’re as excited for Big Data as we are, be sure to follow RBM on Twitter @RedBricksMedia for the latest updates and info.