In today's era of digital transformation, Big Data has become an indispensable tool for businesses, including in the context of marketing research. The use of vast amounts of data opens new possibilities for analyzing and understanding consumer behaviors. In this article, we will focus on this powerful connection, considering data analysis, statistical methods, publicly available statistical data, and desk research.
Data analysis: Key value of Big Data in marketing
Data analysis is the foundation of efficient marketing research based on Big Data. Large amounts of information, such as transactional data, online behaviors, or customer preferences, enable the precise identification of trends and patterns. Predictive analyses based on Big Data allow companies to predict consumer behaviors, which is invaluable when creating personalized marketing strategies.
Statistical methods: Precise insights from Big Data
Big Data without effective statistical methods can be like a labyrinth of information. Hence the need to apply advanced statistical tools to extract valuable insights. Methods such as regression analysis or machine learning algorithms are used to identify correlations and forecast future trends, enabling companies to make more thoughtful marketing decisions.
See: Techniques and tools in marketing research
Publicly available statistical data: Context for Big Data
Big Data does not operate in isolation, and the integration of publicly available statistical data provides context for analyses. Combining a company's own data with publicly available information, such as demographic or economic data, allows for a fuller understanding of the market and customers. This combination provides a more comprehensive perspective, supporting marketing strategies.
Desk research: Big Data in light of existing knowledge
Desk research, or the analysis of existing data, becomes a significant element of using Big Data in marketing research. Analyzing data gathered from the internet, online opinions, or product reviews in the context of existing corporate knowledge allows for a better understanding of the market. Desk research acts as a filter for Big Data, eliminating unnecessary information and focusing attention on key areas.
- Desk Research is a somewhat underrated stage of analysis. In today's world, where the plethora of information can be overwhelming, finding the relevant ones is not easy or quick. We often have to sift through a lot of irrelevant data and then sort out the ones that are important to the purpose of the study. Only then can we get on with the actual analysis - explains Dr Monika Jaremków - R&D Director at the Biostat Research and Development Centre.
Summary: Big Data as a driving force in marketing research
In summary, Big Data and marketing research create a powerful connection that revolutionizes how companies understand their business environment. Data analysis, the use of statistical methods, the utilization of publicly available statistical data, and desk research are key elements of this connection. Thanks to Big Data, companies can create more effective marketing strategies, precisely identify target groups, and adjust their actions to changing market needs. It is not just a tool but a true driving force for today's marketing.
