You probably know about big data. It has been heralded as a game-changing tool and has already transformed many aspects of many industries. According to Forbes, big data is a collection of data from traditional and digital sources inside and outside your company that represents a source for ongoing discovery and analysis. There are different types of big data and it’s not just the realms of the digital world that count – offline interactions happening in large volumes also count. Forbes splits the field into 2 major areas – unstructured and multi-structured data. The former cannot easily be organized or interpreted by algorithms or databases (think social media posts), and the latter refers to interactions between people and machines (a wide range of interactions including web apps and social networks). But what does all this mean for advertising?
With more data at our disposal and better ways of storing and analyzing what we have, big data looks set to be a game changer for advertising. So what is changing? Well it’s not necessarily how we advertise that will change, but rather the insights informing advertising decisions will be stronger and smarter. Big data can help us get better at understanding customers. This means better honing messages with predictive analytics and gaining new insights on the way customers interact with advertising. Big data isn’t the next generation of advertising, but rather a tool that can help us do things better.
Algorithms over advertising
With big data, advertising might not always look like advertising. Take the example of Netflix. They don’t advertise but they do use their continuous stream of viewer data to create algorithms that optimize viewing. Rather than using insights to create better popups and messaging, insights can actually be used to create a better and more personalized products that reduce churn rate and make sure each customer sees the product or service that is right for them. This kind of algorithm tailoring is not just limited to video content streaming services – in theory, it could work for any product or service with the ability to monitor a high number of user interactions.
Learning more about user behavior
Big data provides the key to better understanding our customers. But on its own it is not enough. Insights alone won’t get us anywhere – we also need to know how to make those insights actionable. Clearly, it’s not possible for every business in the world to analyze and take action on all big data insights in-house. But one great way to gain the most from user data is to use advertising services that can do the hard work for us. Think of an advertising platform that gathers user data and utilizes insights to market the right products at the right time. If a user loves a sports brand but hates another, focused insights will create native advertising that delivers information on the right sports brand at the right time. With comments and reviews platforms capable of gathering and analyzing vast quantities of data, the future of advertising looks less like spammy one-size-fits-all solutions and more like focused data on the things we actually care about.
Heyoya is a game-changing comments and reviews platform that brings voice to e-publishers and e-stores, improving sales and user engagement by allowing readers to express themselves beyond the medium of text. Heyoya’s new Receiver plan allows for quick and easy below-the-fold monetization through native advertising. Heyoya is a game changer for websites and is proven to increase brand affinity and the quality of user-generated content.
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