Benefits and Challenges of using Customer Data for Marketing

The biggest challenge that was being faced by the marketers about big data was the most technical which can be associated with the considerable velocity of the data associated. The underlying issue that rose was the massive volume of data that is to be segregated for the inferential statistics of the data provided (Mitić, 2019). Some of the challenges that were being faced by data analytics are as mentioned below:

Dealing with massive intensity of data:

The most common problem that is being faced by the data analytics industry is to analyze the data that comes with huge volume.  It is necessary to segregate the data into structured and unstructured so that the data can be controlled

Storing of data

Most of the organizations intentionally don't want to save the enormous volume of data that is being collected. The main issue behind this is that they want to use that for achieving business goals. Adoption of proper strategies would help the business concerns to make the business targets and would also help to cut down the expenses that are associated with the operational costs. Further proper use of data analytics and storing of relevant data would also help to create a new avenue for business organizations.

Recruitment

In order to manage a massive volume of data, it is very much essential to recruit professionals who have relevant knowledge in the expertise field of study. In order to cope up with the challenges, the organizations must look into improving the budget estimates that are needed to expand more opportunities among the existing levels of technologies and capabilities. It is needed to understand what is the main key driver to the big data goals that are required.

Securing Big Data

Security is a fact of concern for some other organizations. If the data that is being collected is not acquired on a daily basis, then it can lead to threats that would be associated.

Reference List

Journals

Mitić, V., 2019. Benefits of Artificial Intelligence and Machine Learning in Marketing. In Sinteza 2019-International Scientific Conference on Information Technology and Data Related Research (pp. 472-477). Singidunum University.

Saeed, A.A.A.S., Arous, S.A.E.H. and Ahmed, G.N., 2018. Using of Electronic Marketing Channels in Building Customer Loyalty in Hotels. Journal of the Faculty of Tourism and Hotels-University of Sadat City Vol, 2(1).

Stone, M., Woodcock, N., Ekinci, Y., Aravopoulou, E. and Parnell, B., 2019. SCHEMA: Information on marketing and customer engagement performance–reality versus dreams. The Bottom Line, 32(1), pp.98-116.

Zhang, N., Yang, P., Ren, J., Chen, D., Yu, L. and Shen, X., 2018. Synergy of big data and 5g wireless networks: opportunities, approaches, and challenges. IEEE Wireless Communications, 25(1), pp.12-18.