Integrating Big Data analysis into your marketing databases is essential for future growth. Experts predict that global Big Data analysis’s market value will reach $155.13 billion USD by 2028.
Increased digital interaction via smartphones and other devices generates enormous amounts of data. In turn, companies are now using Big Data analysis to manage this information. Many businesses use database platforms to organize Big Data and create marketing strategies. Keep reading to learn about Big Data analysis and its integration into databases.
What is Big Data analysis?
Big Data analytics or analysis (BDA) describes a method of extracting useful information. This includes customer preferences, hidden patterns, market trends, and new correlations. Businesses use these insights to improve decision-making and fight against fraud.
These solutions aren’t only for global enterprises. Small and medium-sized enterprises (SMEs) can also gain insights from BDA.
Businesses are beginning to adopt a wider variety of tools. This includes stream processing, data science, and analytic applications. These changes have fueled the BDA market growth.
BDA benefits for SMEs
Today’s BDA platforms offer many benefits for global corporations and SMEs. This includes the following:
- access to real-time data and monitoring;
- descriptive, calculated, and industry-specific customer data;
- information extraction and analysis using different toolsets;
- platform personalization to meet your business needs.
The goal is to help you understand what your customers want. This allows you to develop a proactive marketing strategy.
Big Data integration
Managing and integrating large data sets presents significant challenges. Many businesses worry about the following problems:
- availability of individuals with the needed skillset;
- discovering meaningful information;
- managing the large data sets;
- reliability of the data;
- syncing the data across different sources.
The first step is to outline the organization’s needs and goals. The next step involves segmenting the data into categories that generate valuable insights.
Integration of Big Data requires the combination of data from several different sources. This includes social media, the Internet of Things (IoT), data streams, and transactional data.
Powerful analysis tools are of no use without reliable data integration. Without the proper control and security, the analytics are flawed from the start.
How does Big Data analysis impact B2B databases
Experts estimate that each person will generate 1.7 megabytes of data every second in 2021. They also report that this rate will continue to increase. This IS Big Data.
Without integration into a useable format, businesses miss out on valuable insights. Thus, you need meaningful, high-quality fields in your database to manage BDA. These fields must also integrate data in an accurate and complete manner.
An optimized BDA database platform provides the following benefits for your company.
Increased customer satisfaction
Building a customer-centric BDA solution allows your business to anticipate customer needs. It helps improve your customer satisfaction by making the customer feel understood. You’re able to provide the products or services the customer is looking for at the right time.
An example of high-level customer service involves embedding sensors in the product. These sensors alert customers when the item needs proactive or preventative service. This increases product life and reduces malfunctions.
Improved segmentation of data
BDA platforms help businesses with large amounts of customer data organize the information. If the company collects data on different platforms, the first step is to clean and merge the data. It’s then analyzed and placed into estimated missing cells.
Next, various statistics allow segmenting of the data. The goal is to tailor customer marketing communication based on the audience.
Improved decision making
BDA doesn’t only look at customer modeling data. It also includes current market or business trends or performance.
For example, it can help predict product or service demands and profitability. This allows companies to create efficient plans for supply management and manufacturing.
Integrating BDA boosts opportunities for strategic alignment by using consistent knowledge collection. If a rival has plans to launch a competitive product, the BDA lets you take defensive actions. This is also important when looking at acquisitions and mergers.
These tools also allow you to track your return on investment and find new target markets. Improved strategic marketing generates more leads and increased deal closure rates.
EasyBusiness by Kompass
EasyBusiness is an advanced global prospecting solution. It improves the identification of new prospects, generates leads, and engages the target. This platform meets your marketing, business development, sales, and procurement department needs.
Your business can access this renowned B2B solution worldwide. Kompass updates the data for over 44 million companies on a continuous basis. Thus, you can target customers in over 70 countries in 25 different languages.
The best marketing plans revolve around reaching the right people. EasyBusiness gives you insights based on accurate data to target viable leads.
The platform employs precision filters to conduct deep-dive searches. The analysis results generate a personalized list of prospects for your business.
Sales Accelerator add-on
Kompass also offers the Sales Accelerator add-on pack. This boosts the sales and marketing teams’ efforts to find new leads and engage customers. BDA results provide customized daily alerts that track leads and watch real-time changes.
This all-in-one solution reduces stress.
Including all the needed features in one user-friendly platform makes life simpler. This allows easy analysis of your business’ customer and market portfolio. EasyBusiness generates tables and diagrams that provide a picture of your target companies and let you deep-dive them.
This solution lets you sort, enrich and export data into the file formats you use. Your employees will appreciate this smooth transition to the new system.
In a few clicks, you can contact executives and companies using the multi-contact tool. This improves your sales representatives’ targeting efficiency.
Are you ready to optimize your business’s data management?
Gaining control with Big Data analysis solutions improves your companies’ processes and profits. Kompass solutions support your business with verified, customizable data. Our up-to-date, highly structured database keeps you ahead of the competition.
Kompass has over 500 employees divided into local teams to promote customer contact. Our experts update the database regularly to ensure you have the latest information. Talk with our team today to schedule a free demo.