Big Data in B2B

Marketing science spells the future of Big Data

Marketers understand the power of big data. Yet, what chief marketing officers (CMOs) do not know is how to prepare for the era of big data

They realise how profoundly the ability to collect and sift through massive torrents of data will transform their organisation’s capacity for innovation. But they do not know how to take advantage of the volume of data being generated by Facebook, Twitter, blogs comments and online shopping.


Relying on clever technology to gather and sift through information is not the answer. Big data is potent, but technology on its own cannot decide what information to collect. It cannot choose the problems it should tackle.
To make the most of big data and gain insight into questions that are crucial to companies, whether deciding what products customers will want next, or how to reach consumers on their mobile phone and they are browsing for products, marketers will need to master the skill of marketing science.
Rather than relying on instinct, and being content with treating customers as broad demographics, marketers armed with marketing science can intelligently plumb the depths of big data. Such marketers can connect with customers as individuals in what we call the ‘era of you.’

Architect data

Marketers are adept at collecting traditional data, such as clickstreams and web site traffic. But collection is not enough. In fact, according to a new IBM research, ‘Marketing Science: from predictive to descriptive’, only 28 per cent of marketers say they consistently structure information for analysis and sharing across their organizations.

By contrast, marketing scientists pull together a wider range of ‘unstructured’ data sources, including social media discussions, blogs and online reviews. They can structure and organise that information so that they can appeal to customers on a more personalised level.
For example, LabelSneak, a UK-based outlet store for men’s clothing, wanted to become smarter about understanding which items were the most popular, whether a new sneaker or a raincoat. They wanted to know what customers were saying about its latest promotions, and what circumstances led to the most effective sales. It designed a programme that helps it gain insights from social networking, such as tweets that include Instagram photos and conversations between consumers on social channels, mobile, and tablet devices. Since launching its new analytical system, revenue has grown 148 per cent.

Apply science

Marketing science involves in-depth analysis. This comes down to designing, testing and refining hypotheses. It is similar to what scientists do when they develop a new medicine, and then use those findings to create models for predicting how people will react in different situations.
Most traditional marketers, though, rely on gut instinct. In fact, less than 20 per cent regularly apply scientific approaches to their marketing research. But Big Data opens up a world of new insights based on hard data and facts. To make the most of this opportunity, marketers will need to add new scientific skills such as statistical analysis and bench marking against control groups.

Influence action

Predicting the future doesn’t mean much unless an organization can act on that information. Marketing scientists are already developing ways to use data to influence action.

They are nearly three times more likely to collaborate with the rest of the enterprise, from chief information officers to the heads of human resources. And while 82% of traditional marketers still rely on hunches, nearly half of marketing scientists have established a culture of data-driven decision making.
One example is Cemex, the world’s third largest building materials company, which wanted to tap the expertise of employees to enhance competitiveness. It created an internal social network where employees collaborate together and share. Within a year, more than 20,000 employees signed up and nine global innovation initiatives were underway, helping the company launch its first global product in record time.

Some of these skills may be new to marketing professionals. But by mastering them, CMOs will take control of Big Data. They will be able to spot deeply buried buying patterns and create new ways to connect with consumers, making marketing scientists the way of the future.

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