According to IBM, every day we create 2.5 quintillion (2.5×1018) bytes of data. Experts project the world’s data will expand 50 times in the next decade. Sounds overwhelming! How are marketers going to conquer data proliferation?
Mobile technology is contributing its fair share of data to the runaway world of Big Data. As smartphone penetration continues to grow (currently 53% of all mobile according to Nielsen), so does the amount of mobile data consumption, as users watch more video, play more games, access social networks, etc. Mobile Marketer Daily reported that mobile data traffic is currently 3.89 trillion megabytes and forecasts it will grow ten-fold to approximately 40 trillion by 2016. Please note, these numbers do not reflect the mobile data consumption of tablets. Currently there are approximately 55 million U.S. tablet users.
IBM just released the results of a worldwide study they conducted back in October and revealed that the primary Big Data objective for companies moving forward will be to employ the numerous tools at their disposal to achieve customer centricity; 49 percent to be exact. However, other studies indicated that companies were experiencing difficulty mining Big Data for consumer insight.
Here are my recommendations as it relates to working with data proliferation:
Baby Steps! Start small, think big.
1. Select a market or two.
2. Examine the different points of available data capture.
4. Summarize key learning.
5. Develop potential indicated actions.
6. Execute! Execute! Execute!
7. Repeat the above process; select a geographic region.
8. Repeat the above process; Go Global!
Are you prepared to master data proliferation?