Journal of Hotel and Business Management
Open Access

Abstract

Big Data and Transformation of Marketing

Joffy Johnson

Marketing has evolved much during the last few decades. The newest trend is Big Data. Advancements in Big Data have started paving way for the transformation of Marketing. The immense potential of Big Data can be exploited in a way that would make the marketing more effective. The data driven marketing significantly improves the sales figures of the organization than best practice marketing strategies. The focal point of Big Data is consumer analytics. Innovation of Technology helps to capture the rich and plentiful data on customer phenomena continuously. Consequently, unprecedented volume, speed, and assortment of primary data, Big Data, are accessible from singular customers. To better comprehend the effect of Big Data on different marketing activities, empowering firms to more readily exploit its advantages, a reasonable structure that expands on asset-based hypothesis is proposed. Three assets—physical, human, and organizational capital—moderate the following: (1) the way toward gathering and putting away proof of buyer action as Big Data, (2) the way toward removing purchaser knowledge from Big Data, and (3) the way toward using shopper understanding to improve dynamic/versatile capacities. To take advantage of big data, marketing will need to embrace disciplines such as data science, machine learning, text-processing, audio-processing, and video-processing.

Published Date: 2020-12-23; Received Date: 2020-12-07