Big Data offers a multitude of opportunities to connect with customers in amazing new ways. Vast quantities of customer information are now flowing into businesses from social media, smartphones, bots, GPS devices, cameras, appliances, and satellites, and increasingly sophisticated computer algorithms are attempting to turn it all into actionable intelligence. Amid all the excitement, it should not be forgotten that few business people—even C-level executives—truly understand what a revolutionary force Big Data is, or the disruptive threat it represents for businesses of all kinds.
As every marketer knows, the era of Big Data is here, and with it comes a huge smorgasbord of opportunities to connect with customers in amazing new ways.
Everyone knows change is coming. But underestimating the speed and impact of these changes will be the downfall of many businesses large and small in the coming years.