Our hyper-digital world has placed data at the center of businesses across all industries. Using data-driven insights can elevate a company’s marketing efforts in order to provide better personalization, increase sales, and more. In what follows we discuss what smart data is, its benefits, and the industries that are using it to strengthen their products.
What is smart data?
While smart data tends to be mentioned in the same context as big data, the two aren’t synonymous. Big data is a collection of data that is vast in volume, acquired rapidly, and continues to grow exponentially over time. However, not all of that data is useful to a company as it might contain information or metadata with little to no value. This is where smart enters the equation. Smart data filters out the valueless information to retain what can be contextualized and effectively used to generate insights or solve problems. Nowadays, streaming analytics (also known as smart data analytics programming), monitors data at the source, captures it, assesses it, makes a decision, and generates an output—all within seconds.
What are the benefits of smart data for marketing operations?
Smart data provides valuable insights into how consumers engage with a business or product. What a consumer does across a website, mobile app, or chatbot reveals a lot about their wants, interests, purchasing habits, and even who they are—their age, gender, background, location, education level, and much more.
In turn, marketers can use this data to create more relevant marketing campaigns tailored to their customers or potential customers’ interests and consumer profiles. Ad copy, landing pages, and email campaigns can all be refined to target specific demographics.
Digital marketing research estimates that the average person is exposed to 4,000 to 10,000 ads each day from a variety of sources, including offline marketing, social media marketing, and apps and websites with a heavy ad presence. Because of the market’s saturation and abundant competition, businesses can benefit most by crafting messages that will connect with consumers and propose solutions tailored to their specific needs.
Smart data also facilitates more efficient management of a marketing budget by revealing which campaigns and channels are most effective. A brand targeting a certain demographic might get fewer clicks on Twitter than on TikTok. Using these insights, a marketer can allocate more budget to the TikTok strategy or exclusively focus on that platform.
Overall, an effective, data-driven marketing campaign can lead to more conversions that will, ultimately, translate into more sales.
Industries benefiting from smart data
Online retailers such as Amazon collect and analyze a high amount of data from their users, including their browsing activity, order history, wish lists, profile information, search queries, and reviews. This is used to generate product recommendations based on predictive analytics.
Entertainment companies like Netflix, Hulu, and Disney Plus, rely heavily on big and smart data to create personalized content recommendations. Netflix, the pioneer streaming service, collects data all the time, tracking when a user pauses content, resumes, or abandons it altogether. It records how much time the users spend watching a particular series and if they managed to watch until the end.
Notably, big data helped the streaming giant make their original series, House of Cards, a tremendous success. The series was a remake of a British production of the same name. Using big and smart data, Netflix identified that the British House of Cards was watched by many subscribers, who tended to favor movies starring Kevin Spacey. This was instrumental in the casting of the actor for House of Cards’ main role and for the show’s popularity.
The iGaming industry is yet another digitally-driven sector leveraging the power of data for its marketing efforts. Nowadays, there are thousands of online platforms offering extensive catalogs of games, including roulette, blackjack, or pokies that can be accessed through a computer or mobile phone as listed here: https://www.australiainternetpokies.com/mobile-pok.
Whenever a user logs in at an online casino and plays one of the aforementioned games, the site gathers a myriad of data, including the games they play, how long they play, at what time they normally play, how much they wager, bonus offers that hook them, how they navigate the site and more. This can help providers target users with offers and games that will most suit their interests.
The bottom line
Smart data is a technological innovation that can advance a company’s marketing efforts and generate more revenue. Retail companies, streaming services, and iGaming platforms are using smart data to provide more personalized content and make successful business decisions.
