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Data and analysis: the black gold of the twenty-first century

Surely, big data is not necessarily synonymous with good data. Marketing professionals struggle with a multitude of data from different sources, which is both uneven and often not conforming to one another.

 

In the vast majority of cases, the issue is not with the “black gold”, but rather the extraction of value from the data– in other words, certain principles that help in making the right and most feasible decisions.

 

Marketers often have to deal with far more complicated analyses as data scientists tend to, which is very demanding. As a result, they find themselves thrust into a labyrinth of complex and unforeseen procedures.

 

We will try together with our partner Dialogica, to simplify matters – in our blog’s article we will start from real case studies obtained from our Shopper Reality Mining Service, using new technologies to understand consumers, shoppers, their behaviour and both their offline and online shopping preferences. Less theory and more daily life: we will see some data, some analyses and we will discover how to extract the “essence”.

 

In marketing theory and literature, we find a “real black hole” that has been barely explored: “the last second”, that is, when the consumer is in front of a product to buy it. What happens? What pushes him/her to buy? What is the relationship between stimuli (e.g. advertising, price discounts) and the purchasing decision? What determines the exchange?

 

It will be the focus point of our interventions: simplicity and pragmatism – that is, what does one have to do for their product to be bought?

 

A preview of future topics:

How many shoppers actually buy my product?

Are we all connected? What about the real world?

Attention time: marketing budget fire in 4 seconds.

How can potential buyers change to current buyers?

Women and men: how do buying behaviours change?

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