The newest asset of online marketers - 'Big Data'

“Data is a new class of economic asset, like currency or gold”

                                - Big Data, Big Impact (World Economic Forum, 2012)

Internet marketing is evolving with each passing day and new channels of online marketing are presenting new opportunities to businesses. Consequently there has been a surge of data related to different aspects of online marketing and studying and analyzing such data have become (and if not, should definitely be!) an integral part of the marketing strategies of businesses.

As this article points out that to be a successful online marketer, one should have a “dual view of the online landscape”. One is the Channel view (analyzing data on say conversion rates, click through curves etc., the marketer can seek answer to “What is and is not working in each channel of online marketing?”) and the other being the Cross-Channel view (“spans the length and breadth of the online marketer’s channels” using in-depth data from various channels). The article then goes on to explain that how continuous changes in the online world, such as new search engines (Bing etc.), growing digital assets and much more has resulted in increased data in the hands of marketing professionals.

Finally, the article emphasizes on how the access to such large volumes of data helps an online marketer to understand actual user behavior and thus  leads to formulation of effective marketing strategies with a more holistic approach.