Times have changed. It will only hurt the business now if information is collected without a meaningful reason. Too much or too little information will hurt you. Very often, businesses collect information for almost everything and anything just like the illustration above.
But now, as data gets larger and larger, it is not feasible to do this anymore! We may have cloud to help us store the data, but we can't continue like that. Not only does it cost to store, organise and analyse the data, it may lead to confusion! Having a vast amount of information is beneficial, but the "vast" has an end to it. Marketers need to focus on conveying the right message to the right audience using the right medium, and at the right time. So if there is an overwhelming amount of information, regardless of its usefulness, everyone suffers. Marketers may use the wrong information, audiences get confused, and everything goes wrong.
So the key is to stay focus and plan. Develop your marketing plan according to who you are targeting. Then you will know what information is relevant for you to effectively position the brand. Never forget the importance of brand equity, and that everything you do contributes to that.
If you provide an expertise in data analysis and is keen to meet over 400 senior business leaders to give them advice on how to manage their data, do not miss the opportunity to showcase your leading offerings to them at Asia's leading big data event this September – Big Data World Asia 2013. Contact Carrie now at email@example.com for sponsorship and exhibition opportunities!