Big Data is a buzzword that's been flying around the world of retail and marketing for a while now, but it's still something that many companies have failed to leverage in any meaningful way. That could all change with the next generation of TVs and electronic devices that all link back to the internet and thus to the service provider.
Devices, such as Smart TVs and tablets are becoming more prevalent in the home. Their always connected nature means that they can stream on demand services and remember key information about you to save you entering it time and time again. Because of this, viewer usage habits are easier to track than ever before.
Following in the footsteps of Tesco's Clubcard TV, BSkyB are planning to roll out an AdSmart platform that delivers different adverts to different households, allowing marketers to see viewer behaviour. Channel 4 is also following suit with a new data tool that makes use of its 6.5 million registered users.
"The more targeted you can be the better", argues KFC VP of marketing Jennelle Tilling when asked about the benefits of such a tailored advertising programme. "Because [KFC] generally run four layers of advertising at any one time, it's exciting if I can have mums seeing one ad, young adults seeing another and teens viewing another”.
This isn't the be all, end all of marketing though, some brands have lost sign of the wider market as they focus too much about collecting behavioural data.
Anatoly Roytman, EMEA managing director of Accenture Interactive, argues that CMO's roles are changing. They, alongside senior marketers, must protect the rapidly growing behavioural data sources, ensuring that the right balance is struck between traditional marketing and big data.
He even goes as far as to suggest that CMOs are no longer CMOs but instead "chief customer experience officers".
Is this how you believe Big Data should be used in the retail sector?
Perhaps you feel that Big Data is little more than a marketing term driven to the brink of existence?
Either way, let us know by leaving a comment below so we can start some discussion on the matter!
Big Data plays a huge part of Europe's Customer Festival, alongside Big Data World Mexico and Big Data World Asia, as they all look at how you can forge a path through the tricky world of data marketing.