Using Data-Driven Approach to Anticipate Buyers Behavior

In order to build a successful marketing campaign in these days of IOT, data-driven approach is absolutely too important to be ignored. The only twist is that based on the large amounts of data available and the technologies required to analyze them, the job can be overly intimidating. According to reports, data is growing faster than ever before and by the year 2020, about 1.7 megabytes of new information will be created every second for every human being on the planet. But rather, unfortunately, less than 0.5 percent of all data is analyzed and used. Consumers are very much aware of the fact that marketers have access to an avalanche of information about them and have decided not to take matters lying low, they are researching the market landscape like never before. The scenario can be likened to what is good for the geese is good for the gander. This has incidentally made the path-to-purchase journey more complex as consumers have evolved more ways to research before they buy than ever before. Marketers, therefore, need to base their campaigns more on a data-driven approach than ever before. According to KPMG’s 2017 study “The Truth About Online Consumers, there are four…

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