Analysis of big data is typically a slow and lengthy process that requires a large amount of computing resources and power. Still, consumer data is important for predicting trends and helping companies see the results and outreach of their marketing campaigns. As big data becomes more popular, companies are racing to find the best way to harvest and analyze such vast and expanding amounts of consumer information.
During the Adobe Digital Marketing Summit, Adobe recently announced that its forthcoming Digital Marketing Suite would boast new predictive marketing capabilities that would make it easier to detect patterns and reoccurring behaviors present in big data. This groundbreaking news comes as a relief to market researchers that have been in dire need of a better way to filter through an abundance of data.
Brad Rencher, senior vice president of digital marketing at Adobe, stated “[…] the data is getting bigger, the details that matter are getting smaller.” Adobe’s marketing suit will help improve on existing digital marketing strategies and offer a wider range of tools to customers, including improved personalized engagement and media monetization. In addition, the predictive analytics will allow marketers to forecast campaign results with multiple ‘what-if’ scenarios and allow them to easily identify risks.
“In the early days of digital marketing, analytics emerged to tell us what happened and, as analytics got better, why it happened,” Rencher said. “Then solutions emerged to make it easier to act on data and optimize results. But the sheer amount of available data presents a challenge to quickly extract insights and act while those insights are still valuable. The new predictive capabilities within the Digital Marketing Suite address these challenges and help marketers turn big data into a big opportunity.”