Do you feel like you’re being watched? Well, you are. In today’s digital proliferation, companies are becoming smarter in the way they research and understand their consumers. Notably, we can see this online, while surfing, shopping, networking, or just emailing. Have you noticed how the advertisements that pop-up seem to match your interests? Just how did Amazon know I would buy the next Nora Roberts novel?
The answer lies in IT, and the development of Big Data analytics. IT was often times considered a money pit, constantly pulling resources from other parts of (your?) business. Data analytics have transformed IT into an integral part of marketing and business development. Gone are the days of mass emails and blanket marketing. Companies are now able to collect HUGE amounts of data on their customers’ hobbies, interests, personalities and perhaps most importantly, their buying trends. The data enables highly specialized marketing campaigns, reduced costs and increased ROI of marketing blitzes.
So, as a consumer, should we be afraid of “big brother” watching our buying trends and knowing when and how we are going to purchase? Personally, I like the new model. I enjoy only receiving commercials on Hulu that I want to watch and getting coupons at the grocery store for products I was planning on buying anyways. With the proliferation of data analytics and the migration to a digital world, we can only expect our world to become more customized.