“Without big data, you are blind and deaf and in the middle of a freeway.”
More and more businesses have relied on Big Data nowadays. Some marketers claimed that Big Data is the “new phrenology” because with the help of Big Data, businesses will possess the ability of revealing consumer behavior as if they had the “God’s Eyes”. Therefore, when creating campaigns, organizations are able to engage more audience and make more accurate, efficient, and intelligent decisions.
If these examples are still not convincing enough, Netflix’s case will show you how powerful Big Data is.
According to The Atlantic, Netflix possesses not several hundred genres, or even several thousand, but 76,897 unique ways to describe types of movies. By analyzing these millions of valuable data (users viewing habits), Netflix is able to decide what types of shows they are going to license. Even though the data can’t tell them how to make a TV show, it can tell them what they should be making.
Does it mean that they are making shows based on Big Data?
For instance, they had already known that a large number of people would like to watch a show like House of Cards before they created it. With Big Data, Netflix knows your preference for movies.
“Data is the new science. Big Data holds the answers.” – Pat Gelsinger
However, everything is a double-edged sword.
According to Eric Siegel’s estimate, we are adding 2.5 quintillion bytes of data every single day. It seems that it’s good news for having more data, and yet, these huge volumes of data can also cause privacy issues. For example, if user databases are used inappropriately, companies may easily reveal users’ personal information without notifying them. Additionally, once you post a picture on social media or send a message to your friends, they will probably exist forever, no matter you delete the texts or your account.
Isn’t it scary?
Another drawback of Big data is its limitations: Big data analytics are not 100% accurate.
Despite the fact that a business has the most professional Data analytics programmers and researchers, they might still come up with inaccurate statistics if the data they have received is incomplete. Thus, when the company is making decisions based on inaccurate data, it will not only ruin the campaign that is based on the data analysis, but also affect other data results.
Big Data is a tool that can help business to make marketing decisions, but we should never rely on it without using human thought and intuition.
Big Data and creative thinking are both important; they cannot live without one another.
Photography/ Netflix, GooglePlay, MERL,Visual.ly