ANALYZING THE IMPACT OF BIG DATA ANALYTICS ON THE EFFECTIVENESS OF CUSTOMER-CENTRIC MARKETING STRATEGIES

Abstract

Marketing is changing at a rate never seen before in the digital age. Businesses can now access, analyse, and use customer data in previously unheard-of ways to better satisfy consumer needs thanks to the development and use of big data technologies. This paper's goals are to examine the relationship between marketing and big data analytics, examine how big data affects marketing, and suggest appropriate application tactics. This research paper clarifies the crucial role of big data in reducing market research time, accurate market segmentation, customised marketing strategies, and cross-selling models by discussing the definition and traits of marketing and thoroughly analysing the definition, traits, and application of big data in marketing. The impact of big data on consumer behaviour analysis and marketing strategy is examined in this research. Big data offers important insights into customer behaviour and preferences because of its volume, velocity, diversity, and authenticity. In order to optimise pricing decisions, improve customer relationship management, and create successful marketing strategies, marketers can use cutting-edge technology like machine learning and natural language processing to analyse structured and unstructured data from a variety of sources. In order to ensure maximum effect and engagement, big data is also essential for determining the target audiences for advertising initiatives. Businesses can comprehend client demands, divide audiences, forecast behaviour, and tailor marketing campaigns by examining sizable databases. Big data also helps companies comprehend the attitudes and feelings of their customers, which goes beyond forecasting and improves comprehension of their unique demands. However, in order to prevent exploitation and preserve privacy, ethical considerations must be taken into account. Success in the data-driven era can be achieved by embracing big data and utilising its potential to influence marketing in the future.