But what is “big data,” how is it used, and is it something akin to “Big Brother” that we should fear or embrace?
Big data is the term used to explain the massive aggregated data collected about us whenever we make purchases, visit websites or use social media tools. It tracks our behavior and ultimately looks to create personalized customer experiences tied more directly to our likes and dislikes or to send us information related to causes or news most relevant to us.
We often hear through the media and online about the impact of this new wealth of information on consumer buying habits and our everyday decision-making. Everyone involved in branding, marketing, sales, advertising and social media are finding new ways to channel this data into what they believe to be meaningful more targeted outreach to their key audiences.
Some people, notably older consumers, feel that big data is like Big Brother and that we should not open a Web page only to find targeted ads tied to products we’re likely to use based on visits to other websites or social media conversations.
Yet a global study released last week by SDL, noted that the Millennial generation (Gen Yers) are increasingly aware of this data being collected by brands and most have no fear of it being used. In fact, they value these more targeted experiences.
So what is your feeling about “big data?” Do you like more directed outreach by brands, companies and organizations based on your preferences, or do you believe that data collection now goes too far in collecting and tracking your habits?
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