Vritaanta Volume 1 Issue 4

14
Paathshala
Data Management and
Analysis: A Game-Changer in
Marketing Decision-Making?
DATA COLLECTION
With everyone from wireless carriers to smartphone
applications tracking user behavior, wireless hand-held
devices are proving to be a treasure chest of customer
information and data. Organisations are constantly
looking out for new and innovative ways to link data
such as location to identify users and track behavior.
Information collected with the consent of the consumers
can help the marketers to devise their personalised
marketing activities, but data collected without the
consent of the customers can prove to be a tool of fatal
destruction in incompetent hands. Combined with other
demographic factors like one’s age or gender or sala-
How is technology revolutionising the market and how are IT and Data Analytics empowering marketing managers of
the future?
T
he common consumer is the likely witness
ry range, marketers and business analysts are
to a paradigm shift in technology. Consumer
data is shaping the way organisa-
using customer’s data to make decisions about
how to advertise.
tions position their products. It is no surprise
that data mining and data analysis are key com-
For example, when one signs up for Verizon service,
one agrees to let the company use his geographical
location, and web-browsing
ponents in judging consumer tastes and preferences.
information
for its Precision Insights Program. Verizon
segregates the data into categories after
removing any personal information and then
places the data for their customers to use. The
company offers these reports to marketers,
thereby allowing them to see what Verizon subscribers
are doing on their mobile devices, also
linking this data to other customer demographics
like gender, age, and other factors
February 2015