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Poster presetation for "Using Big Data for Marketing Analytics"
1.
RESEARCH POSTER PRESENTATION
DESIGN © 2015 www.PosterPresentations.com Marketing Analytics comprises of the procedures and technologies that empower marketers to assess the success of their marketing initiatives by estimating the performances (e.g., blogging vs networking media vs channel intercoms) utilising important business measures, such as ROI, marketing standards and general marketing effectiveness. Introduction Research Question and Aims • Case study of PWC shows that Ireland’s economy is going to boost by €48 million or 11% which is a remarkable development for Ireland. • As of now, the retail sector employs 285,000 and the tax revenue generated is estimated to be over €7 billion. • In 2017, big data and business analytics was relied upon to produce 150.8 billion U.S. dollars worldwide. • In 2018, It is projected that the global big data market size is to grow to 42 billion U.S. dollars. • Big data can help improve shopping experience for consumers. Major business groups have started applying Big data to their business models. Big data helps to forecast trends, enhance warehousing and logistics, set promotional goals and customization of businesses as per the need. Big data can also help anticipate order quantity and market prediction. Justification for the research • Most decisions and planning in business are predictive and based on calculations. Due to Big data different procedures can be evaluated with prescient scientific reasoning. As of now, different apparatuses are accessible for purchaser collaborations and advertising methodologies. Every gadget outfits records that might be separated for examples of conduct that supply huge pay-outs if the enterprise counters effectively. • Marketing has always relied on statistics & predictions. Big Data in marketing analytics has potential to grow beyond what we understand, produce results in multiple dimensions than we could not even think of and can also deal with mechanical and automated data. Conventional advertising and marketing tools are becoming useless to pin factor tailor made hints for each and every client. This is where machine gaining knowledge steps in and offer customers right answers in which they may be more likely to make investments. • A 2016 report created by William Sear in relationship with Forbes Bits of knowledge as of late found that 96% of driving organizations around the globe consider Ireland to be an ideal venture area with regards to Big Data investments. • “Ireland is pushing itself in the big data stakes, as 96pc of investors surveyed by Forbes and William Fry consider Ireland as a favorable investment location.” Literature Overview Proposed Research Design Contextualization How my research adds/fits into the genre? It is because Big Data is still a new concept and gaining popularity day by day and I want to find out how big data can help in existing market analytic processes. Why my research is different? My research is different because I intend to find out how Irish retail market can benefit from market analytics using Big data. Research Strategy • My research approach would be mainly based on qualitative method and would require me to interact with executives on 1 to 1 basis through interviews. These persons would be working in relative fields. Research Limitation • Big Data is a new concept. Technologists are still getting used to it. Research for scopes of Big Data is still being carried out. • Existing research on Big data and its implication on market analytics specially the targeted retail sector is limited. I will try implicating traditional methods of marketing analytics that have been successful earlier and come up with a solution that can overcome above limitations. References To determine how Marketing Analytics benefits from Big Data and its implications on Retail Sector in Ireland. Marketing analytics using Big Data is popularising at pace, the objective is to see how Big Data and marketing analytics go hand in hand and their effect on retail sector in Ireland. The research would likewise be aimed to see how market analytics is beneficial to retail industry, how organisations can release most extreme benefits by focusing on the right portions and proper apparatuses these innovations are giving to make a smarter business condition. MBA-Marketing Touseef Ahmed (10375436) Using Big Data for Marketing Analytics •SAS, Marketing Analytics. [Online] Available at: https://www.sas.com/en_ie/insights/marketing/marketing-analytics.html •MarTech, ‘What is Predictive Marketing?’, KARR, 2015, [Online] Available at: https://martech.zone/what-is-predictive-marketing/ •Analytics, ‘Game Changer: Big data in marketing analytics’, Ghosh, 2015. Available at: http://analytics-magazine.org/game-changer-big-data-in- marketing-analytics/ •Statista, ‘Revenue from big data and business analytics worldwide from 2015 to 2020’, Online. Available at: https://www.statista.com/statistics/551501/worldwide-big-data-business- analytics-revenue/ •Retail Ireland, ‘Retail at a glance’, IBEC, 2017. [Online] Available at: http://www.retailireland.ie/Sectors/RI/RI.nsf/vPages/Retail_in_Ireland~ret ail-at-a-glance?OpenDocument •PWC, ‘The economic impact of artificial intelligence on Ireland’s economy’, 2017. [Online] Available at: https://www.pwc.ie/publications/2017/economic-impact-of-artificial- intelligence-ireland-economy-report.pdf •Mckinsey, ‘ARTIFICIAL INTELLIGENCE THE NEXT DIGITAL FRONTIER?’, 2017. [Online] Available at: https://www.mckinsey.com/~/media/McKinsey/Industries/Advanced%20El ectronics/Our%20Insights/How%20artificial%20intelligence%20can%20deli ver%20real%20value%20to%20companies/MGI-Artificial-Intelligence- Discussion-paper.ashx •Element61, ‘Marketing, a front-runner in the adoption of data & analytics?’, Vurst, 2017. [Online] Available at: http://www.element61.be/en/resource/role-predictive-analytics-digital- marketing •Silicon Republic, ‘Big data country: Ireland among top European locations for investment’, Kennedy, 2016 [Online]. available at: https://www.siliconrepublic.com/enterprise/big-data-country-ireland- forbes-william-fry RTE, ‘Ireland Is Paving Its Way To A Thriving Data-Driven Economy’, Online. Available at: https://www.rte.ie/eile/tech/2017/0519/876496-ireland-is- paving-its-way-to-a-thriving-data-driven-economy/
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