Focusing on Small Data to drive big results

Nick Necsulescu

Applied Marketing Analytics: The Peer-Reviewed Journal, 2016, vol. 2, issue 4, 296-303

Abstract: Big Data has become ubiquitous and making sense of it is getting increasingly complex and, as a result, more costly. Although organisations continue to make strides towards a robust integration of structured and unstructured data types, the opportunity to leverage small-scale data to enable key business decisions, remains considerable. There are many ways in which organisations, especially small and mid-size, can be data-driven, and still make effective decisions at a low cost. This paper explores the benefits of creating ad-hoc analyses and insights through the utilisation of small-scale, standalone and third-party sources of data, namely, Small Data. Numerous case studies will be presented, including media mix studies, customer segmentation and event-based marketing, with each having three characteristics in common: high business impact, increased speed to decision and cost savings.

Keywords: Small Data; third-party data; 4Rs; event-based marketing; needs-based segmentation; media mix; purchase path; cost-savings (search for similar items in EconPapers)
JEL-codes: M3 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:aza:ama000:y:2016:v:2:i:4:p:296-303

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