RSS feed Get our RSS feed

News by Topic

BizReport : Ecommerce archives : September 17, 2013

Few UK marketers confident handling 'big data'

How confident are UK marketers with handling 'big data'? Not very, according to a new survey by GfK for the Guardian Media Network, and those using big data still have work to do to convince consumers of its benefits.

by Helen Leggatt

In a survey of 157 UK marketers and 1,011 UK consumers, most marketers were well aware that big data is changing the way marketing is done, and almost two-thirds (62%) said their marketing role has already evolved as a result.

However, despite the realization of the power of big data to develop personalized, targeted campaigns, just 30% feel they currently possess the skills necessary to best utilize the plethora of data available to them to best effect.

According to The Drum, where the results were first reported, one respondent to the survey observed, "How many marketers currently even know what an algorithm is - let alone how it can determine product development, placement, price etc?"

On the flip side, among the consumers surveyed there is vagueness surrounding the use of big data. While many are aware that data they provided was used to target them, just 47% were aware of what data was being collected. The majority (81%) believe data they provide is being shared or sold on to third parties.

While marketers need to better understand how to use big data, they also need to realize that appearing to really know and understand a customer can be off-putting. While a third (34%) of consumers in the survey said they were "happy" for companies to recommend products to them based on information they collected, over three-quarters (77%) found companies being over-familiar "annoying".

According to Colin Strong, GfK's managing director for Business & Technology, "the marketing industry has to become more sophisticated in its use of the information it collects to convince consumers that relevant, accurately targeted offers do actually make their lives easier".

Image via Shutterstock

Tags: big data, campaign development, data mining, survey, targeting, UK

Subscribe to BizReport



Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.