Big data for business
- Predictive marketing
Big data is used to predict major life events like graduating or getting married, having a child, they do that by looking at the consumer behavior by monitoring the type of websites they visit. For a real-life example check this link ( how target found out the girl was pregnant)
- Looking at consumer behavior.
By looking how often you log into their website, they can check what type of items you are looking.
Real life example:
I was looking to buy a mac book air on Amazon, then I changed my mind and I was watching youtube all the ads in the google ads were about mac laptops from Amazon
Another example: I wanted to buy some books about Data mining, but for some reason, I postponed buying it, next week I got an email from Amazon of all the highly rated Data mining books, I ended up buying 2, and they were really good.
- Using Demographics
Demographics like age- marital status – home address- websites you visit
- Predicting trends:
The edited retail company won an award for using big data in predicting fashion trends, so they can actually tell the retailers what most popular colors, styles, brands when they are going to be popular which will help them in pricing them