Thoughts on The Future of Marketing

Big Data Network

Big Data and Internet of Things are very important to companies in this digital age, it allows the company to connect with their consumers.

Big Data represents massive amount of data, these data are collected quickly, they also have to be of quality and updated in real-time.

Internet of Things allows everyday items to become smart objects, for example watches, fridge, cars, that connect internet to transmit data. When these smart objects are combined with information from other sources, it becomes Big Data.

Oak Fitting Room at Ralph Lauren

Big Data and Internet of Things has solved many problems, in fact they are necessary in companies who want to make a difference to people’s lives in this digital age. In luxury retail lines, data has to be collected to be uploaded to create an interactive online catalogue for customers’ easy surfing and improve customer satisfaction. For example, referring to the picture above, Ralph Lauren used Internet of Things and Big Data to store their product catalogues allowing consumers to visualise and choose from a wide variety, bringing interaction in a retail store to a higher level. It helps companies find out what their customer want, allowing them to create products to solve these problems and cater to customers’ needs. Marketers will then be able to better understand their target consumers based on their lifestyles and be able to spread news to them in a more engaging and efficient manner.

Service costs will also be lowered, customers will be more satisfied with the customer service because it allows the company to have a better engagement and interaction after analysing their customer profiles. Services such as deliveries will be more efficient with sensor monitoring (Internet of Things), allowing optimisation for driving routes reducing accidents etc. Marketers will be able to gather data quickly and spread news about new launches more effectively.

Smart Home Experience

From a consumer’s perspective, Big Data and Internet of Things, brings living to a whole new level. Because of technology, smart homes are made possible. Enhanced security system connected to the cameras around the homes, whereby in the case of break ins, the homeowner will receive a notification and the security system would alert the police at the same time. Imagine returning home after a long day, just giving simple commands, and the home system would do the rest, play music, turn on the TV, prepare the bath, work the microwave, etc. Isn’t it so convenient? I’d definitely want a home like this!

In healthcare, a patient’s waiting time will be reduced, accompanying guardians would also know the progress of how their loved ones are doing, eg. the updates on TVs with the queue numbers. Medicine can be delivered automatically to patients, ensuring they take medicine on time and lightens nurse’s workload. Their conditions can also be monitored and analysed through the sensors, in which will notify the doctors in the case of emergency when data collected falls below a certain level.

Although there are many benefits with Big Data and Internet of Things, security issues are unavoidable. Having confidential data stored on a database, also allows hackers to hack information. At the same time, viruses also be sent. There may be many smart items in the market with many separate functionalities, this can result in more inconvenience to a user, for example a smart watch and a smart phone, a smart phone can accomplish things that a smart watch is able to, is there really a need for a smart watch? Or is a smart phone sufficient? Are you a supporter for technology to change our way of living, or do you prefer traditional methods? Let me know your thoughts below!

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14 thoughts on “Thoughts on The Future of Marketing

  1. Interesting read. I’m a supporter for technology to change our way of living. I like how the security system is connected to the camera at home, whereby in any case of break-ins, I will be able to receive notification and how the security system would notify the police while I can just look at the security camera on my mobile phone to see what’s happening as it brings a greater convenience as compared to the traditional methods

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    1. Technology had made a difference in our lives, making everything smarter, incase of danger these devices can call for help with the command of our voices. It also allows us to monitor what’s happening at home when we are out. I would not be surprised to find out that majority of the people’s houses become smart too. Smart products help to reduce workload, increase efficiency and bring convenience to everyone, thus companies are still innovating to make things even smarter, so appeal to the crowd.

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  2. I agree with you to a certain extent. In this modern world, it is good that we are connected to the rest of the world. However, if we let Artificial Intelligence(AI) and internet to control our home or our life, our privacy and safety are at risk.. Hackers are getting better and with all this technology upgrades. that will make us vulnerable to such attacks. Will you choose a modernized world with a higher quality & standard of living or your safety against cyber threat?

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    1. Yes, our privacy and safety is at risk, however, I feel that people are finding ways to reduce these risks. There must be a reason why smarter products are being developed in the market every year because consumers crave it, they want smarter products despite all these factors. I would choose a modernized world because that way of living is more efficient, as compared to the days 30 years ago, where it takes hours to get a message to another person through the use of a pager. It is too much of a hassle, time is essential now, so everyone wants to save time to be more productive. AI in the service line might be good too, customers will not have the problem of unhappy staffs not giving them smiles and thus rating their service poor.

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  3. It is really awesome to see that you’ve used examples of Big Data and the IoT across different industries! It made for a very pleasant read! I am a supporter to change the way that we live, but then again it has to be properly managed. As technology progresses, ill-willed individuals will have greater capabilities as well to hack into the various smart systems thereby making us feel a great sense of discomfort, especially in the event where sensitive information and data may be stolen. So, as our way and standard of living gets better, security protocols and systems have to leverage upon improving technology too so that we are protected from the associated risks and potential dangers!

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    1. Thank you 🙂 I share the same thoughts, I am a supporter too. Although there will be risks of hackers stealing our data, maybe even taking our money. Living smartly can make work more productive and reduce time wastage. Exactly, I believe that technology can block hackers with protocols! IoT and Big Data are really useful tools that help to innovate and make our world a better place to be in. It evolves our way of living that’s for sure!

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  4. Interesting read Geraldine! I do agree in a certain extent that the IoT has brought in a lot of conveniences by transmitting data to the internet and allow it for easy retrieval with other devices. But this convenience also comes at a risk – Breach Of Privacy. With so many sensitive personal data flowing through the internet, this sort of increase the risk as a single attack is all it takes to create dire consequences for us. I do feel frightened at the thought of this. Are you?

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    1. I am frightened, but I believe if technology can be advanced to this state. These security issues can be easily overcome too. Technology is advanced now, even the mode of Apple Pay where my creditcard is connected to my Apple account. I have yet received any terrifying news that a hacker has used my account, even so, the bank will be able to cancel the transaction and investigate where the hacker is. With everything digitalise, it is always possible to track the person down because there will always be traces available. I still support the world becoming modernised! Thank you Wei Li for sharing your concern 😉

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  5. Although it may seem that Big Data and IoT really does bring a lot of benefits to consumers or marketers. But we must never ignore the fact that there can be risks of security breaches especially with so much information. Hackers will definitely find ways to attempt to hack and steal valuable information and we must stay vigilant and exercise countermeasures to mitigate this issue.Overall a great read 🙂

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    1. Thank you 🙂 That is true. I believe these problems can be countered and these hackers will not get away scoff free. Living in an era where technology is everything, I cannot imagine going back to the days where technology does not really exist. I can only think of moving ahead moving forward. These devices make living feel much more convenient as compared to in the past, and I really enjoy and appreciate that because of technology we have what we have now! I do understand where you are coming from too

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  6. This is such an eye opening blog post! I was never aware that IoT and Big Data were having such great impacts on industries like healthcare. Although I do agree that the usage of big data brings many advantages like providing higher quality care to patients.. don’t you think big data poses a threat of potentially undermining doctors altogether, which could result in patients opting to seek medical care from technology instead?

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    1. Yes, it is possible that patients will seek medical care from online doctors, by describing their symptoms, because this is an available service right now. They might self medicate too based on their symptoms because they do not want to pay for the expensive consultation fees or too ashamed to share their illness with the doctors. However, when the medication does not work, I believe, they will seek professional advice. For example, as a parent I believe they will not self medicate for their children unless their children are adults with a better immune system. If the child is developing it could cause complications to their growth when not treated properly. In hospitals, technology helps to monitor the many patients, and it makes it easier for the staffs because to be checking on each patient individually, can be quite taxing.

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  7. Wow I didn’t know that it was incorporated into healthcare. I would love to be living in a world where things are automated for me, despite security issues. I feel that it can be overcome. The feeling to be having AI to do things for me, overpowers the security dangers. Great examples, it allowed me to better understand how IoT and Big Data is used in our daily lives. However, do you think this technology will create greater danger to our lives? Having a lot of electronic devices close to the body might create some complications and damage.

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  8. I believe it does affect our health in the future, because of all the radiation from mobile phones, laptops. If everything is becoming automated, I fear it’s safety too. With things requiring electricity, it can cause danger. For example smart devices in the bathroom, with water and electricity, I would fear being electrocuted during a shower. At the same time, I believe when creating the product there are safety measures it has to abide by and pass before being made available in the market. Therefore, there should not be any issues when it has passed safety tests. Thank you for sharing this concern, I didn’t think of it beforehand! 🙂 I hope you enjoyed my post.

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