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!