If you’re not using big data, you are behind. It is no longer the technology of the future or the next big thing, it’s happening right now. Under Armour, for example, is using data from MapMyFitness to know popular running routes and times. Then it knows when to advertise products like sneakers and energy drinks. What’s the impact? A report says that, “If an advertiser is selling a product that is subject to repeat purchase, an advertisement sent to a consumer at the right time in the purchase cycle will generate up to 16x more ROAS than if an advertisement is sent at other times.”
Recommended ReadYour Competitors Are Using Big Data And You Should TooSource: http://www.forbes.comIf you’re a little company with few resources, you may be wondering whether big data is something you need to worry about. The answer is: your competitors are using it. If you aren’t, you’re falling behind. Big data is very important and I’m going to show you how it’s used on an everyday basis.
A few years ago, Under Armour acquired a company called MapMyFitness which is an app and a website. If you’re a runner or a cyclist, you put the app on your smartphone, turn it on when you start a workout like a run or a ride and turn it off when you’re done, that’s all you have to do. When your workout is over, the app tells you where you’ve gone by putting a map of it on your mobile device or computer, it tells you how many calories you burned, which hills you climbed and how steep they were, how you rank compared to other runners or bikers, lets you connect to them if you want, find new routes, and many other things. There’s a lot of free information given to users and it’s popular because it can be incentivizing for more exercise and it’s very addictive.
Read More
