Describe the different types of Big Data sources available to marketers. How can marketers use this information?

Question

What will be an ideal response?

Answer 1

There are five different types of Big Data sources that marketers can use. One external source is social media. When consumers interact with each other and with brands online, they generate a wealth of information about their attitudes toward products and how they use them in their daily lives. This information, when collected and analyzed, can help marketers develop an understanding of how consumers perceive their brands. Internal, or direct, Big Data sources are a firm's corporate information technology sources, such as CRM databases and web analytic databases. This information tells marketers how specific consumers are interacting with the firm over time. Government and NGO sources are a type of indirect source that can provide a range of information, such as demographic information about consumers or economic conditions in specific regions of the country or world. This information can help marketers better understand consumers and potential markets. Two other sources for Big Data are commercial entity sources and partner database sources. Commercial entity sources are companies that collect data about consumers and then sell that data to marketers, helping marketers understand the purchasing habits of different types of consumers. Partner database sources are channel partners that share information, such as a retailer sharing purchasing information with the producers of the goods it sells to end users. This real-time information helps marketers understand where and when consumers want their products.