Academic journal article Competition Forum

Technology Considerations for Competing in the "Big Data"- Social-Mobile-Cloud Marketing Space

Academic journal article Competition Forum

Technology Considerations for Competing in the "Big Data"- Social-Mobile-Cloud Marketing Space

Article excerpt

EXECUTIVE SUMMARY

A new wave of convergence is emerging that will radically transform marketing methodologies as well as other components of business operations and management. The converging dimensions include social media and networking, mobile devices and platforms, cloud computing, and so-called "Big Data" analytical environments. This paper reviews the technologies behind the emerging transformations and presents an organizing model for the key enabling technologies, services and applications. The model serves to elucidate the modalities that these technologies will foster. Strategic considerations and guiding principles are presented for companies to leverage these developments to enhance their competitive position in the 21st century "marketspace."

Keywords: Social media and networking, Cloud computing, "Big Data" analytics, mobile devices and platforms, Marketing

INTRODUCTION AND PERSPECTIVES

Profound technologically enabled changes are affecting current and future marketing paradigms. The future "marketspace" will be radically different from historical "marketplaces": it will be virtual as well as real, it will be proactive as well as reactive, it will be highly personalized yet ubiquitous, it will leverage "Big Data" (a term describing the totality of structured and unstructured data sources including social media), and it will rely on a complex tapestry of richly interactive, intelligent real-time channels characterized by location-aware multimedia, multimodal, multiplatform, multidevice, and multilingual capabilities. The most important dimensions required to understand and leverage these transformative techniques and technologies are:

. Mobility and Location-Awareness

. Intelligence

. Real-time Responsiveness and Adaptability

. Write-Once Reach-Many

As population demographics evolve, both customers and employees increasingly will be highly tech-savvy mobile-oriented digital natives, and companies must adapt to these coming changes.

The marketspace will be both virtual and real, and increasingly the distinction between these two environments is becoming blurred as augmented reality technologies begin to pervade customer interactions. Customer-centric micro-marketing modalities have become quite common in recent years, fueled by the capabilities of Web 2.0 technologies. Continuously updated customer profiles coupled with powerful business intelligence processing capabilities enable marketers to not only recognize and personally address each customer, but to proactively engage the customer based on his or her personal interests and characteristics. Amazon's pioneering work in recommending books to customers about a decade ago has now become a multi-product recommendation agent concept that many online vendors embrace. 20th century marketing was reactive in that data collected on customers and campaigns were analyzed with derived insights later applied to provide mid-course corrections and/or improved marketing models for the future. It is perhaps ironic that current emphasis on proactive and predictive methodologies will be supplemented by a resurgence of reactive marketing with one major distinction from the 20th century model. The 21st century model will emphasize real-time reactivity, with "big data" processed by real-time BI (business intelligence) engines affecting virtually instantaneous intelligently automated marketing decisions targeting specific customers.

Information technologies impacting eCommerce and marketing are highly diverse today, and this trend is actually exploding, making business planning and development environments increasingly complex and fragmented. The factors driving this environment include:

. Multidevice targets: Whereas the early paradigm of desktop targets was complicated by different browsers, operating systems, and vendor hardware suites, the landscape is today far more complex and includes mobile devices such as smartphones, tablets, and others. …

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