It seems like the word ‘big data’ is always appearing in the news these days. What is big data and why is it being talked about so much? Big data means a humongous amount of data in the form of numbers, text, and video that is being produced in this era of information. Of course, the internet has been around for quite some time and so has the ‘big amount of data’ that people have made online. The difference is that the technology to utilize such data has recently become available, which draws much more attention to big data itself. Recently big data has been used in many different fields including IT, medical treatment, and criminal investigation.
Today, I’d like to talk about how big data is being used in the marketing field.
Social Media and Marketing
Since online media such as SNS, blogs, and communities has a big influence, social media has become one of the most important aspects of marketing.
Jakob Nielson, a world renowned web consultant, introduced the ‘90 : 9 : 1 rule’ of social media. This rule means 1% of all users create content and 9% help the other 90% to see the content by commenting on or reposting it. One person out of a hundred posts something on Facebook or tweets it on twitter, 9 other people click ‘like’s or retweet it to spread such information, and 90 people consume that information. This means the content that one person made can end up influencing 90 peoples’ decision making processes. In other words, social media is ninety times more influential compared to one person talking to another.
What is Smart SMA?
In order to understand Smart SMA, you need to understand what Buzz is. Buzz is a word that comes from the actual buzzing sound that bees make, as in consumers talking about certain topics online. Everything from tweets to postings on blogs or message boards is included in buzz.
Now let’s take a closer look at Smart SMA. Smart SMA roughly includes three steps. Firstly, it collects the entire buzz that people have created. With a data collection engine called a web crawler you can gather all the data that is open to the public from different online communities, the press, message boards, blogs, and comments. Secondly, it deals with such data by using an analysis engine (the details on how will be mentioned later). And lastly, it visualizes the processed data so it can be recognized easily and utilized in numerous fields by turning it into statistically manageable data with graphs. Smart SMA at LG CNS provides services that collect various and influential text-based data from social media, analyze it, and show them in a form that the clients can understand and utilize easily.
The collected data first goes through a process called parsing, which breaks down the sentences to the roots of words. After this, the data can go into a statistics process to be gathered again later and show the exact trend online.
If you wonder what is being talked about online, you can simply type in keywords and it will show the result of the big data analysis right away on what and how things are being said about that topic online.
For example, we can learn that a simple analysis on “cherry blossoms” as the keyword actually shows a lot more information connected to it. The result shows that many people talk about festivals, photos, and weather as well when they mention cherry blossoms. According to this result, we can figure out that holding a marketing event in the form of a ‘festival’ with a ‘photography activity’ involved, along with beautiful ‘cherry blossoms’ on a ‘weekend’ may be a good way to draw people’s attention. Though this may sound too easy to figure out since we’ve used such a simple keyword, it can actually show very unexpected and helpful information about what people think and talk about in their real lives about certain topics. With its boundless potential, big data analysis can be used not only in marketing, but also in various other fields.
How is Smart SMA used?
The department in LG CNS that deals with Smart SMA analyzes buzz from social data to show the competitive edge of an advertisement model for a product. Sometimes they conduct a comparative analysis with the competitors’ models, or suggest the best TV commercial concept that connects the image of the model to the product in order to arouse the consumers interests the best. The launched advertisements we see are the ones that reflect such data. Smart phone ads are especially influenced by the distinguished communication points derived from their USP (Unique Selling Point) that can better suit the consumers’ point of view, and this is possible through big data analysis. Their commercials which reflect such results successfully often face very enthusiastic reactions from consumers.
Nowadays, big data analysis is spreading its influence to other industries. Some local governments use it to come up with better business models for local communities by analyzing social data and civil petitions and figuring out tourism information and local issues immediately. The online buzz sometimes gets fused with the internal data from stock companies in order to establish stock prediction models.
As we see, LG CNS Smart SMA can recognize consumer needs accurately and produce great results. I look forward to seeing what kind of influence their Smart SMA will have on other corporations in the future.
This article was written after an interview with Hyo-Woong Park from the LG CNS Advanced Analytics Department.
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