Big Data - the next gold mine
Until recently, Big Data was perceived as a vision and aspiration, but today it has become a premier marketing tool that allows us to personalize and uniquely and accurately target different audiences, while making adaptations to the usage patterns of such audiences. Many companies use customers and users databases from various sources, cross-linking of which comprises a real marketing asset.
On the other hand, the use of such data requires adoption of a policy that protects the privacy of users, ultimate protection against cyber hacking and intelligent management thereof, all for the purpose of maintaining and expanding it. A new European Union legislation (GDPR) is expected to enter into force this May, which defines new rules for protecting the privacy of users. Among other things, the legislation requires obtaining explicit consent from the user to collect data, elaboration as to how data are collected and to what purposes they are used. In addition, the legislation grants the private user the right to be erased from a database and forgotten (except in special cases, but we will not discuss exceptions).
In light of this, we have compiled a few tips for you to facilitate and assist you in managing your data:
1. Legal counseling - the GDPR regulations apply to any entity that collects information about residents of the EU, even if they actually reside outside the continent. In light of this, and in order to ensure that you comply with all the requirements of local and international laws, we recommend that you obtain comprehensive legal advice that clearly defines the limits of data collection and usage thereof, and make the various required adjustments.
2. Focus, focus and once again – focus – the inboxes of most of us are extremely overloaded while we simultaneously receive information via WhatsApp and via other social networks. In fact, it seems that we are under constant flooding of information. Therefore, make sure to produce designated lists for designated areas of activity. This will save you the way to be moved to the spam folder and will make your referral much more efficient and effective.
3. Share information with colleagues - intelligent use of produced information in such a manner that generates real business value and opportunities requires cooperation between leaders of different fields and proper management thereof. Therefore, share the insights with both the headquarters and the field teams, and examine the best way to use them together.