How does Big Data affect the marketing strategies of companies? (PDF)

Seminar paper from the year 2015 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 1.0, University of Applied Sciences Köln RFH, language: English, abstract: In our digital age, information is shared more and more on digital platforms. In the area of business, collecting digital data sets and analysing them for different purposes is becoming increasingly important. A book by Ohlhorst is entitled “Turning Big Data into Money”; this already implies the potential that the use of huge amounts of data can have for companies today.

The term Big Data refers to these huge sets of data. These data sets have to be analysed and integrated purposefully to draw value from them.

This term paper deals with the question how Big Data has an effect on the marketing strategies of companies. Especially nowadays, this question is of increasing importance, especially with regard to the spreading of mobile data. As today a major part of the population is mobile and much data, both private and public, is saved on the internet, the issue of data collection is controversially discussed.

In order to answer the main question, the term Big Data will be defined and it will be explained for what it is used. Based on the definition the concept of Big Data will be related to different marketing strategies. After that the term paper will discuss the meaning of Big Data within companies. The main part of the term paper deals with the question how Big Data is manifested in companies.