Most domestic companies are willing to invest in big data technologies, but lack of human resources and know-how make it difficult to gain in-depth insights. In fact, only a small percentage of domestic companies track ROI, and the rest do not even think that marketing is at least effective.
The bigger problem is the lack of awareness of big data. Domestic companies now need to acknowledge that their large amounts of data are responsible. In order for an organization to determine the purpose of its data based on its information, it must intuitively identify and verify the most important indicators of its customers’ goals, needs, and overall vision.
Examples of important indicators include, but are not limited to, motivation, search words, location, revenue, and perceived value. So it is better to gather the necessary data through rigorous verification of various hypotheses. Of course, it is not easy, but the rewards are well worth the enterprise.
The main reason for the increased demand for Big Data solutions is the need for control over the exponentially increasing amount of data. In fact, European companies are not only aware of big data issues, they are investing heavily in new technologies for in-depth analysis.
These companies are using most of their big data budgets for software and hardware and consulting. Of course, Korean companies can no longer be an exception. In terms of marketing, data is of immense value and companies need to make the most of it.