Big Data, Analytics and Paradigm Shift in Marketing & Sales

Abstract

Outbreak of internet and its invasion in day to day life has created a plethora of opportunities in the field of marketing and sales. It disrupted the classical sales funnel and shortened journey of making a person, from prospect to customer. Marketing Information System (MIS) is the traditionally reliable system to collect valuable customer data for identifying potential sales target. Advancement in technology like, arrival of IPv6, IoT, social networking/ mobile and broadband penetration has ensured that there will never be the dearth of data. In today’s world, problem of marketers is not lack of data rather it’s plentifulness. The technological explosion and networking of various computing devices were also instrumental in generating huge stockpile of data. This unrelated data however, was meaningless due to lack of proper analytical tool. The scenario was changed with the advent of Big Data Analytics which aided in identifying the pattern in these humongous and unrelated data. This not only led to paradigm shift in traditional marketing and sales but also change the way we perceive the sales promotion process as a whole.