Bloomreach is a cloud marketing platform provider founded in 2009. Headquartered in Mountain View, CA, the company recently grabbed $25 million in series C funding led by New Enterprise Associates, Lightspeed Venture Partners and Bain Capital Ventures.
The volume of data has grown exponentially, as more web sites are created through social media. There are signals in all of this noise, but the volume, volatility and velocity of the data is already very large and accelerating rapidly. Additionally, the advent of cloud computing has added to this acceleration. Hadoop and Cassandra have introduced new, cost-effective infrastructure for harnessing and interpreting these massive data streams which have added another dimension to the industry’s growth. The current scenario is a great time to be a data scientist as it offers many discoveries to be made.
Interpret the consumer
Recognize that the barriers to the right consumers discovering the right results were significant among the publishers of websites and were even worse among mobile sites. Pages must be a great user experience – rich in images and content – but still drive towards conversion or outcome. Interpreting the customers’ content and consumer behavior in the context of web-wide content and behavior would yield significant opportunities to increase their marketing efficacy.
The industry is in the infancy of understanding the true impact of all the different marketing channels on the consumer’s behavior. As more data is generated on the impact of these marketing efforts on consumers is generated, cloud-based, big data marketing applications will be able to make real-time choices that optimize the marketing mix.
As a whole, enterprise marketing technology is moving towards more outcome-focused, automated solutions. The first generation has been focused on manual rules, workflow and asset management. This is important, but the rate of change is too fast for manual workflows to be the primary response mechanism. Big Data Marketing Applications will supplement these asset management focused systems to derive more value from marketing campaigns and materials.
Choose a valuable purpose
Do not be seduced by making an existing solution incrementally better. Identify the purpose of the customers’ marketing initiative that you hope to impact. Build the ability to bring insight to your customers that they cannot get on their own into your product. Choose a purpose that is valuable enough to pay you for results. Then build your application and get customer feedback early and often.