Big Data creates "Big Bucks" - Louise Stokes
Each time a new media user likes, shares, hashtags or online purchases, the concept of big data is displayed. What is big data really though? “Big data is a way of understanding the world, we can measure so much more than we ever could, and now we’re going to be able to visualise so much more than we ever could. It’s going to provide a whole new framework for understanding human civilisation” - Jason Silva, (2012, The Economist). Big data gives large corporations the chance to examine and act accordingly to data collected through social media platforms. Siegel (2013) explains that by gathering big data it “embodies a priceless collection of experience of which to learn”. In the event that organisations are to take in and raise their benefit from huge data, what are the successful ways in which to do so?
An example of where big data is collected from is Instagram. It is a mobile social media, photo-sharing platform that allows users to follow and like/comment on brands and people they are interested in. According to Smith (2014), there are 200 million monthly, active users on Instagram. “Instagram has quickly gone from a trendy iOS-app, to a massive social network with Android and web presence. Instagram hasn’t shown any sign of slowing down, and with Facebook’s pocketbook behind it now, its growth will surely continue,” (Smith, 2014).
A local brand that has increased its marketing exposure by using Instagram effectively is SaboSkirt. Two Brisbane girls originally started fashion blogging in early 2010 and since then has created an online store and now has one million Instagram followers from all over the world. I believe without Instagram they wouldn’t have been able to experience growth in the way they have.
(Instagram Profile @saboskirt)
By utilising big data through Instagram, Saboskirt has been able to experience global success. Instagram has allowed customers to interact directly with the brand and given them the platform for such close engagement.
Companies can examine their audiences in greater depth and thus give them and continue to deliver to their needs as a group. This new understanding can give the company new ways to promote to their followers and continue to grow them, creating a hugely popular concept.
In summary, big data gives a shifting control to brands. It allows companies to better promote to its audiences and therefore grow its business. Big data is an ever increasing popular tool, that when efficiently dissected, can affect monetarily and fascally, as well as inside social domains.
Siegel, Eric. 2013. “Introduction – The Prediction Effect.” In Predictive Analytics, 1-16. Hoboken, NJ: John Wiley and Sons Inc.
Silva, J. (The Economist). 2012. “What is Big Data?”. Youtube Video, posted June 26. Accessed May 10, 2014 https://www.youtube.com/watch?v=ahZGEusG13A
Smith, C. (Digital Maketing Ramblings). 2014, “(April 2014) By The Numbers: 70 Interesting Instagram Statistics, posted March 6, 2014. Accessed May 9, 2014 http://expandedramblings.com/index.php/important-instagram-stats/#.U3gSdRCLNoc










