Big data is a group of data sets that are so big and complicated that the usual methods of collecting, storing, and processing the data simply aren’t adequate. An entirely new set of tools has been developed just to handle big data. But as a marketer, you should be aware that the small data is important too. In fact, sometimes when it comes to building and developing a special, unbreakable bond with your customers, small data might rule over big data.
What is Small Data?
Big data is data derived from and applicable to entire populations. Small data, on the other hand, is data that is about and relevant to only one customer. Big data can tell you that companies along the east coast with revenues in excess of $5 million per year are most likely to use SaaS solutions versus on-premises solutions. Small data can tell you that ABC Corporation uses SaaS for their IT help desk, document storage, and backup solutions. In a B2C situation, big data tells you that women who work are more likely to use dry cleaning services, while small data lets you know that Betty, who works with XYZ Investments, prefers to use Babble’s Dry Cleaners on Fifth Avenue on Tuesdays.
Where Does Small Data Come From?
Small data comes from the Internet of Things, or IoT. This customer/user information includes their online shopping habits, their personal purchase histories, their website visits, social media activities, and other information easily gleaned from your CRM software and/or cookies and mobile apps. But it can also incorporate other data, such as that derived from their wearable tech, smart home appliances, connected vehicles, etc. Any data stream you can access has valuable small data on its owner.
What are the Benefits of Small Data to Marketers?
Just by realizing what small data is, you as a marketer have already probably figured out how useful it could be. Small data can let you know exactly the right message to reach a customer at any given time. You can also develop timely messages for deeper impact, and extend special offers that are highly relevant to where the buyer is in the decision making process. Big data can improve your strategy to approach targeted, segmented groups; small data can put you right on the mark with a particular customer or lead perfectly.
ReachForce helps marketers increase revenue contribution by solving some of their toughest data management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like marketing automation, personalization and predictive marketing better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce can unify, clean and enrich prospect and customer lifecycle data in your business, and do it at your own pace.
To learn more about how ReachForce can help you optimize demand generation and your impact on revenue, check out our real-time web form enrichment demo, or request a free marketing data diagnostic. Get the power to let data drive marketing and higher performance.