There are over 3.2 Bn internet users worldwide as of 2015. About 3 Bn search queries are made on Google every day. Facebook has over 1.55 Bn active users. At the heart of these astounding figures lies a massive opportunity: If enterprises can wade through the data generated by consumers, they can easily monetize unmet needs. This brings big data, and more importantly, advanced and predictive analytics into the picture. According to a report by Persistence Market Research (PMR), the global advanced and predictive analytics software market stood at US$2.4 Bn in 2014, and will exhibit an 8.6% CAGR from 2015 through 2020.
Big data has brought a sweeping change to several industries that deal with reams upon reams of information. Its ability to help companies find a method in the madness is what makes big data really big.
This aspect assumes even greater importance in the context of social media networks, where publishers need to maintain an optimal user experience while still offering marketers the data they can monetize.
Ad Spending on Social Networks to Hit $35.98 Bn by 2017. Big Data Can Help Social Networks Tap into This Opportunity.
A leading marketing research agency estimates that in 2015, enterprises will spend US$23.68 Bn on social network advertising, and this figure will soar even higher in 2017, to hit US$35.98 Bn. To make sure they don’t lose out on this opportunity, several social media publishers are hastening their deployment of advanced and predictive analytics (APA) software.
The challenge lies in dissecting demographics: For social networks, the greatest challenge, perhaps, is to offer users a great experience without making ads and marketing strategies feel like a nuisance. At the same time, social networks also need to hand out consumer data to marketers on a platter (whether free or at a cost is a different question altogether). What compounds this situation is that social media network users make up a vast demographic profile. This often makes it difficult for marketers to formulate a message that appeals to a specific section of social network users. Big data powered by advanced and predictive analytics could build a bridge between these disparate ends.
The solution lies in harnessing big data with APA software: For the most part, the social media industry has not been as forthcoming in the adoption of advanced and predictive analytics software despite there being a massive need for the same. Since user demographics vary, creating a coherent message becomes very difficult. Hence, the essence lies in being able to target demographics narrowly by effectively harnessing big data via the use of advanced and predictive analytics software. Data collected during new user registration, network search queries, and ‘likes’ and ‘shares’ forms the cornerstone of a successful digital marketing strategy. As advanced and predictive analytics software is making this possible, more companies are now allotting budgets for this purpose.
Successful Cases of APA Software Deployment will Spur Adoption
Companies such as Google, Pinterest, and Facebook have already proven that they can serve up the numbers needed to turn marketers into loyal customers. But many other social media networks are yet to follow suit. Although currently it is the BFSI industry that leads in the deployment of advanced and predictive analytics software, the social media industry could transform into a major consumer of such software.
Browse Full Global Advanced and Predictive Analytics (APA) Software Market Research Report With Complete TOC @ https://www.persistencemarketresearch.com/market-research/advanced-predictive-analytics-software-market.asp