Big-Small Data

An Avela Consulting Marketing Component Resource Paper

This paper will discuss the title topic as it applies in the China Market and will explain how Avela Consulting responds with strategies custom-structured for individual client needs. These Resource Papers provide a preview of the issues addressed in the Avela Consulting Feasibility Study that will be prepared for your individual needs.

Backstory

Data mining is big business with tremendous marketing potential. There is a multitude of uses for Big Data, but in the case of marketing, countless business transactions, social media posts and other sources are often sifted through to identify individuals who represent likely consumers of a product.

Knowing your customers’ habits is key to reaching them, so a profile of your likely customer is a critical tool in your marketing toolbox. Big Data looks at the daunting totality of information out there. Algorithms dig into the data and sort through it all to identify trends to create a customer profile. You get information such as where they live, their income, whether they shop online, viewing habits, etc.

This can help you make some informed China marketing decisions. For instance, should you advertise on broadcast television or online media? It represents the science of marketing, but not the craft of marketing or the art of marketing.

That’s where Small Data comes in. It works to understand why a customer buys your product or a competitor’s product. Say your competitor offers their product cheaper and in a variety of colors and the customer ultimately buys from them. What do you need to do to get the sale the next time? Maybe you need to lower your price—or maybe you simply need to offer your product in red. Small Data can help you make that decision.

The Avela Consulting Response
Avela Consulting accesses the extensive data bases tracking Chinese consumer activity to provide data relevant to making informed decisions regarding your China marketing. Both Big and Small Data, properly used to identify and target likely buyers in China are key resources in effectively accessing this market.