Real Time Analytics
Picture this: you are in a beautiful soda fountain, enjoying a delicious milkshake with your closest friends; you are having the time of your life, suddenly, chatting, you end up talking about the best things to side the milkshake with. You get the need to look into your Facebook for a post you saw on Facebook just this morning, then just like magic, one of the posts is an ad for “the best french fries in town”, shortly after it another one about “Onion rings to lick your fingers”.
What’s going on? is Facebook listening to my real life conversations? Well not really, Facebook just knows that you searched the location of the soda fountain where you are, or maybe you send a message to your friends beforehand using Whatsapp, maybe you even checked-in on the soda fountain. All these information, that we only want to share with friends and family, is stored on every social media network we use and its constantly analyzed by artificial intelligence and marketers in general. This is called real-time analysis.
The great advantages of real-time
Real-time analytics is nothing more than the constant rain of user data LIVE, this helps position ads that might be of their interest right on the spot. It’s like the user was a king that needs a knight and we all respond with our best knight for the court. This is like a dream come true for marketing for three reasons; the first: watching closely the client’s history works, but they are in constant change, having access to it as they write allows us to know exactly what they are looking for right now. Secondly, we can get insights from our brand; like a sudden change in sales, or a red flag in social media; thirdly, competitivity, being able to manage strategies in real time gives keeps our brand one step in front of the competition who keeps analyzing information after it has passed.
Real time, is it for me?
Even though just hearing the phrase “real time user data” can makes us go into a panic attack, after all it is estimated that on 2020, 1.7 megabytes of information will be created each second for every human being of the planet, the reality is that it can be a very powerful and simple tool for us. Like everything, success is in learning to use it.
Managing data in real time can allow us to create an environment of security for the brand. Did someone tweet negatively about the brand? You can know in a second and fix the issue. Your 15 second spot is performing better than your 30 minute spot? Switch it up, right there, quickly and efficiently. What if, suddenly, a monsoon falls on one of your stores? A big sale in umbrellas, right there and then, approved and updated by HQ. Is there a sudden boom in sweaters and your store might not have enough? Not, thanks to real time data, the store was supplied efficiently and every client got a sweater.
In real time we can react in a matter of seconds, if we add it to Machine Learning, the platform then can react in microseconds, analyze the data, reference it with the store and prepare a suggest a marketing strategy. If a client closes our e-store for some reason and left their virtual cart abandoned, they can get a coupon on their email to finish the purchase in seconds, or free shipping, or maybe a promotion, the options are infinite.
En tiempo real podemos reaccionar en segundos y si lo llevamos a Machine Learning, la plataforma puede reaccionar en microsegundos, analizar la información, referenciarla con la tienda y preparar el ataque mercadológico. Si el cliente se sale de la tienda virtual por alguna razón y dejó el carrito electrónico abandonado, en ese momento puede obtener un cupón en su e-mail para que haga su compra, o el envío gratis, o una promoción, las opciones son infinitas.
Sources
www.sas.com
www.dzone.com