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Data-Driven Marketing: Leveraging Big Data for Your Business
Learn how to build a robust data-driven marketing strategy and earn a letter of completion from Cornell University.
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Learn about the tools and skills your organization needs to build successful big data-driven marketing campaigns.
This course, taught by Professor Johannes Gehrke of the Johnson School of Management at Cornell University, introduces you to the world of big data and data scientists. You explore some of the ways that data can inform your marketing strategy and open the door to targeted, customer-aware advertising. Hands-on activities and downloadable templates help you bring the ideas back to your own organization and apply them immediately.
Over 32 lectures and 1 hour of content!
Over 3 hours of activities, practical exercises, and quizzes!
Upon completing all modules, you will earn a letter of completion from Cornell University.
Anyone interested in exploring a career in data-driven marketing
Anyone looking to develop data-driven marketing projects and needing to understand the issues and skills needed for success.
Big Data is revolutionizing business: Companies are using data to drive strategic decisions about product design, marketing, and customer acquisition. In addition, connections through social media are providing a unique insight into the customer base. This course, from the Johnson School of Management at Cornell University, teaches you the language and tools of data-driven marketing research on social media platforms, providing the guidance you need to ask the right questions and put the right people in place to manage your data stream.
Meet the Instructor
Meet the Cornell faculty member who teaches this course.
Drive Your Social Marketing Efforts with Big Data
Get Acquainted with Social Media Marketing
Before you can make effective use of big data in your social media marketing, you need to understand what constitutes social media, develop a plan for how you will grow your social media network, engage with your audience, and measure your results.
Know Your Marketing Goals
Social platforms provide a massive stream of data. Knowing your goals before you begin analyzing that data will help you focus on strategic patterns and behaviors. The major goals of your social media activity fall into two "conversion" categories: engagement and sales. Define the goals carefully and concretely in those two areas and then decide what metrics define success.
Use Your Social Networks for Marketing
The value of your social media visitors lies in their "connectedness" to others. By introducing you into their networks via "following" or "liking" your content, people influence how others in their network engage with you. By knowing who your connectors are, and nurturing your relationship with them, you can increase the power and reach of your marketing efforts. These social media relationships are also assets for your company. Their lifetime value lies in the long term, as the company recoups initial acquisition costs and retains the income stream over many revenue periods. This sum of their discounted future revenues (derived from the present value of the anticipated future cash flows) is used to calculate the Customer Lifetime Value.
Understand the Network Value of Your Customers
The large data stream from social media sites allows a company to identify, and calculate both the lifetime and network values, of the connectors in their networks. A careful analysis of the patterns in the data can inform decisions about both marketing campaigns and product development.
Learn How Big Data Can Improve Your Social Media Marketing
Big data plays a powerful role in marketing strategy because it allows you to test hypotheses about what makes a customer interaction successful. Campaign decisions are informed by measured results instead of guesses.
Try It Out: Measure Your Web Presence
Take It Home: Establish Your Social Media Marketing Goals
Understand How Big Data Works
Meet Big Data
Using big data to inform your organization's social marketing efforts will be more effective the more your team understands the basics of data -- what is it, where does it come from, how is it stored, how is it used to provide the team with information for decision-making?
Find the Value in Your Data
Most organizations have had "big data" for years, but it has usually been scattered among many databases, often with duplicated or contradictory records. Organizational structures, such as business units or divisions, have led to this partitioning of the organization's data and limited the insights that can be gained from looking at data from across the company.
Discover Patterns in the Data
Examining longitudinal data -- tracking customers, products etc. over time -- reveals patterns in consumption and needs that marketing departments can respond to strategically. Cumulative data stores require massive data storage and management systems, but allow marketers to leverage nuanced profiles of their target audiences.
The Three V's of Big Data
The ability to capture transactions on many types of devices means that large amounts of data are being generated, stored and analyzed every minute. The millions and billions of data points can be analyzed at both micro and macro levels to give you a close understanding of not only your general audience, but of individual customers.
Try It Out: Look at Big Data
Take It Home: Leverage the Three V's
Learn How Data Scientists Use Testing Data to Support Decision Making
Meet the Data Scientist
Because big data comes in varied forms, the role of the data scientist in an organization should be filled by someone with both traditional data analysis skills and creative "hacking" abilities.
Validate Your Ideas With Data
The vast amounts of data available to social marketing teams enables the rapid testing of customer engagement hypotheses. You can implement an idea and then quickly amass response data, allowing you to drop or amend the campaign.
Build Big Data from Transactions
Transaction data makes up the bulk of big data repositories. Customer purchases, knowledge base queries, file uploads - all of these transactions must be stored and then reflected accurately and immediately in the customer's browser.
Learn About Asset Properties of Transactions
The four asset properties of transactions - atomicity, consistency, isolation, and durability - determine the validity and usefulness of the data.
Create a Data Warehouse from Transactions
The data warehouse that stores the millions and billions of records used for detailed market analysis must be able to handle ad hoc, rapid requests. Traditional records storage and retrieval systems used for transaction processing are not designed to respond to this type of use.
Apply Transaction Processing
Market basket analysis can provide deep insights into consumer needs and behaviors. By analyzing what customers purchase together, you can reveal linkages and profile similarities that can be used to inform your targeted marketing campaigns.
Preprocess Data for Better Results
Quality decisions come from quality data. When transactions are created, data may be missing, recorded incorrectly, duplicated, corrupted or have any number of other issues occur. It is vital that the data manager verify the validity and reliability of the data prior to running algorithms against it to uncover patterns and meaningful customer behaviors.
Solve Data Issues
One of the big challenges in dealing with big data is resolving the data deficiencies in ways that provide you with reliable information. There are a number of approaches that can be taken, incuding the use of artificial intelligence to predictively fill gaps and uncover hidden patterns.
Try It Out: Get Your Feet Wet With SQL
Take It Home: Describe the Role in Your Organization
Introduce Your Marketing Effort to Big Data
Introduce Big Data in Your Organization
Think About the Possibilities
Gathering data from social media conversations can teach your marketing team what customers really care about, and how they think about your product. Real communications can replace focus groups and reveal new issues and approaches.
Find a Tool
Your organization will need access to high-level, sophisticated tools to make use of the big data available to you. Fortunately, many of those tools are readily available in the cloud and through open source.
Consider the NoSQL Option
SQL-based databases are powerful when handling structured, tabular data. Unfortunately, big data is often messy and irregular, and therefore difficult to analyze using a structured language like SQL. The last few years have seen the emergence of data processors that, while they lack some of the data rigor of SQL, can handle the ambiguous, amorphous data gathered from social media sources.
Try It Out: Find Tools
Take It Home: Find Opportunities Using Customer Intelligence
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Great Intro Into Data-Driven Marketing
Like other reviews have stated, it would be nice if there were demos of the high-priced programs that are discussed in this course (Hadoop, Oracle SQL, etc). That being said, I think this introductory course lays a good foundation for the value of understanding/utilizing data in marketing efforts.
Lalith Prasanth Kode
Kick start your data-driven marketing
This course serves as a first step into data-driven marketing world. Data-driven marketing exists from long back I think at least more than 5-10 years. All the advertising pamphlets that we receive in our mail box is the result of data-driven marketing which closely watches customer taste, buying habits, locality etc based on which ads or coupons are customized for that specific customer. Long way to go, to get deep knowledge. Cheers to eCornell!
Glad I didn't pay full price. Too basic, low on info, too short given the subject. Can get more info for free on Utube.