Author(s)

Manwen Lu, Guochao Lin

Corresponding Author

Guochao Lin

ABSTRACT

With vast amounts of data available and accessible, marketers focused on gathering and exploiting data for further advantages. The volume of data is growing at exponential rate. The decision response to data is faster than ever before. Today’s market phenomenon requires data to be utilized appropriately and efficiently. A lot of companies pursue after advanced technology and analytical methods of big data to take full advantage of what data takes along. 4Ps and customer behavior prediction are beneficial from the applications of big data. It allows marketers to have a better customer insights and predict customer behavior thus executes “precision marketing” for firm a competitive advantage. In the phenomenon of the increasing prevalence of internet and digital devices, big data are also has its own management challenges including privacy and security issues.

KEYWORDS

Big data, marketing, customer insight