Question
Asked Mar 19, 2019
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Do you think technologies like Big Data and Predictive Analytics in Marketing would have worked 10-15 years ago? And why?

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Expert Answer

Step 1

The technologies like Big Data would not have worked 10-15 years back as due to lack of large datasets as is currently available and lack of adequate execution platforms. Today Big data technologies work on huge datasets generated from data collected by social media platforms and devices, web logs, IoT devices, sensor devices, etc. The data is generated at real time, in various formats (audio, video, images, structured text, unstructured text) and at tremendous rate (e.g. multiple GBs, TBs of web log / click stream data generated per hour / per day by some of the social media platforms). Additionally platforms such as Hadoop, Spark were non-existent or were incubating in labs but not widely available in the public domain / open source. We need to keep in mind that the big data revolution was brought about by set of technologies incubated and contributed by social media companies and web search companies such as Google ®, Facebook ®, etc. over the last decade. Having said that, a form of big data computing technology was existing all the while in terms of in-house grid computing platforms. Ones used by research agencies such as CERN, which employed cluster / grid computing heavily, to run computation of huge datasets generated by their experiments.

Step 2

Predicitve analytics is a modern term for technologies and techniques traditionally been applied by statisticians. Marketing research departments have been using statistical models for a long time to validate research hypothesis about consumer behaviour, analyse marketing model experiments, analysis survey data, etc. However, the current set of technologies emerging from t...

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