Study: Big Money in Big Data

Big data created a $156 billion industry in 2012, a recent study by the Data Driven Marketing Institute finds. This research on is one the first studies to put a dollar amount on the “big data” industry. As with many studies that attempt to place a value on a technology or industry, these numbers are rough estimate, as many businesses that benefit indirectly from data were included in this valuation.

DDMI Big Data Infogreaphic

This infographic provided by the DMA/DDMI explains the money being created by big data.

 

The study also mentions that big data is creating revenue by being used in the following ways:

    • Creation of dynamic segmentation models
    • Targeted media campaigns
    • Customer and prospect outreach
    • Creation of long-term progression statistics

Individual-Level Consumer Data (ILCD) is at the center of the Data Driven Marketing Economy (DDME) being created. About half of the $298 billion spent on media advertising and direct marketing involved the DDME in some capacity. Focusing closely on the individual, marketing campaigns are becoming more targeted and nuanced.

The findings also emphasize and foreshadow the power of online marketing, and what role it will have in the future. “The study found that ILCD was a resource to optimize expenditure on interactive and direct response marketing, both offline and on. It reduced inefficiency in matching producers and customers, or increased effectiveness, or both,” the study says.