In the 5G era, the era of the smart connection of everything is coming, data will become the most important asset, or the most important factor of production in the future. Why do you say so? Let's start by understanding big data.

The word big data, I think we have heard very much, but if you want to let us accurately say his definition to, we may be a little stuck. Big data is a direct translation of the English word big data, let's look at Baidu encyclopedia in the definition of big data:

The collection of data that can not be captured, managed and processed within a certain timeframe with conventional software tools. It is a massive, high-growth and diverse information asset that requires a new processing model to have stronger decision-making, insight discovery and process optimization capabilities.

In fact, this contains two levels of definition of big data, one is the big data that can be utilized, and the second is the definition of the value of big data. Big data is a collection of massive data, but big data is not that the more data the better, but focuses on the specialized processing of those data that contain meaning, that is to say, using the value of big data is an information asset. The McKinsey Global Institute defines big data as having four characteristics: massive data size, rapid data flow, diverse data types, and low value density.

Data itself does not generate value, massive data, chaos, disorder, low value density, the key to big data is how to extract something valuable from this data. With the development of artificial intelligence and cloud computing, the value of big data is getting stronger and stronger, more and more advanced means to find the last value from the massive data, and at the same time, these massive data can also train the increasing level of intelligence of artificial intelligence. These several areas of synergistic development, promote each other, has had a very big impact on the current situation of the industry.

Next we talk about what big data marketing is like? In fact, there has long been a very classic case of big data marketing in marketing, I believe that many friends studying marketing have heard of:

Wal-Mart supermarket chain in the United States in the 1990s. The story is like this: Walmart supermarket managers analyzed its sales data, but found a very difficult to understand the business phenomenon: in everyday life, "beer" and "diapers" these two commodities seem to have nothing to do, but often appear together in the same American consumers. In everyday life, "beer" and "diapers" are two seemingly unrelated items, but they often appear together in the same shopping basket of American consumers. In American families with babies, the mother is usually the one who takes care of the baby at home, and the young father is usually the one who goes to the grocery store to buy diapers. Young fathers often stop by to buy some beer for themselves along with the diapers.

Wal-Mart's managers noticed the phenomenon and immediately set about placing beer and diapers in the same area, making it very easy for young American fathers to find both diapers and beer and allowing them to finish their shopping relatively quickly. Such a small detail of the display allows Wal-Mart to obtain a satisfactory merchandising revenue. This is the "beer + diapers" story.

Tell us more about the case of big data:

Recommendation system for e-commerce

Now a lot of online shopping platforms, because there are a lot of categories of goods, the user to pick up a very difficult, in order to capture the user's pain points, to facilitate the transaction in time for the user to recommend the goods they need to be the king of the road. How to know what users need? This is to be big data, according to the user's browsing behavior, buying behavior, while matching the same attributes of the user's behavior, analysis and calculation, to derive the user's interests and preferences, for the user to recommend goods they may be interested in, over time, the user's image is also more and more accurate, the push of the month is also accurate.

Advertising Precision Delivery System

We often see advertisements in our circle of friends or when browsing through some news apps, such as "30-40 year olds must see", "XX city people look over", etc. Similarly, advertisements that precisely match the user's conditions appear. The ads that match the user's conditions are generally called infomercials in the industry. In infomercial advertising, there is a selection of user packages, selecting the user's age group, geography, possible income level, men and women, hobbies, the type of cell phone used, etc. These are all integrated through big data and then used as the basis of the advertisement. These are all options provided through the integration of big data, but also the application of big data.

On top of that, of course, big data has also been used in medicine, city planning, store location, and many other areas. If you're interested, let's talk about it.