Author and consultant Peter Field on why brands need to be wary of big data
We are now entering the era of big data. Large scale information can now be collated, measured and tracked with a view to optimising sales, marketing and business performance.
The trouble is that much of this data is focused on very short term research; Facebook 'likes' for example or views on YouTube. This in turn can lead to influence very short term strategic incentives and objectives. The question raised then is, 'How does this continual focus on short-term results affect a brand in the long-term?'
Marketing Consultant and Author, Peter Field is co-author of "The Long and the Short of It", a report which looks at the drivers of success both in the long term and the short term using 1,200 marketing case studies taken from the IPA Databank.
In this video, Peter shares his three bits of advice on how to balance short and long term marketing strategies.