A Discussion on How to Apply Smart Data for Precision Marketing in the Global Economy: Asian Context
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Abstract
The aim of the research is to provide support for the application of smart data, precision marketing, and business analysis and in so doing, it is aimed to contribute to the further sustainable development of the economy. At present, intelligent technologies such as artificial intelligence and big data are developing in full swing, and various application scenarios are gradually being launched. Smart data is a new sort of database in combination with artificial intelligence and big data technology, which makes artificial intelligence technology and big data the core concepts and the foundation of digital smart data. With smart data, companies could apply precision marketing to better reach their target consumers, push notifications at the right time, advertise the products and services consumers are interested in, and establish personalised marketing communication with each consumer in order to increase marketing efficiency. Undoubtedly, precision marketing has become the top priority in the development of the digital marketing industry, and it is becoming increasingly popular. The paper is based on this perspective and starts with an overview of smart data. The definition and development status of smart data are first reviewed, followed by an analysis of the application of smart data technology and precision marketing in digital marketing.
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Zhu, S. (2021). A Discussion on How to Apply Smart Data for Precision Marketing in the Global Economy: Asian Context. Economit Journal: Scientific Journal of Accountancy, Management and Finance, 1(2), 70-84. https://doi.org/10.33258/economit.v1i2.441
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References
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Business, International Journal of Computer Science and Mobile Computing, 3, 446–453.
Alibaba group. (2020) Our business. Alibaba official site. Available at: https://www.alibabagroup.com/cn/about/businesses, [Accessed 10 January, 2021]
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Erevelles, S., Fukawa, N., & Swayne, L. (2016). Big data consumer analytics and the transformation of marketing. Journal of Business Research, 69(2), 897–904.
Flitter, E., & Weise, K. (2019). Capital One data breach compromises data of over 100 Million. The New York Times. Available at: https://www.nytimes.com/2019/07/29/business/capital-one-data-breach-hacked.html, [Accessed 10 January, 2021]
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Khalid, U., Ghafoor, A., Irum, M., & Shibli, M. (2013). Cloud based secure and privacy enhanced authentication & authorization protocol, Procedia Computer Science, 22, 680–688.
Kotler, P., & Armstrong, G. (2005). Principles of marketing. Pearson.
Liu, Y., Soroka, A., Han, L., Jian, J., & Tang, M. (2020). Cloud-based big data analytics for customer insight-driven design innovation in SMEs. International Journal of Information Management, 51.
Marr, B. (2015) Why only one of the 5 Vs of big data really matters. IBM Big Data & Analytics Hub. Available at: https://www.ibmbigdatahub.com/blog/why-only-one-5-vs-big-data-really-matters, [Accessed 10 January, 2021]
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Murgai, A. (2018). Transforming digital marketing with artificial intelligence. International Journal of Latest Technology in Engineering, Management & Applied Science, 7(4), 259–262.
Neslin, S., & Shankar, V. (2009). Key issues in multichannel customer management: Current knowledge and future directions. Journal of Interactive Marketing, 23(1), 70–81.
Patrizio, A. (2018). Dobbs Journal. IDC: Expect 175 zettabytes of data worldwide by 2025, Network World, Available at: https://www.networkworld.com/article/3325397/idc-expect-175-zettabytes-of-data-worldwide-by-2025.html, [Accessed 10 January, 2021]
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Qin, X., & Zhao, J. (2016). Research on big data application in precision marketing. Proceedings of the 6th International Conference on Electronic, Mechanical, Information and Management Society. Atlantis Press.
Qqcjw. (2018). Precision marketing is crucial for bank industry in the era of digital economy. Qqcjw. Available at: http://www.qqcjw.com/jj/20180928/19344.html, [Accessed 10 January, 2021]
Qu, J. (2020). Application of artificial intelligence and big data technology in digital marketing. Journal of Commercial Economics, 2020(10), 78–80.
Salazar, J. (2016) “Smart data is the future of Fintech” – Speaker Spotlight: Q&A with Patrick Koeck – Data Natives Berlin 2016, Dataconomy. Available at: https://dataconomy.com/2016/09/smart-data-future-fintech-speaker-spotlight-qa-patrick-koeck-data-natives-berlin-2016/, [Accessed 10 January, 2021]
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Shujike. (2019) How Ttrip build precisely customer personas among massive data, Shujike, Available at: https://www.shujike.com/zixun/20653.html, [Accessed 10 January, 2021]
Skogen, T. (2018). The curse of isolated data islands. Minerva. Available at: https://minerva-plm.com/blog/posts-folder/2018/june/the-curse-of-isolated-data-islands/, [Accessed 10 January, 2021]
SocialBeta. (2017) Report: White paper on smart data, SocialBeta. Available at: https://socialbeta.com/t/report-socialbeta-smart-data-driven-marketing-2017-08, [Accessed 10 January, 2021]
Suh, B. (2015) Data blindness: Why we see data and don’t act. Readwrite. Available at: https://readwrite.com/2015/09/21/data-blindness/, [Accessed 10 January, 2021]
Treasure Data. (2020) How 3 Major Brands Transformed Their Customer Experience with a CDP, Treasure Data Blog, Available at: https://blog.treasuredata.com/blog/2020/12/07/infographic-how-3-major-brands-transformed-their-customer-experience-with-a-cdp/, [Accessed 10 January, 2021]
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Trip. (2020) About Ttrip, Trip official site, Available at: http://pages.ctrip.com/public/ctripab/abctrip.htm, [Accessed 10 January, 2021]
Wang, W. (2015). Research on The Online Precision Marketing of Haier Group Based on The user Big Data. Northeast Agricultural University.
Xu, J., Glicksberg, B.S., Su, C., Walker, P., Bian, J., & Wang, F. (2020). Federated learning for healthcare informatics, Journal of Healthcare Informatics Research.
Yang, Q., Liu, Y., Cheng, Y., Kang, Y., Chen, T., & Yu, H. (2019). Federated learning, Morgan & Claypool.
Yu, C., Zhang, Z., Lin, C., & Wu, Y. (2020). Can data-driven precision marketing promote user ad clicks? Evidence from advertising in WeChat moments,
Industrial Marketing Management, 90, 481–492.
Zabin, J., & Brebach, G. (2004). Precision marketing: The new rules for attracting, retaining, and leveraging profitable customers. John Wiley & Sons.
Zhao, S., & Ma, J. (2017). Research on precision marketing data source system based on big data. International Journal of Advanced Media and Communication, 7(2).