Consumer Insight As Competitive Advantage Using Big Data and Analytics

Abstract

Digital revolution serves as a competitive advantage to businesses that are able to analyze consumer behavior in order to gain insights for their strategic advantage. After the advent of Internet, the past two decades witnessed generation of vast amount of business data. The amount of data is so huge that traditional database management system approaches falls short of managing and analyzing this data. This paper explores the characteristics of this phenomenon called Big Data together with Analytics as a tool for marketers to gain insights about consumer behavior and hence provide competitive advantage to the businesses. It also discusses some best practices as case studies.

Keywords: Big Data, Big Data Analytics, Consumer Insight, Social Media, Sentiment Analysis

JEL Classification: M15, M31