Big Data Coming Your Way
Dr Kong Cheen Lau holds a PhD in Marketing and serves as our Senior Director. The following are excerpt from his speech “The Age of Big Data Analysis.”
The interest towards big data of late is very much attributed to the large amount of data generated from both within organisations and in the digital space. For instance, within each minute, brands receive 34,722 likes, Facebook receives 684,478 new content and Twitter sends out 100,000 tweets. Successful brands have been those who have stayed relevant to their target market over time. L’Oréal, for instance demonstrated their reliance on Big Data by observing “Google Search” behaviours of women looking for hair colouring products online. From this analysis, L’Oréal was inspired to develop their Ombré hair kit which was very well accepted.
In general, big data refers to technologies that make sense of huge data sets which would open up new approaches to understanding the world and making decisions. At A.S. Louken, we recognise the impact of Big Data towards the evolution of brand management. Together with our group of agencies under the Louken Group, we advise clients to leverage big data as a means to better manage their brands. This in turn helps brands to better understand their customers more efficiently and in a more dynamic manner in order to foster a close relationship with them.