How behavioral analytics can impact market research
DECEMBER 30, 2011 – Checking news sites, buying from an ecommerce website, updating internet profiles, participating in an online panel, “liking” a brand’s social media page – these are activities that virtually every web-connected adult participates in.
These are also the online activities that companies track and measure, known as Big Data.
As Amrit Williams, Quantivo’s chief technology officer, says in an interview with the BeyeNETWORK, the technology to manage, organize and turn Big Data into something useful first emerged because a credit card company needed to analyze transactions for violations and fraud in a more efficient manner. Now, however, Big Data and the resulting behavioral analytics can be applied in virtually every industry for marketing, product development and daily operations.
Williams explained that what his company’s technologies aim to do is “find patterns of behavior, what influences behavior and how to impact the behavior you want – both negative and positive behavior.”
Analyzing visitors to a business’ website can also inform market research, as Justin Cutroni tells Online Behavior. He points to the Google Analytics service, which can give companies the ability to segment their audience and target them based on their internet activity.