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How Marketers Can Use Big Data To Adapt To Competition
Understand that you need to gather intelligence The first step towards success when it comes to using big data to adapt to your competitors is to gather as much intelligence as possible. You can only respond to whatever others in the market are doing if you’re aware of their ad campaigns, for instance, meaning you really need to beef up your business intelligence gathering skills before making any sizable investment in your IT department. Mastering the art of scoping out the competition is often made easier if you hire a dedicated team or professional to focus exclusively on collecting data on your competitors. By monitoring the social media posts and traditional advertising campaigns of other brands, you can see what’s generating a buzz and what’s falling flat with the public at little to no cost whatsoever. Eventually, however, you need to stop just scooping up as much data as possible and actually put the information you have at hand to productive uses.
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