1A. Social Media & Big Data

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There is a huge journey ahead for social media users and marketers as your data could be a marketable asset near future. Data is collected and stored from your web browser through to your daily social media viewing trends. Our privacy is no longer existent in the cyber world as all stored data is accessible to large companies like Google and the Government. For example, Facebook is required to turn over copies of data by Federal Law when requested.

Facebook and Twitter utilize specific data to distinguish potential marketing targets based on your likes and recent visits on web browsers. This is how they personalize advertisements to cater to you. I greatly believe from a marketing perspective that this is an intelligent process of acquiring personal data for sale purposes. Being a major social media user myself, I however also strongly agree that one’s privacy should fairly be treated with respect and solitude having the right to browse freely without being bombarded with advertisements.

Marita Scarfi, CEO of digital ad agency Organic states that social media data is unstructured making it difficult to analyse. There is no tagging system to identify different aspects of this data even through analytical tools. Millions of tweets and posts are added everyday making it unimaginable to consider the amount of consumed data just by social media in future (Scarfi, 2012). This could mean that people may be hired to structure this data that may one day expand to actionable branding strategies for exponential marketing purposes.

As Lisa Gitelman states, ‘Data has been figured as a Gold Mine, the New Oil of the Internet and the new currency of the digital world’, due to the fact that data is ever so raw in material. The abstraction of data and its uses has endless possibilities waiting to be explored. Raw data is the material for informational patterns still yet to come (Gitelman, 2013).

My thoughts and arguments about the future of social media is that it will be remarkably interesting to see what could be unfolded for future purposes with the data extracted from our current actions. I believe marketers will hold the power to control our unconscious minds with even greater personalized advertisements.

Andrew Pole started working as a statistician for International company Target in 2002 where he analysed the stereotypical purchases of customers. He was able to identify certain products that catered to certain people based on collected data. This provided him with a statistic of values. One for instance was that he was able to identify a pregnant customer based on her purchases and how long she has been pregnant for based on the quantity of products purchased in one transaction (Duhigg, 2012).

It is absurd knowing how much data we consume on a daily basis. However it is even crazier knowing what could be produced with the data that is collected and monitored for future actions and possibilities.

References

Duhigg, C. 2012, The New York Times, How Companies Learn your Secrets, New York, last viewed 29th of October 2015,

< http://www.nytimes.com/2012/02/19/magazine/shopping-habits.html?pagewanted=1&_r=2&hp>

Gitelman, L. 2013, Raw Data is an Oxymoron, Dataveillance and Countervailance, The MIT Press Cambridge Massachusetts, London England.

Scarfi, M 2012, Forbes, Social Media and The Big Data Explosion, lasted viewed 28th of October, 2015,
< http://www.forbes.com/sites/onmarketing/2012/06/28/social-media-and-the-big-data-explosion/>

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