Alibaba is currently the best performer in the market and with big data looming large over Alibaba, it is soon going to surpass many others around it. The ecommerce giant has been able to establish itself as one of the most aggressive players in the share market with a 33 percent growth in the recent weeks, peaking its share to a possible to 190 dollars.
Focusing largely on the new kinds of marketing services based solely on big data and its exploits, Alibaba will surely change how ecommerce works in the coming decades. Alibaba is not just expanding, but also moving towards greater possibilities. Alibaba rose to fame by monetizing on internet traffic and it has given Alibaba all the fame it needed. Now, its concerns have shifted slightly.
Data is the new money
Data is truly the new form of currency, and Alibaba knows that. Hence, Alibaba is shifting towards capitalizing on big data and now that it has a wide range of media enterprises as well as cloud businesses, Alibaba can open up other sectors such as corporate budget situations where there is no apparent transactions.
Market research, for example, is a field of interest since you need plenty of data and proper insights can easily be converted into capital. Similar is the case with customer service or brand awareness. It is because Alibaba has understood that such attempts may well become the source of sustainable growth as demands for big data-based marketing.
Big data and marketing- an irreducible pair
Big data has been employed in tandem with Internet of Things to change the way marketing operates. For example, big data will have an immediate impact on retail business because of its ability to work around real-time data. More importantly, marketing strategies can be reworked with the influence of big data as time-based trend analysis can give direct implications of strategies instead of intuitive understandings.
Since Alibaba possesses a huge repository of data, it is natural that it will capitalize on it to gain further grounds. Alibaba is growing in its share statistics too and soon, it may topple other giants like JPMorgan and Raymond James. In fact, Alibaba can actually decide customers’ decisions if given enough opportunity.
Controlling the retail
Since nearly 10 percent of the world population uses Alibaba services directly or indirectly, Alibaba is sitting in a data Everest which can be easily used to channelize customer’s desire to buy specific products. Corporate ad campaigns can be rejuvenated to create specific targets and the ads can be easily modelled to ensure that they return with commendable customer traffic to their websites.
However, no one is sure how data monetization will provide effective returns as this model of business is a typical high-margin one. However, as per the experts are concerned, they believe that it will only grow in the years to come because marketing priorities will be high to open up new markets in Asia and Africa. More importantly, the old markets need to be reworked too.