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By Andrew Medal
After several years of cautious enthusiasm, the marketing and advertising technology sector is now embracing big data in a big way. That’s the good news. The obstacle is that most companies and brands still lack the expertise necessary to analyze huge amounts of data and make it actionable. According to a 2015 survey, most companies seek a specialized skillset that is normally not found in most a typical ad agency. In plain English, these companies are collecting data they don’t yet know how to use. That’s the bad news.
Not surprisingly, new companies that specialize in big data analytics have started to fill this void. For instance, SQream Technologies made a name for itself with rapid, petabyte-scale (that’s a million gigabytes to you and me) big data analytics. For the marketing and advertising sector, this has meant more sophisticated analysis of things such as online activity, point-of-sale transactions and on-the-fly detection of dynamic changes in trends. But why is this so crucial?