marketing data analytics customer retention

Published on August 31st, 2017 | by Guest

How Marketers Will Utilize iRobot Data [Infographic]

You may not know it, but the Roomba vacuuming your home is collecting data as it cleans. Just recently, Colin Angle, chief executive of iRobot, announced the possibility of selling this data to major companies like Apple, Google, or Amazon. After making this statement, and realizing the amount of fear generated about consumer privacy, Angle pedaled back and announced that this would be an optional feature for customers. He also reassured that this data would not be used “as a data asset of a corporation to exploit,”.

Although this consumer data deal may not be happening in the way we first thought, let’s take a look at what would happen if your personal data got into the hands of a marketer.

First off, what kind of data is a Roomba vacuum collecting anyway? As your intelligent vacuum rolls around your house it’s collecting data about your home’s square footage, furniture, and other personal details. So what can marketers do with this data?

Knowing your home’s square footage can help a marketer figure out your household income. From there, they have the information they need to determine what furniture you have, and what furniture you DON’T have. This is the data marketers will use to send you customized and targeted ads that could span from your most frequented websites to your Facebook feed.

If you think you already see enough ads and don’t believe there could be more ads, think again. In 2015, the global digital advertising market reached $153.65 billion and it is predicted to increase by 69% by 2020; meaning the global digital advertising market will be worth $260.36 billion.

Now digital marketers are not going to use the data from your iRobot to just shower you with personalized ads. They are also going to compile your data along with everyone else’s to predict consumer behavior, improve their company’s decision-making, and determine the true ROI of their marketing efforts. In fact, 54% of companies using customer analytics have seen their profits grow considerably.

In the end, consumer analytics can be quite worrisome to consumers, but immensely beneficial to companies that know how to analyze and utilize this data. To learn more about how marketers use data analytics to reach new and existing customers, check out the full graphic below created by Villanova University’s Online Master of Science in Analytics degree program.