Understanding Big Data

The technical definition of big data is “high-volume, high-velocity and/or high-variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation,” (“The role of Big Data in sports marketing,” 2023, para. 3). Big data benefits sports marketing by providing a wide set of data; with a wide range of data, more effective business strategies can be built. These business strategies not only can benefit the business but also the customers, employees, and players.

Effective sports marketing with the assistance of data can help a player gain more exposure and reach a wider audience. This can lead to increased recognition and a higher profile, which can translate into greater endorsement deals, better contracts, and greater opportunities for career advancement. Fans can also experience benefits such as better ticket pricing and content that caters to their specific needs.

Big data allows for a comprehensive understanding of the audience, even in industries with diverse and vast audiences, such as the sports industry. This understanding encompasses their traits, attitudes, and actions, enabling the prediction of future actions. In essence, big data provides a precise and continually evolving map of the target audience, which can be used to tailor actions, timing, and targeting strategies to effectively reach them (“The role of Big Data in sports marketing,” 2020).