“The Numerati”: That’s certainly an interesting article. I
mean the value of big data for all kinds of purposes, not just marketing, is a
permanent theme of news articles, posts in social media, opinion pieces. Not
that I’m especially happy with it. I like to be the focus of attention, but not
necessarily THAT kind of attention. But it’s not surprising. And in the Quant.
Analysis class we learned to find correlations between data to forecast demand.
Of course that was on a different level than what “the Numerati” describes. But now on to the different ways in which
businesses can exploit that data collections. As “the Numerati” states, the big
data by itself is useless, like a big puzzle with the pieces thrown randomly on
the floor. What gives it value is the ability to extract targeted information
out of the huge pile of data. The ability to put that information in context
increases the value even further.
In week 3 Seth Godin in the video clip stressed to move away
from the main market segment to the underserved small but well defined fringe
segments. “The Numerati” pushes that concept further by moving away from the
concept of segments altogether and towards the individualization of marketing. That
requires data analysis on an individual level to allow the marketer to serve
the person surfing the web the right advertisement at the right time. Of course
the value of sophisticated big data analysis is not just limited to marketing,
but useful for very diverse purposes, such as city planning, ordering of flu
shots or for workplace improvements.
I also liked reading “The Retailers Guide to Big Data” because
it really gives you a good visual overview how “big data” affects the retail
business. The text shows the areas in retail which the analysis of “big data”
affects most. Not surprisingly marketing comes out on top. And the text also
offers a game plan, explaining the steps that need to be taken.
Somehow I wasn’t able to open “”Big Data and You”.
No comments:
Post a Comment