Tag Archives: Big Data Analysis

Live from FOCI 2013: The Journey from Data to Information to Decision Making

Camille P. Schuster, Ph.D., of the California State University of San Marcos,  took us on the Journey from Data to Information to Decision Making today.

Data is not a decision, data gives you reference points for influence. Take a look at website, in-store, social media, and mobile, treat it like a forensic case, business scenario investigations.

Identify the problem, choose your tools, solve the problem.

About the Author


Valerie M. Russo, Social Innovation Lead, Senior Strategist at IIR USA, has a background in technology, anthropology, marketing and publishing.  Russo has worked in a variety of digital media roles at Hachette Book Group, Aol, and Thomson Reuters. She is a published poet and maintains a literary blog. She may be reached at vrusso@iirusa.com. Follow her @Literanista.  

At the intersection of Market Research and Big Data

Related articles

Big Data ‘ different names for the same thing?

Okay, we
cannot avoid the truth. Obviously ‘Big Data’ is here to stay. 

For myself
I can say that I am by no means a Big Data expert. Large surveys with more than
3.000 participants still have the ability to impress me regarding the enormous amount
of data. Maybe I am ‘old school’ :-) 

Nevertheless
I am curious to learn more about ‘Big Data’. Doing so I recognized
a lot of well known things from the very beginning of my market research career.
Once upon a
time I was working for a German telecommunication company. That was the time
when mobile phones were primarily used for calling and messaging and smartphones
haven’t been invented yet.
Big brands were
called Nokia, Siemens and Sony Ericsson and not Apple and Samsung’ However, for
each of the more than 20 million customers every minute calling, every message,
every megabyte of data was recorded, primarily to bill the right amount of money
(flatrates were an exception, mainly offered to and used by business customers). There has been ‘Big Data’ 10 – 15 years ago. 
Similar to
now, one of the big challenges in this time was to find solutions of getting
use out of the huge amount of data that has been growing minute by minute,
hour by hour, day by day’ 
Why? Because
there was (and there still is) a need to understand consumers’ behavior in
order to serve the right customer with the right offer at the right time’ An increase
in efficiency regarding campaign management was the order of the day, especially
in times when the market has got more and more saturated. So analytical CRM came
into play and was fueled by Data Mining.
We did a lot of interesting project combining
records from the data warehouse with market research results in order to
predict behavior. This was a challenge not only because of data protection
laws.
I really
like the word ‘Data Mining’ because to me it bears some fine connotations such
as ‘craftsmanship’ and ‘working hero’.  In my perspective the attractiveness of Data Mining declines during the past 10
years, but neither I know exactly if this is true nor understand why the
perception has changed.
Now we are having
not only big data but ‘Real Big Data’. I am pretty sure that ‘Data Mining’
already has experienced a revival because of what is now called Big Data. And again
I am by no means expert for this.
Maybe you are as curious as I. Let’s learn
more about Big Data at TMRE via the ‘Data Analytics and BIG Data’ sessions (and
maybe about the “rebirth of Data Mining’.

———–

Today’s guest post is from Christian D??ssel (@olympiamilano). Christian is Senior Research Director at MM-Eye, a market research and research consulting firm in Hamburg / Germany helping clients from US and Asia to research Europe.
He has worked for TNS, TBWA and other advertising, strategy and market
research agencies helping clients from industries such as finance,
transport and logistics, telecommunication and entertainment to
understand consumers through market research and to increase
implementation excellence. He will be live blogging from The Market Research Event 2012 this November 12-14 in Boca Raton, Florida. If you’d like to join him, register today and mention code TMRE12BLOG to save 15% off the standard rate!

How to Enhance Your Targeted Marketing Interactions Using Customer & Product DNA

Last month at the 12th annual Shopper Insights in Action event, Hari Hariharan, Vice President of Analytical Solutions & Business Development at FRACTAL ANALYTICS, presented an ROI & MEASUREMENT session on Enhancing Targeted Interactions with Customer and Product DNA. Last week, Fractal Analytics announced its Customer DNA solution for personalized marketing.

They shared the news with us below:

Fractal Analytics, a leading provider of Big Data predictive analytics, announced a breakthrough analytics solution that redefines the way marketers engage with consumers. Customer DNA is an advanced machine-learning solution that drives extreme personalization and relevance to increase affinity and loyalty based on a deeper understanding of each customer’s preferences. The solution has been implemented by a national retail group to enhance target marketing, store promotions, assortment and pricing.

Customer DNA infers consumer personality traits and preferences from behavior across multiple channels and from multiple data sources such as business transactions, consumer provided information, social networks and third party information. The Big Data that drive Customer DNA are processed by Hadoop for speed and efficiency. The solution applies an advanced scientific approach to continuously update and reassess what the system understands about consumers – based on what they buy, how they prefer to shop, how and when they respond to seasonal promotions or discounts, as well as how they express themselves in social networks.

Natwar Mall, SVP, Fractal Sciences at Fractal Analytics, said, ‘Customer DNA will bring back the personalized service experience that was delivered previously only by ‘mom & pop’ stores. It will help large organizations maximize revenue by targeting shoppers with efficient one-to-one message and offer interactions across campaigns and customer touch points.’

Mall added, ‘Data, science and technology are converging to create unprecedented opportunities to build breakthrough solutions for companies. In response to the high demand from companies that need to deliver a high ROI from Big Data analytics, we developed an advanced analytics organization called Fractal Sciences. Staffed by our best and brightest, Fractal Sciences’ mission is to apply the latest scientific advances and find new synergies across disciplines to bring more cutting-edge solutions to solve key market issues. The Customer DNA solution is among this team’s latest key wins.’

The Customer DNA model is designed to support both Business- to-Consumer and Business-to-Business organizations for retail as well as consumer goods, hotel and entertainment, financial services, insurance, airlines, and direct distributers. In addition to personalized marketing, the solution supports merchandise planning, product assortment and inventory management.

About Fractal Analytics

We believe analytics is critical to deeply connect with consumers, earn customer loyalty, make better decisions to reduce waste, and ultimately improve lives. Fortune 500 companies partner with Fractal to build breakthrough analytic solutions, set up analytical centers of excellence, and create a culture of data driven decisioning.

We solve problems, operationalize solutions to drive results, and ultimately drive change in organizations towards fact-based decisioning. We help businesses: (a) Understand, predict and influence consumer behavior; (b) Improve marketing, pricing, supply chain, risk and claims management; (c) Harmonize data, visualize information, build dashboards and forecast business performance.

For more information: www.fractalanalytics.com

Datalympics!

Today’s post comes from TMRE Guest Blogger, Katie Clark. She is also known as @InsightsGal on Twitter and a client-side market researcher, project manager, and social media maven. 

I am by no means a Big Data expert.

That’s why I’m excited to learn more about Big Data at TMRE via the ‘Data Analytics and BIG Data’ sessions.  Depending on who you speak with, the definition for Big Data differs. From petabytes and exabytes of data to simply more data than an organization can currently handle with the tools commonly used to capture and process it.  As a ‘numbers geek’ the topic of Big Data fascinates me!



You know what else fascinates me? The Olympics.  I sit mesmerized for 16 days watching stories of triumph, defeat, and overcoming adversity to achieve Olympic glory.  Yep, I was one of those kids who climbed up on couch pillows, envisioning they were an Olympic podium to receive my gold medal. When I got older I competed (not on THAT level!) in synchronized swimming…and if you don’t believe that’s a sport, try holding your breath for up to three minutes while underwater, upside down and treading water with your hands for a start.

As a research and analytics-focused person, what I think is especially notable about this Olympics is the data. Now, there are some big numbers, such as 10,500 Olympic athletes and 4200 Paralympic athletes, 302 medal events, some 60,000 meals a day cooked for athletes, and so on. And then there are some BIG numbers:

  • -For the first time ever in the United States, NBC is offering every moment of competition live via nbcolympics.com, which equates to around 3,500 hours of coverage.  Many of you reading this work in media research and know that’s a lot of video storage bytes!
  • -There were an estimated 1billion people tuning in to watch the opening ceremonies worldwide, and a documented 40.7 million people tuning in on NBC, making it the most-watched opening ceremony for a summer or winter Olympics ever.
  • -To keep London secure, there are close to 2,000 security cameras and 37,000 civilian and military personnel working on security,-Mobile carriers such as Vodafone were expecting a ‘significant increase’ to the 45 terabytes of data, 90 million calls and 155 million texts they handle daily.
  • -Let’s not forget social media ‘ we’ve already seen television analysis of what is trending on Twitter regarding the Games (the Queen skydiving!).  There were a documented 9.66 million mentions of the opening ceremony last Friday.

‘and those are just a few!

Data from the Games will be analyzed not only by NBC and the IOC, but also governing bodies of the various sports such as FIFA, US Swimming, etc. The data analyzed will not only update the record books, show us how folks are ingesting the coverage (mobile? TV? Live? DVR-ed?), show us what sports are trending, but will also inform the organizing committees and media planning for Sochi and Rio.

If this whets your appetite for more Big Data discussions, I look forward to seeing you at some of the TMRE Big Data sessions.  To hold you over until then, someone is looking out for us numbers-junkies of the Olympics at this Olympics data blog!

____________
More about Katie: Based in Portland, Maine, Katie manages the market research team at Diversified Business Communications. She has worked with companies large and small and in industries such as software, fragrance, finance, and entertainment to help them move the business forward through actionable insights derived from market research. She is passionate about bringing the’Voice of the Customer’ inside the organization. The opinions expressed here are her own and not those of her employer.

If you’d like to join Katie at TMRE 2012 this November 12-14 in Boca Raton, Florida, register today and mention code TMRE12BLOG and save 15% off the standard rate! For more about this year’s program, download the agenda.

Big Data and the Government: What has Todd Park uncovered?

Todd Park is looking at certain aspects of the government as a startup.  Why? He’s the Cheif Technology Officer with a lot of data that has to be organized.  The government produces so much data every day – what could lie behind it?  Look a what opening up weather data did for the private sector.  Not to mention the way that GPS has transformed the way the nation gets from A to B.  One of Park’s successful initiatives before this position at Health and Human Services was the creation of the Health Data Initiative.  They can take every day data and apply it to public safety, energy, education and non profits.  By capturing and translating this data, they will eventually be able to create a transparent and efficient government.  For more on the interview with Park, visit Fast Company.

Can big data help companies become more transparent and operate more efficiently?  This fall at The Market Research Event, we’ll have a track dedicated to this new trend including speakers from LinkedIn, Nestle Purina Petcare Russia, Advanced Auto Plus and the Home Depot to share how they’re using big data to uncover insights and share with the vast amounts of data that is now being created.  For more information on these presentations and the rest of the agenda, download the brochure.  If you’d like to join us in Boca Raton this November 12-14, register today and mention code TMRE12BLOG to save 15% off the standard rate!

What aspects of your business do you see being improved if you embrace and properly analyze some of the big data you’re collecting?

What are a few misconceptions about big data?

Immense amounts of data is being gathered every day.  However, with all this new data that is being collected, there are still a few things that researchers misunderstand according to Brian Gentile at Mashable. What are a few of them?

  • -Big data is more than the amount of volume that is produced. It’s about the velocity at which the data is produced. The variety of data that is collected is important as well.
  • - There is not a one-size fits all program for big data. The program used to analyze the data should be should be customized to handle and output the data with the results in mind for each project.
  • -Even though there are a variety of data points collected from the big data, this does not mean it’s unstructured. Gentile at Mashable believes it should be called multi-structured
  • -Big data is not just for social media analysis and feelings. It may have begun this way, but now more companies have the power to analyze the data they bring in.
This fall at The Market Research Event, we’re introducing the all new track “Data Analysis and BIG Data.”  In this track, we’ll hear from companies who are entrenched in this new form of analysis including LinkedIn, Nestle Purina Petcare, Advance Auto Parts, Home Depot, Heineken Mexico, Gerber Products, Takeda Pharmaceuticals and Fidelity Investments.  For more information on their presentations, download the program.  If you want to know more about this year’s program, download the agenda.  If you’d like to join us this November 12-14 in Boca Raton, Florida, as a reader of this blog when you register to join us and mention code TMRE12BLOG, you’ll save 15% off the standard rate!
What are some other common misconceptions about big data?  

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We invite you to join us at The Market Research Event 2012, taking place November 12-14 in Boca Raton, Florida. It is the trusted event brand for developing the career market researchers from transactional partners to transformational leaders.

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Join us as we help transforming insight partners into strategic consultative leaders. Register today and save $500 off the standard rate. Mention code TMRE12BLOG. If you have any questions about this year’s event, feel free to email Jennifer Pereira.