The word “metadata” has different meanings for different people. Most people think of this as the embodiment of big brother grabbing information about everything we do and say. More fundamentally, metadata is really data that describes other data.
Companies today are grappling with the Internet of Things (IoT), a large network of physical devices that extends beyond the typical computer networks, encompassing devices, industrial equipment, sensors, and extended products. For some manufacturers everything they build could feed into IoT, from cars to buildings or even consumer products. While [...]
As has come evident, big data is one of the most important investments a brand can make. The stakes are huge — consulting and technology firm Capgemini has suggested that data can improve performance by 41 percent over a three-year period. Given the potential returns, what board would hesitate to sign off on a significant investment in big data?
But using big data to improve a business means more than just collecting the information, or even analyzing it — companies must develop a strategy for how to use the information to build their brands. Unfortunately, many firms are using big data tactically, rather than strategically. Marketers, in particular, are not realizing the full potential of big data —they’re mainly using it to drive programmatic advertising.
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