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Big Data Technology, Applications and Analytics
Trends, success and applications for big data
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Big Data, Analytics And The Future Of Marketing And Sales

Big Data, Analytics And The Future Of Marketing And Sales | Big Data Technology, Applications and Analytics | Scoop.it
By Jonathan Gordon (@JW_Gordon), Jesko Perrey, and Dennis Spillecke (@dspillecke) Big Data is the biggest game-changing opportunity for marketing and sales since the Internet went mainstream almost 20 years ago.
Tony Agresta's insight:

Digital data can translate into higher sales with the right automation and analysis in place.   Thirty five percent of pre purchase decisions in the B to B space are made through online research.   Those interactions can be used as leading indicators and potentially trigger points to engage with personalized messaging.   In the B to C world, predictive algorithms have been used for years.  For example, Banks can determine the next most likely next product purchased and retailers can prevent defection with special discounts offered in real-time.  

 

When applying these types of solutions, the dimension of time can be critical. Are transactions slowing down for a specific customer?  Is website access accelerating?   Are downloads of valuable content happening more rapidly?  Are your customers starting to visit competitive sites more frequently? 

 

There's no shortage of data available to answer these questions.  But the variety of techniques (and the complexity of some) to address these issues can be daunting at times.   Analyzing trends over time to isolate important milestones in the customer lifecycle is one way to begin.   Organizing your customers into small sets of homogenous segments is one way to begin.  Are there segments that buy from multiple product categories frequently?  Are there other segments showing a decline in transactions?   Once these segments are identified, isolating patterns of behavior within the segments could lead to a set of rules and event triggers used to personalize messages, improve customer service, introduce new products and offer discounts.  

 

Big Data platforms that allow you to ingest massive amounts of data, classify the data in real time and take action right away can be applied in game changing ways.   Sales and Marketing professionals should focus their attention on customer behavior leading to retention, upsell and improved customer service in a world where competitive pressures are not going away anytime soon.

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NYT: Big Data Is Great, but Don't F

NYT: Big Data Is Great, but Don't F | Big Data Technology, Applications and Analytics | Scoop.it
It is easier than ever to measure and monitor people and machines, but the technology of Big Data is not without its shortcomings.
Tony Agresta's insight:

Intuition helps but there's no substitute for big data technology and analysis.  Technology to ingest, store, search and analyze big data will proliferate across government and commerical sectors in 2013 and beyond.

 

Techniques for segmentation, clustering and modeling data allow organizations to revel meaning hidden inside massive amount of data.

 

Experienced analysts can recommend independent attributes for inclusion in the analysis, variables that have explanatory power in a model or segmentation scheme.  When this experience is coupled with data discovery methods to explore data in an unconstrained way, analysts can pinpoint data elements and relationships that may be correlated with a specific outcome and therefore improve the accuracy of the model.  It’s the combination of intuition, proven experience, flexible discovery tools, proven statistical methods and a full set of data that lead to the fastest, most significant insights.

 

This freedom to explore data has other benefits including identifying missing or poor quality data yielding improved standards and collection processes.  Most of this can be discovered through profiles and histograms of each data field.

 

Data discovery tools, when combined with the approaches referenced above, allow analysts to confirm findings and expand the way analyst’s model data. During this process, the analyst may discover new ways to transform data, group continuous data into categorical data or calculate new data attributes to be used in the analysis. 

 

This class of tools has the added advantage of telling a story about your data using a full complement of visualizations designed to focus the audience on insights and conclusions.  Once the data story is presented to the business, they rapidly draw conclusions to shape programs.

 

Look at the work MarkLogic has done with Tableau Software to better understand the enhanced power of data discovery using the full breadth of both unstructured and structured data. Sure, intuition is important.  But proven analytical methods that leverage new forms of data in real time will give you the most bang for your buck.  

 

http://resources.marklogic.com/library/media/big-data-marklogic-tableau-insights

 

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