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Big Data & Digital Marketing
Data analytics as the key to know your customers and offer them what they really want.
Curated by Luca Naso
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Analytics and Big Data: A 5-Step Path to Value

Analytics and Big Data: A 5-Step Path to Value | Big Data & Digital Marketing | Scoop.it

 

How the Smartest Organizations Are Embedding Analytics to Transform Insight Into Action

Luca Naso's insight:

Top Performers consistently apply analytics in almost every activity across their organization. They prefer Analytics over Intuition 5 times more than Low Performers.


This Survey by MIT Sloan, in collaboration with IBM, draws a clear picture on how organizations can approach big data, what the major challenges are and how a successful analytics culture can be established.


Organizations are usually found in one of these 3 stages:

1. Aspirational: just started with analytics. The main target is to improve cost efficiency. Are not very rigorous.

2. Experienced: use analytics to guide actions, target at growing revenues, some use of rigorous approaches, applications are limited for future strategies.

3. Transformed: use analytics to prescribe actions, use analytics at all levels also in day-by-day activities, use rigorous approaches.

 

Sometimes organizations transition from state 1 to 2 to 3.

 

The Survey suggests a 5-step methodology for successfully implementing analytics-driven management:

1. Focus on the biggest and highest value opportunities

2. Within each opportunity, start with questions, not data

3. Embed insights to drive actions and deliver value

4. Keep existing capabilities while adding new ones

5. Use an information agenda to plan the future

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Vincent Desestret's curator insight, June 24, 9:28 AM

How the Smartest Organizations Are Embedding Analytics to Transform Insight Into Action

Glenn Wallace's curator insight, June 24, 1:17 PM

Let's keep growing in knowledge

Pavel Škerlj's curator insight, June 26, 7:30 AM

Analytics in action.

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56% Of Enterprises Will Increase Their Investment In Big Data Over The Next 3 Years

56% Of Enterprises Will Increase Their Investment In Big Data Over The Next 3 Years | Big Data & Digital Marketing | Scoop.it

These and other insights are from the jointly produced CapGemini and EMC study, Big & Fast Data: The Rise of Insight-Driven Business.

Luca Naso's insight:

This report is telling us that Big Data is truly a game changer.

 

1. Redesigning market shapes:
64% of senior executives said that big data is changing traditional business boundaries and enabling non-traditional providers to move into their industry.

 

2. Boosting or damping companies:

65% agree that they risk becoming irrelevant and/or uncompetitive if they do not embrace big data.

 

3. Requires a faster pace:

45% view their current internal IT development cycles for new analytics to be too long and not matching their business requirements.

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Big Data: Profitability, Potential and Problems in Banking

Big Data: Profitability, Potential and Problems in Banking | Big Data & Digital Marketing | Scoop.it
9 out of 10 financial institutions believe big data will separate the winners from the losers in banking, but hurdles hinder progress.
Luca Naso's insight:

According to research by Capgemini, banks investing in analytics to understand customer attrition have a 12% lead over their competitors!

 

Moreover:
1. with only 37% of customers satisfied with their bank’s understanding of their needs and preferences
2. and with 40% of customers not sure whether they will stay with their bank in the 6 months time


this research indicates how customer analytics could help banks increase their revenues and gain market share.

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LuceCEM's curator insight, May 20, 2014 4:47 AM

More than 70% of banking executives worldwide recognize the importance of achieving greater customer centricity, however only 37% of customers are satisfied with their bank’s understanding of their needs. The lack of a Big Data Strategy and the difficulties of analyzing the huge amount of information banks already have are key issues the financial institutions need to solve to optimize their customer service.

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Big Data Big Profits

Big Data Big Profits | Big Data & Digital Marketing | Scoop.it

78% of mobile activity is data, and not voice.

72% of CEOs report that marketers can rarely explain the incremental business that marketing spend can generate.


These data points validate the need for Big Data-based analytics to increase return on marketing investment, and ultimately making profits.

Luca Naso's insight:

Infographic produced by McKinsey & Co.

 

Facts:

1. Better marketing analytics can improve returns by 10-20%

2. Big Data leaders are 5% more productive and make 6% higher profit

 

Do you really need to know more before making your company a data-driven one?

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Nathalie Prinet-Houairi's curator insight, November 27, 2013 9:35 AM

Pour de meilleures analyses des data conduisant à un meilleur ROI. Pour de plus petites campagnes, plus ciblées donc plus efficaces

Mc Kinsey

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Get hired! Businesses seek out data scientists to support big data initiatives

Get hired! Businesses seek out data scientists to support big data initiatives | Big Data & Digital Marketing | Scoop.it
A large number of businesses are recruiting data scientists in a bid to build up the right skills to support board-level big data initiatives.
Luca Naso's insight:

42% of UK companies are looking to recruit data scientists in big data analytics roles.

 

But 58% of the executives asked said they were struggling to find candidates with the right mix of skills.

 

Although technical experience remains of greatest importance, other essential attributes include

1. problem-solving skills (cited by 43%, rising to 55% in Germany),

2. analytical skills (42%)

3. and creativity (35%).

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Big data paying off across the business world

Big data paying off across the business world | Big Data & Digital Marketing | Scoop.it
What true tangible effect does the implementation of big data have? Is it really adding money to companies’ bottom lines?
Luca Naso's insight:

Tech Pro Research polled 144 respondents worldwide, many of them from small businesses.


1. Clear and present profits

The numbers show significant progress from just a few years ago, when most small businesses doubted they had the resources required to embrace big data.

54% firms are now aboard the data bandwagon

26% say they have future plans to do so. 

 

2. An employment boom
Among organizations that have implemented big data or plan to do so, 53% say they intend to hire additional employees in the field, however 46% report difficulties finding qualified candidates for big data jobs.

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Agencies hot for big data, but plans and resources are lacking

Agencies hot for big data, but plans and resources are lacking | Big Data & Digital Marketing | Scoop.it
Big data can save government $500 billion with the right technology in place, but most IT execs say their agencies lack an adequate strategy, a MeriTalk survey finds.
Luca Naso's insight:

Again, and yet again: if you want to unlock Big Data, you need a good plan first of all.


More than 85% of business and IT leaders agreed that big data offers substantial value in its ability to make more informed business decisions and foster a data-driven organization.


However, 52% rate big data project success so far as lukewarm (or somewhat successful).


60% of the respondents notes that big data projects typically take at least 18 months to complete.

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Why Big Data is the Next Frontier for Innovation

Why Big Data is the Next Frontier for Innovation | Big Data & Digital Marketing | Scoop.it

Learn about the power of big data, and how businesses need to come up with ways to manage and make sense of all the information

Luca Naso's insight:

Lots of information about Big Data from New Jersey Institute of Technology.

 

The upper half of the infographics introduces Big Data with the usual buzz words. The remaining has a lot of interesting statistics.


My 6 takeaways from the infographics:

1. $300 billion, what US could save in Healthcare

2. +60% in operating margin (retail)

3. 73% of companies have already increased revenues thanks to big data

4. 56% of IT decision makers believe that finding the right staff is the biggest challenge

5. "Query and reporting" is the Top 1 capability currently available

6. "Transactions" and "Log Data" are the most common source of data currently collected and analysed (88% and 73% respectively).

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FLYONIT's curator insight, May 30, 1:44 AM

Big data and mobile platform, will do wonders for consumers!

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Big Data Pays Off Big Time

Big Data Pays Off Big Time | Big Data & Digital Marketing | Scoop.it

Organizations that have actually implemented Big Data projects report "overwhelming satisfaction" with the results, according to a new survey from Accenture Analytics.

Luca Naso's insight:

"While a significant number of organizations may still be standing on the sidelines, Big Data users who start and complete projects see practical results and significant value," Accenture said.


Bigger companies seem to get the biggest benefits because they have a better understanding of the scope, value and importance of Big Data. Not because they have more money.


To benefit from Big Data, Accenture advised companies to:

1. Explore the entire Big Data ecosystem;

2. Start small then grow;

3. Be nimble;

4. Focus on building skills.

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Call Centres Suffer From Big Data Overload

Call Centres Suffer From Big Data Overload | Big Data & Digital Marketing | Scoop.it

Nearly half of all contact centres consistently collect and report on metrics that they never use to improve the customer experience, according to a new survey.

Luca Naso's insight:

"Given the advancements in the online customer experience with sales and support, customers expect to be able to get right to what they need when they call"

 

According to this survey, call centres are indeed collecting data, but they are not harnessing them: more than 60 percent of call centres can't provide customer information proactively to an agent.

 

49 percent of agents report overall productivity and efficiency challenges when they have to ask customers for basic contact information.

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CFOs Take Back Seat in Big Data Drive

CFOs Take Back Seat in Big Data Drive | Big Data & Digital Marketing | Scoop.it

A growing number of companies are sifting through huge piles of data in search of insights.

 

But relatively few business and IT executives say they have their chief financial officers to thank for it.

Luca Naso's insight:

Among the more than 900 executives surveyed:

1) 15% said the chief information officer was their company’s biggest champion of Big Data,

2) followed closely by the chief executive, at 14%.

3) The CFO was cited as the main advocate by just 8% of the respondents.


And yet 70% of companies using Big Data say it primarily helps them with generating revenue (compared with the 30% who use it to control costs).


Where are the CFOs?

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Jean-Michel Franco's curator insight, November 7, 2013 1:40 AM

As thare are a lot of CIO that report to the CFO, this can explain the debates that we currently hear the relationship between CMO and CIO. 

Marketing is leading the Big Data efforts in most companies, and CIO need to take the driver seat too in this context

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Big Data Handbook

The use of new forms of data is not an evolution. Instead, powering big data supply chains, and innovating through new forms of analytics, is a step change.

Luca Naso's insight:

Break trough the hype and understand where companies are in their Big Data journeys (in Supply Chain).

 

3 most likely systems to benefit from Big Data project:

89% Demand planning

83% Order management

81% Price Management

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Making a Case for Digital Transformation

Making a Case for Digital Transformation | Big Data & Digital Marketing | Scoop.it
Are you heading towards a digital transformation? A new study from Capgemini and MIT Sloan Management Review shows that the opportunity offered by new digital technologies is clear. Making it happen, however, is a little fuzzy.
Luca Naso's insight:

Digital transformation is the use of new digital technologies (social media, mobile, analytics or embedded devices) to enable major business improvements.


Once companies start to invest in digital technologies and learn how to manage it effectively, there are great benefits. The report cites gains in one or more of three areas: better customer experiences and engagement, streamlined operations, and new lines of business or business models.


The 3 biggest traps on the way to digital are:

1. No sense of urgency

2. Not enough funding

3. IT system limitations

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