Big Data & Digita...
Follow
Find
9.1K views | +1 today
Scooped by Luca Naso
onto Big Data & Digital Marketing
Scoop.it!

Predictive analytics programs marred by poor planning, flawed models

Predictive analytics programs marred by poor planning, flawed models | Big Data & Digital Marketing | Scoop.it
The success of predictive analytics programs depends on the ability of an analytics team to communicate with corporate management and define goals effectively.
Luca Naso's insight:

A rush to deploy predictive analytics tools without proper planning sets the stage for unmet expectations.


The initial challenge for an analytics team is diligently thrashing out and defining both short- and long-term objectives with corporate and business executives.


Obtaining correct, but irrelevant, information is a waste of time, effort and resources. Close interactions between an analytics team and business managers can help you address the right questions


What's also needed from the top ranks is the endorsement of a corporate culture that values creative thinking, fresh ideas and data-based decision making.

more...
No comment yet.
Big Data & Digital Marketing
Data analytics as the key to know your customers and offer them what they really want.
Curated by Luca Naso
Your new post is loading...
Scooped by Luca Naso
Scoop.it!

The Hidden Biases in Big Data

The Hidden Biases in Big Data | Big Data & Digital Marketing | Scoop.it
Blindly trusting it can lead you to the wrong conclusions.
Luca Naso's insight:

Big Data can be extremely dangerous without a Big Brain to analyse them properly.


Huge data sets ALWAYS contain some relations: some of them are right (causation), others are simply wrong. It pertains to data analysis to uncover the truth.

 

"As we move into an era in which personal devices are seen as proxies for public needs, we run the risk that already existing inequities will be further entrenched.

[...]

This goes beyond merely conducting focus groups to confirm what you already want to see in a big data set. It means complementing data sources with rigorous qualitative research."

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

Using Big Data to Make Better Pricing Decisions

Using Big Data to Make Better Pricing Decisions | Big Data & Digital Marketing | Scoop.it
Harnessing the flood of data available from customer interactions allows companies to price appropriately — and reap the rewards.
Luca Naso's insight:

All companies saw a profit-margin lift of between 3 and 8 percent from setting prices at much more granular product levels.

 

According to McKinsey, up to 30% of companies still fail to deliver the best price.

 

Four steps to turn data into profits:

1. Listen to the data
2. Automate
3. Build skills and confidence
4. Actively manage performance

 

 

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

4 Rules for Knowing When to Invest in Big Data

4 Rules for Knowing When to Invest in Big Data | Big Data & Digital Marketing | Scoop.it

For every story about accelerated financial performance, I can point to ten that talk about mismanaged investments and a loss of interest by leadership in Big Data. 

Luca Naso's insight:

Adopters of Big Data analytics have gained a significant lead over the rest of the corporate world, but you should start your Big Data project if and only if:
1) You have some degree of mastery over business analytics.
2) You are collecting streams of data.
3) Your culture can embrace opportunistic analytics.
4) You have the nerd power.

 

Moving into Big Data without having a grasp on these four principles is like participating in a marathon when you’ve just learned how to scoot across a carpet.

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

What is Hadoop? – Simplified!

What is Hadoop? – Simplified! | Big Data & Digital Marketing | Scoop.it
Hadoop is a savior of this big data world. This article gives an introduction to this tool.
Luca Naso's insight:

This is an extremely basic description of Hadoop, and yet it introduces relevant concepts: parallelism and MapReduce.

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

4 Ways Big Data Can Drive Your Sales to the Next Level

4 Ways Big Data Can Drive Your Sales to the Next Level | Big Data & Digital Marketing | Scoop.it

One of the most well known examples of how Big Data can drive sales is that of Amazon. They have perfected the analysis of all their data in order to increase their sales. But also smaller companies as well as offline companies can use Big Data to drive their sales to the next level.

Luca Naso's insight:

1. Finding new markets and leads

2. Driving repeat sales

3. Reduced prospect research time

4. Predict future sales

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

How digital analytics has changed in the last decade

How digital analytics has changed in the last decade | Big Data & Digital Marketing | Scoop.it

I have also seen, from close quarters, how the digital analytics industry and the underlying technologies have changed; here are some of my observations

Luca Naso's insight:

Digital analytics has changed from being a tool for understanding the past, to a tool for optimizing the present, to a tool for predicting future outcomes.

 

Three main ways in which the digital analytics industry has changed in the last 10 years:
1. Digital analytics has gained center stage
2. If data is generated, it gets collected and analyzed
3. Good visualisation is not an option

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

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.

more...
LuceCEM's curator insight, May 20, 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.

Scooped by Luca Naso
Scoop.it!

Hadoop's rise: Why you don't need petabytes for a big data opening

Hadoop's rise: Why you don't need petabytes for a big data opening | Big Data & Digital Marketing | Scoop.it

So there's not a huge percentage of enterprises in production yet but now the momentum is building, and a huge production wave is coming for Hadoop.

Luca Naso's insight:

At the moment, companies are nowhere near reaching their individual data frontiers. They only use 12% of the data they already have, because data are siloed and they have a portfolio of hundreds of applications!

 

Data science is very different from traditional analytics.

Traditional analytics are based on managers' theories and is a human-driven approach. On the data science side, it's very different. We don't need a big meeting. We don't need your hypotheses. We don't need your ideas. What we need is all the data you've got.

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

Big Data - From Descriptive to Prescriptive

Big Data - From Descriptive to Prescriptive | Big Data & Digital Marketing | Scoop.it

Best Big Data Graphics - As I read through many reports, white papers, press releases, magazine articles and company presentations it occurred to me that visually communicating the value of Big Data is challenging because of the need to convey different concepts simultaneously.

Luca Naso's insight:

A large number of Big Data charts try to represent the following progression:

1. What Happened? (descriptive analytics), 

2. Why Did It Happen? (correlation analytics), 

3. What Will Happen Next? (predictive analytics), and 

4. What Should I Do About It? (prescriptive analytics).

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

Big Data and SaaS: Is It a Match Made in Heaven?

Big Data and SaaS: Is It a Match Made in Heaven? | Big Data & Digital Marketing | Scoop.it
Familiar with SaaS? If not, let us give you a brief introduction. The easier spoken breakdown of Software-as-a-Service, SaaS is a distribution model that d
Luca Naso's insight:

With SaaS, many of the challenges associated with the traditional software distribution model are eliminated right off the bat, essentially making a big data deployment much less of a hassle to deal with.


In an SaaS arrangement, a service provider:

1. hosts the software and delivers it to you over the web.

2. handles all the grueling maintenance aspects that come along with it behind the scenes. 


Microsoft's Windows Azure HDInsight is the perfect example of such an application.


Right now, big data applications are limited in comparison to other fields, but there will surely be more variety available soon.

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

How location data is fueling the wearable revolution (eBook)

How location data is fueling the wearable revolution (eBook) | Big Data & Digital Marketing | Scoop.it

The Year of Wearables may as well be called the Year of Natural Selection.

Luca Naso's insight:

The wearable market is already worth $3 to $5 billion today. In the next two to three years it is expected to be a $30 to $50 billion market.


The winners in the market will make products that users can’t live without, like today’s smartphones.

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

When Big Data and Small Data Work Together

When Big Data and Small Data Work Together | Big Data & Digital Marketing | Scoop.it

Ultimately, success via insight depends not on the size of the data set, but on the effectiveness of the analytics used to generate results.

Luca Naso's insight:

Insights come from Big Brains, not Big Data.


Big Data doesn't necessarily have to be terabytes or petabytes in size to be considered “Big.” Any amount of data that a marketer can't easily convert into actionable insights with internal data management resources can be considered “Big Data”, at least as far as the owner of the data is concerned.


Therefore, when it comes to developing insights, I would say that the size of the data is fairly irrelevant. Ultimately, success via insight depends not on the size of the data set, but on the effectiveness of the analytics used to generate results. 

 

Here are 4 key components for developing actionable insight:

1. Develop a data-centric approach to marketing;

2. Create an appropriate data management infrastructure;

3. Collect relevant data;

4. Use effective analysis tools.

more...
Admin's curator insight, March 4, 8:11 AM

Big Data is not only about big amount of data, but is also about smaller about of data, which cannot be processes with traditional tools.

Rodrigo Nogueira de Carvalho's curator insight, March 31, 8:38 AM

Como pequenas e medias empresas podem começar a melhorar suas análises de informação com poucos dados. 

Scooped by Luca Naso
Scoop.it!

Social Media's New Big Data Frontiers - Insights from Images

Social Media's New Big Data Frontiers  -  Insights from Images | Big Data & Digital Marketing | Scoop.it

Users might feel a knee-jerk suspicion at the idea of self-correcting algorithms mining their photos and thoughts for insights, but surely they’ll be happier when they see ads that they’re actually interested in, rather than spammy banner ads for weight-loss programs and random online learning courses.

Luca Naso's insight:

Great piece with lots of information and links about Big Data's new frontiers on images.

 

Takeaways:

1. According to an IBM survey, 70% of CMOs feel unprepared to deal with Big Data

2. IDC predicts data tidal ways keeps increasing, with social media being leaders

3. Machine learning and AI are more and more commonly applied to marketing, not just for text but also for images

4. Targeted advertisement is expected to benefit the most out of data mining

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

Size doesn't matter: can SMEs conquer Big Data?

Size doesn't matter: can SMEs conquer Big Data? | Big Data & Digital Marketing | Scoop.it
Big Data involves collecting a large volume of information. As SMEs don't have access to the same amount of data as larger corporations, does it mean SMEs can't make use of Big Data? Here is a case study with Ovolo Hotels.
Luca Naso's insight:

Data can be useful in a number of different ways. I like to say that Small Data gives you answers, while Big Data gives you questions.


In this article we read the case study of Ovolo Hotels. it's a small company that is leveraging data to improve their business in many ways.

 

Don't collect data just because Big Data is cool: if you don't use your data efficiently it's all a big waste.

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

The Data Scientist’s Toolbox - Online Course

The Data Scientist’s Toolbox - Online Course | Big Data & Digital Marketing | Scoop.it
The Data Scientist’s Toolbox is a free online class taught by Jeff Leek, Brian Caffo and Roger D. Peng of Johns Hopkins University
Luca Naso's insight:

For those who want to learn about Big Data, Johns Hopkins University offers a "Data Science" Specialization on Coursera, a series of 9 free* courses and a final project (4 weeks each, total 40 weeks):


1. The Data Scientist's toolbox

2. R Programming

3. Getting and Cleaning Data

4. Exploratory Data Analysis

5. Reproducible Research

6. Statistical Inference

7. Regression Models

8. Practical Machine Learning

9. Developing Data Products

10. Capstone Project


*there is a $49 fee to pay (for each course and project) if you want a certified signature track. Signature Track is optional. You can still participate in the course for free and earn a Statement of Accomplishment.

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

Learn About Microsoft's Hadoop Implementation - Free eBook

Learn About Microsoft's Hadoop Implementation - Free eBook | Big Data & Digital Marketing | Scoop.it
A new, free eBook, Introducing Microsoft Azure HDInsight, covers Microsoft's implementation of Big Data through Hadoop compliance.
Luca Naso's insight:

120 pages for professional programmers on how Microsoft is using Hadoop to dive into Big Data:

1. Intro to Big Data

2. Intro to HDInsight

3. Programmgin with HDInsight

4. HDInsight and Data

5. Customisation

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

5 Ways To Build Big Analytics as a Sustainable Competitive Advantage

5 Ways To Build Big Analytics as a Sustainable Competitive Advantage | Big Data & Digital Marketing | Scoop.it

When everyone is focusing on analytics, why not start thinking about building it as a competitive advantage?

Luca Naso's insight:

If you find yourself lost on creating a successful roadmap for your Big Data strategy, go back to the basic:

1. Acquire the resources
2. Build analytics across business verticals
3. Utilize analytics for decision-making
4. Coordinate and align analytics
5. Create a long term strategy

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

Five Things Big Data Isn't

Five Things Big Data Isn't | Big Data & Digital Marketing | Scoop.it

My experiences at this event led me to two conclusions. One, no one really knows what Big Data is, and two, no one knows the right way to position Big Data as a solution.

Luca Naso's insight:

This is a very interesting blog post, with a great pearl of wisdom:

"Big Data is something that you must mature to: you can’t run before you know how to walk"

 

It emphasise a bit too much Big Data not having value in answers rather in the questions will raise

 

Here are the 5 things Big Data is NOT:
1. Big Data isn’t a simple and efficient fix for complex problems
2. Big Data isn’t a solution you can lead with
3. Big Data isn’t “BI on steroids"
4. Big Data isn’t “a solution”
5. Big Data doesn’t lend itself well to “low hanging fruit"


more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

5 Big Data Ted Talks Everyone Needs to See

5 Big Data Ted Talks Everyone Needs to See | Big Data & Digital Marketing | Scoop.it
It's time to learn up about the data revolution, and begin to understand your data rights.
Luca Naso's insight:

Here are 5 wonderful TED/TEDx talks about Big Data.

My favourite is the 3rd one.

 

1. Jennifer Golbeck

Big Data can predict your intelligence from social media behaviour. "My goal is to improve the way people interact online"

 

2. Alessandro Acquisti

Analytics can make our life better, but we must pay a price for that.

We trade autonomy & freedom for comfort.

 

3. Jer Thorp

We have the chance to build the Big Data Business in the good way, just bring the human element into the story.

 

4. Kelvin Slavin

Data, particularly algorithms, are changing the very landscape of our world.

 

5. Philip Evans

Value cannot rely just on having the data, but on leveraging them.

Technology is what is driving the business strategy, and today it is time for data-driven business.

 

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

Big Data in Retail: Examples in Action

Big Data in Retail: Examples in Action | Big Data & Digital Marketing | Scoop.it
Savvy retailers use big data analytics from web browsing, social media, industry forecasts, existing customer records to predict trends, prepare for demand, pinpoint customers, optimize pricing and promotions.
Luca Naso's insight:

Top retailers are using Big Data to gain a competitive advantage:
predicting trends and preparing for future demand.

 

Synchronize prices hourly with demand, inventory and the competition.

 

Pinpoint customers who will likely buy your product and contact them as they wish to be reached, when they are in the right location, and engaging them with personalized real-time offers.

 

Retailers using big data technology are able to provide a smarter shopping experience to influence purchase decisions and edge out the competition.

more...
No comment yet.
Suggested by Sandeep Gupta
Scoop.it!

Is Data Scraping Useful For You?

Is Data Scraping Useful For You? | Big Data & Digital Marketing | Scoop.it
As a business, it is important to always have relevant and useful information on hand for when you might need it. It can however be difficult to acquire all this information and especially to sort ...
Luca Naso's insight:

Web scraping services exist to:
1. make it easier for you to acquire relevant information;
2. help you to gain a competitive edge over your business rivals;

3. get information about your competitors so that you know what they are doing.

 

Good Data scraping works in three processes:
1. pre-processing - a large amount of data is collected;
2. mining - data is cleaned up and the information is sorted into relevant sections;
3. validation - information is authenticated to make sure that it is indeed information your business can use successfully.

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

4 Reasons to do Analytics on the Cloud

4 Reasons to do Analytics on the Cloud | Big Data & Digital Marketing | Scoop.it
What will tip people towards using more cloud analytics? Let’s start with the elephant in the room. Where do you keep your own worldly wealth? Do you keep your money at home under the mattress? No — because you know that banks are more secure, cheaper, and more convenient.
Luca Naso's insight:

1. Cloud Offers Better Security
2. Cloud Offers More Convenience
3. The Data is Increasingly Already in The Cloud
4. Cloud Platforms Are More Flexible

 

Last, but not least, you should use BOTH Integrated On-premise AND Cloud solutions.

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

3 Ways To Leverage Big Data

3 Ways To Leverage Big Data | Big Data & Digital Marketing | Scoop.it

Research and ideas shared at recent INSEAD alumni panel discussions shed light on the elements required to capture and effectively use big data.

Luca Naso's insight:
1. Data-driven business

The main benefit of “big data” is the ability to make better strategic decisions.

 

2. The right set of skills

The biggest reason why some organisations are not considering the use of big data is the lack of capabilities and skills.

it is particularly difficult to find people that understand both worlds – the technical and the business world – and that can also connect the dots between these two worlds.

 

3. Avoid Silos, foster integration

The competitive edge is held by those able to efficiently share and reuse data analytics internally. Too many companies still think in silos.

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

Big Data: The 5 Vs Everyone Must Know

Big Data: The 5 Vs Everyone Must Know | Big Data & Digital Marketing | Scoop.it
Big Data is a big thing. It will change our world completely and is not a passing fad that will go away. To understand the phenomenon that is big data, it is often described using five Vs: Volume,
Luca Naso's insight:

At the beginning there was Gartner, who defined Big Data with 3 Vs:

1. Volume

2. Velocity

3. Variety

 

Then the issue was raised that Big Data new insights can be actually quite uncertain, and so the 4th V arrived:

4. Veracity

 

But all this was still leaving out the deep core, the only reason why one wants to use Big Data:

5. Value

more...
No comment yet.
Scooped by Luca Naso
Scoop.it!

Data Isn't Just for the Big Guys Anymore

Data Isn't Just for the Big Guys Anymore | Big Data & Digital Marketing | Scoop.it
The rise of cost-effective data analytics has given small businesses a way to compete with -- and even surpass -- their larger competitors.
Luca Naso's insight:

Customers expect a lot. They want the right product or service to fit their needs, they want it quickly, and want it to work well.


Data plays into satisfying all of those goals. At its core, data for the small business means streamlining processes and finding what is most relevant to customers.


Here are the main two guidelines:

1. Decisions should be informed by data;

2. Departments within the company need to measure everything. 

more...
No comment yet.