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Marketing of the Future - digital proximity marketing

Marketing of the Future - digital proximity marketing | Big Data & Digital Marketing | Scoop.it

How to develop a digital model that can manage dynamic, bidirectional and omnichannel communication, within digital marketing and proximity marketing?

Luca Naso's insight:

First article in a series of 3 about Digital Proximity Marketing.

 

Very good reading for those interested in building models to improving customer experience, within the context of Omnichannel and Digital Communication.

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Big Data & Digital Marketing
Data analytics as the key to know your customers and offer them what they really want.
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How big data and analytics are making retailers more customer-centric

How big data and analytics are making retailers more customer-centric | Big Data & Digital Marketing | Scoop.it

Retailers today have to face a new breed of empowered customers who are always connected and have more information on products than sometimes even the retailers do. Being customer-centric is the new competitive differentiation for retailers today

Luca Naso's insight:

A recent IBM Institute for Business Value study notes that leaders are 166 percent more likely to make most decisions based on data, and 75 percent of leaders cite growth as the key source of value from analytics.

 

In the new IDC retail insights study: “Business Strategy: Big Data and Analytics Lay the Foundation for Revenue Growth,” it is noted that, in 2013, approximately 50 percent of retailers were using big data and analytics to inform pricing strategies, market intelligence and customer acquisition, with more retailers to join in next two to three years.

 

The various functions of a retail business, such as marketing, merchandising, supply chain, operations and customer service, must wear different hats at different times and should think about how others perceive their brands, as well as what they can do to enhance customer centricity.

 

Here are some examples of how IBM helped four famous retailers (Luxottica, BestBuy, Elie Tahari and Macys)

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Cloud computing is going to absorb your big data workloads, too

Cloud computing is going to absorb your big data workloads, too | Big Data & Digital Marketing | Scoop.it
There has been a spate of product announcements and integrations over the past few weeks signaling that many big data workloads — including, and especially, Hadoop — will soon be ready to run reliably in the cloud.
Luca Naso's insight:

I cannot think of any other place for Big Data but the cloud!

Amazon and Microsoft are clear leaders at the moment, but there is a lot of movements and Oracle might well catch up.

My Hadoop clusters have always been running on the cloud and will always be (I am currently using HDInsight on Azure).

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64% of business organizations are investing in big data in the next year

64% of business organizations are investing in big data in the next year | Big Data & Digital Marketing | Scoop.it
Adopt big data or get left behind. Business Review USA takes a look at why your business needs to get on the big data bandwagon.
Luca Naso's insight:

Big Data can help to make your company more customer-centric.


1. With Big Data you can collect and analyze massive amounts of data based on individual customers, and your business can customize each customer's experience.

 

2. With Big Data you can automate customer data collecting. This will save time to your employees and allows for a quality sales experience for your customers.


3. Data Security - Big data addresses security threats quickly, accurately, and oftentimes before they ever become a company-wide issue.

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Top Trends in Digital Marketing

Top Trends in Digital Marketing | Big Data & Digital Marketing | Scoop.it
From wearables and Big Data to personalization and multichannel – what the new “digiconomy” means for the future of digital marketing
Luca Naso's insight:

The digital revolution is bringing several changes to our lifestyle and to the way companies make successful business.


Here are my top 4:

 

1. Multichannel and crosschannel
Among those aged 16 to 45, the cell phone has replaced the television as the dominant format.

 

2. Data-driven marketing
Companies collect vast amounts of data on how consumers purchase and use products. Special algorithms analyze this data and turn it into useful insights.

 

3. Customer journey
The customer journey is the best way of understanding what the customer wants. This is where predictive analytics and big data play a key role.

 

4. Wearables and nearables

Smartwatches, wearables, nearables, and the Internet of Things are the next big trends. They offer users a multisensual experience.

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Big Data: The 4 Layers Everyone Must Know

"The different stages the data has to pass through on its journey from raw statistics to actionable insight."


Via Ana Cristina Pratas
Luca Naso's insight:

The main purpose of Big Data is to use data to create actionable insights.

 

In order to achieve such a goal, the data itself has to pass through a series of 4 layers:

 

1. Data Source
2. Data Storage
3. Data Processing/Analysis
4. Data Output

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kral2's curator insight, September 21, 10:53 AM

Here is a clean "Big Data 101", in only 12 slides. 5 minutes to get at least an overview and understand if you have something to do with this huge buzz word or not :-)

 

For System Integrators, the challenge is cleary to be involved building what's need for layer 2 & 3 : say scale-out storage and massive parallel compute nodes!

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A Predictive Analytics Primer

A Predictive Analytics Primer | Big Data & Digital Marketing | Scoop.it
What you need to know and ask.
Luca Naso's insight:

Predictive analytics are gaining in popularity, but what do you—a manager, not an analyst—really need to know in order to interpret results and make better decisions? 

 

The quantitative analysis isn’t magic—but it is normally done with a lot of past data, a little statistical wizardry, and some important assumptions. Let’s talk about each of these.


1. The Data: for good predictions you need good data;

2. The Statistics: regression analysis is what is usually used;

3. The Assumptions: every model has some assumptions, beware that assumptions can be invalid sometimes ...

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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

 

 

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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.

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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

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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

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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"


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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.

 

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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.

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3 Big Benefits of Big Data in Gaming

3 Big Benefits of Big Data in Gaming | Big Data & Digital Marketing | Scoop.it

According to VentureBeat, sales for video games dipped by 2 percent in 2013. While nothing can stop the video game machine at this point, it can be improved, and big data may be the answer.

Luca Naso's insight:

1. Better Gaming Experience.

Our real life produces tons of digital data, imagine how much data your virtual life can generate ...

 

2. higher Gamer Engagement

Data can help to fine tune the difficulties players can find during the game.

 

3. Increased In-Game Revenue

Upselling is becoming the standard in monetizing games. Data on customer usage should be mined to increase the efficiency of this revenue stream.

 

Ubisoft is already leveraging Big Data power, as Halo 4. A revolution is on the horizon.

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Amazon epic fail

Amazon epic fail | Big Data & Digital Marketing | Scoop.it

Sometimes even the best ones can get it wrong.

Luca Naso's insight:

Increase profit or improve customer experience?

 

Big Data is a great tool. If used wisely it can deliver great value and long-lasting success.

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From Big Data to Insights: The Blueprint for Your Business

From Big Data to Insights: The Blueprint for Your Business | Big Data & Digital Marketing | Scoop.it
Data is really only valuable if you can translate it into actionable insights. Here, we lay out the framework for how businesses can put these insights to work to drive business goals.
Luca Naso's insight:

In 1910, Scottish writer and poet Andrew Lang said, "He uses statistics as a drunken man uses lampposts—for support rather than illumination." Decades later, many modern businesses still do just that, using data to support rather than drive their decisions.


Here you can find some simple suggestions on how to create a method that can help you to make sense out of your data (whatever their size):


1. Defining the data - easy and simple: do not neglect

2. Building the framework - the most difficult part: sketch, prepare and visualise

3. From data to action

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The Next Big Thing In Sports Data: Predicting (And Avoiding) Injuries

The Next Big Thing In Sports Data: Predicting (And Avoiding) Injuries | Big Data & Digital Marketing | Scoop.it
Can data tell a player's future? Teams like the San Antonio Spurs and New England Patriots are betting on it.
Luca Naso's insight:

In sports, injuries don’t just cost wins. They cost money. By one estimate, teams across Major League Baseball spent $665 million last year on the salaries of banged-up guys and their replacements.


Now, the fast-growing industry of performance analytics says it can minimize those massive losses. The trick: using data to anticipate how an athlete will get hurt before it actually happens.


Performance analytics have the potential to extend a player’s career, but it can also reveal hidden physical problems and shorten careers. If a player is shown to be at a heavy risk for injury, what owner is going to pay that person big bucks?

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LE ROUX Arnaud's curator insight, September 30, 2:21 AM

La Data au service du prédictif dans le sport dans le but de prévenir les blessures, afin de réduire des coûts... vous en pensez quoi ? 

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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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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.

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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."

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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.

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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.

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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

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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

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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, 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.