“95% of data is fluff”
The panel divulged that despite the increasing amounts of data available, only 5% is truly valuable. Tony referred to this as the “95 – 5 rule”, and panelist Ben Jankowski of MasterCard, added, “data ages like fish, not wine.” Therefore, it’s not only important for companies to use the right data, it’s about using it as close to real-time as possible, for maximum success.
Start small, aim big
All panelists agreed big data is great, yet it was clear that it is necessary to start small. It is recommended to take a stepped approach, and find success in each step before continuing to the next. Tony went on to explain that in helping customers use data, the first challenge to overcome is reach. Once you have your hands around that, you can focus and improve upon your creative....
Via Doug Hall