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Data as the New Currency

Data as the New Currency | TheBIWall | Scoop.it

Google “data as a currency,” and you’ll get back search results in the millions. “What if Web Users Could Sell Their Own Data?” asks a blogger for the New York Times.1 A story in Information Management highlights “Big Data Analytics: The Currency of the 21st Century Enterprise.”. You’ll find stories heralding big data as the new currency for science, stories on the personal data marketplace, and even stories on stolen data as a currency—not to mention prominent TED talks, World Economic Forum studies, and multiple books on the subject. The gist of the argument: Personal data has an economic value that can be bought, sold, and traded.

 

Remarkably, one area has gone largely unexplored: the role that government will—or should—play in establishing data as a currency. Given the problems governments face in maintaining stable monetary systems, many data enthusiasts would just as soon have government stay away from this emerging instrument of exchange.


Via The Learning Factor
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The Learning Factor's curator insight, August 20, 2013 5:27 PM

Government is one of the biggest producers of data—and one of the few that deliver data to the public free of charge. Governments already regulate how organizations may use personal data and myriad other issues related to data.

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Navigating The Buyer’s Journey #Infographic

Navigating The Buyer’s Journey #Infographic | TheBIWall | Scoop.it

The buyer’s journey can be difficult to navigate. Research suggests that due to information accessibility, there is increased competition on the order of 48% affecting your customer’s buying experiences. Customers’ expectations are rising (like a river!) and changing rapidly (again!) – they don’t mind switching vendors if they are not satisfied during the buying journey. To capture these dynamics, find this INFOGRAPHIC produced by Aberdeen – on the top challenges faced by businesses and how the best–in-class successfully manage the buyer’s journey


Managing the Buyer’s Journey

 

If your company has the ability to get real-time intelligence such as customer insights – knowing who your customers are and what they want and like – you can deliver targeted messages and offers for better results. Identifying high value customers and knowing the customer sentiment will enable you to effectively manage the buyer’s journey.

 

Today’s social customers are empowered with a myriad of product information – they are mobile-y armed and socially-connected like never before. They’re fully informed of options available to them before they start the journey with you. Are you ready for them?


Via Brian Yanish - MarketingHits.com
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Brian Yanish - MarketingHits.com's curator insight, April 18, 2013 9:28 PM

How we as consumers have changed over the past 10 years. What will the next even 5 years bring to how we make purchases. 


Companies and advertisers are scrambling to get your data and turn you into a buyer.

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Prescriptive Analytics And Big Data: Next Big Thing?

Prescriptive Analytics And Big Data: Next Big Thing? | TheBIWall | Scoop.it
Predictive analytics tells you what will happen; prescriptive analytics tells you what to do about it.

Via Troy Mccomas (troy48)
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