Mad Social Data Scientist
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Mad Social Data Scientist
New perspectives and approaches to social media data can unlock behavioral insights critical to business and marketing success
Curated by Kurt Genden
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How Marketers Use Actionable Data

How Marketers Use Actionable Data | Mad Social Data Scientist | Scoop.it
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Get the Maximum Value Out of Your Big Data Initiative

Get the Maximum Value Out of Your Big Data Initiative | Mad Social Data Scientist | Scoop.it

Companies such as Aetna, American Express, Bank of America, GE, and Wells Fargo, are striving to capitalize on the promise and excitement engendered by Big Data by building and implementing operational business environments, according to a recent survey of more than 50 executives representing leading Fortune 1000 companies.  The desired result is to realize new business insights — more rapidly than competitors — and seize the initiative and market advantage to leap ahead of the field.

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What a Big-Data Business Model Looks Like

There are many possible paths to monetize the big data revolution ahead. What's crucial is to have an idea of which one you want to follow. Only by understanding which business model (or models) suits your organization best can you make smart decisions on how to build, partner, or acquire your way into the next wave.

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Why Data Is the Oil of the Digital Age

Why Data Is the Oil of the Digital Age | Mad Social Data Scientist | Scoop.it

We’re all involved in competitive markets. The winners will be those with the biggest guns, the best technology, and, above all, the most accurate and complete data.  Think of this as fair warning – your competitors are dropping big dollars for data. If you don’t want to be left in the dust, you need to get into the game.

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The Human Algorithm: Redefining the Value of Data

The Human Algorithm: Redefining the Value of Data | Mad Social Data Scientist | Scoop.it

Without interpretation, insight and the ability to put knowledge to work, any investment in technology and resources is premature. But, by investing in human capital to make sense of would be ominous data, organizations can modernize the role of business intelligence to introduce a human touch. SoLoMo analysis becomes the sustenance that feeds the insights for more informed and inspired innovation. The result is nothing less than relevance and a significant competitive advantage.

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Without Human Insight, Big Data Is Just A Bunch Of Numbers

Without Human Insight, Big Data Is Just A Bunch Of Numbers | Mad Social Data Scientist | Scoop.it

With the wealth of data we can now collect and analyze in increasingly sophisticated ways, we have only scratched the surface as to the vast number of advances we might find.  However, in any era with rapid technological change, it's easy to start slipping into what has been termed "technological determinism," to start speaking of the technology as if it drives culture and humanity, rather than thinking of technology as a tool.

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5 Reasons Why Social Media Monitoring Urgently Needs Human Intervention

5 Reasons Why Social Media Monitoring Urgently Needs Human Intervention | Mad Social Data Scientist | Scoop.it
Improving the accuracy (via automation) of your social media monitoring is simply not good enough.
Without human eyes to either validate mentions or spot check the data the accuracy rate will never be even close to 100%.
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Make Room At The Meeting Table--For Your Customer

Make Room At The Meeting Table--For Your Customer | Mad Social Data Scientist | Scoop.it

The simple fact is that your customers couldn’t care less how your systems work, or how complicated your distribution structure is, or what your business challenges are. Nor do they care why you can’t manage to get it together to do what works best for them. They just want what they want when they want it, with no hassle, no unnecessary effort, delivered at a fair price with no tricks, no gimmicks, and no hidden costs or charges. Above all, customers want to take comfort in the idea that they can trust the companies they buy from to respect their interests, even when they aren’t there to watch out for themselves.

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Marketers Flunk the Big Data Test

Marketers Flunk the Big Data Test | Mad Social Data Scientist | Scoop.it

The big-data explosion is driving a shift away from gut-based decision making. Marketing in particular is feeling the pressure to embrace new data-driven customer intelligence capabilities. No wonder a strong appetite for data is one of the most sought-after qualities in new marketers. And yet, a recent CEB study of nearly 800 marketers at Fortune 1000 companies found the vast majority of marketers still rely too much on intuition — while the few who do use data aggressively for the most part do it badly.

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Why Big Data Should Be A Boon For Mobile Marketers

Why Big Data Should Be A Boon For Mobile Marketers | Mad Social Data Scientist | Scoop.it

With global mobile data traffic coming in at 597 petabytes per month in 2011 (8x the size of the entire global Internet in 2000) and estimated to grow to 6,254 petabytes per month by 2015, there’s no disputing the astronomical data quantities of the mobile world. And the data is rich. Including everything from demographics to usage to social to location information, this should be the golden ticket for mobile marketers. But how many marketers are really positioned to leverage Big Data and the unique aspects of the mobile channel?

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Experience-based Segmentation

Experience-based Segmentation | Mad Social Data Scientist | Scoop.it

Most segmentation suffers from being inside-out. You grab the nearest off-the shelf dataset such as age, socio-economic class or spend and use that as a means to segment your audience whether the data is truly differentiating or not. Unfortunately this approach is not an effective means of segmenting and frequently fails to maximise the true revenue earning potential inherent in your experience.

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6 Ways To Use “Big Data” To Increase Operating Margins By 60%

6 Ways To Use “Big Data” To Increase Operating Margins By 60% | Mad Social Data Scientist | Scoop.it

Search engine and social media companies have been trying to figure out how to capitalize on the tons of accumulated data they possess, not only to create more value for their users, but how to monetize that value. “The winner,” according to new Yahoo President/ex-PayPal CTO, Scott Thompson, “will be he who has more data and who knows how to use it better than anyone else.”

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Transforming Big Data Challenges Into Opportunities

While corporations across all industries globally are struggling with how to retain, aggregate and analyze mounting volumes of data, it provides a unique opportunity for innovative startups that recognize the business prospects big data presents. Interactivity is driving big data, with people and machines both consuming and creating it. Digital companies focused on becoming good at aggregating and analyzing the data created by the end users of their product, who then provide their customers with solid insights taken from that data are at a distinct competitive advantage over others in the marketplace. Big data is not just unlocking new information but new sources of economic and business value.

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When it comes to Big Data, social context is king

When it comes to Big Data, social context is king | Mad Social Data Scientist | Scoop.it

The opportunity of Big Data is to understand is the context within which people operate. We're only just beginning to move away from traditional ways of segmenting and targeting customers (based on generalisations), towards approaches that achieve a fine grain understanding of individual interactions, data sharing and connections. Good segmentation is fundamental to brands making the most of their market opportunities – from identifying, attracting and retaining the most profitable customers to identifying the most vulnerable customers to the competition.

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How to Use Big Data to Make Faster and Better Business Decisions

How to Use Big Data to Make Faster and Better Business Decisions | Mad Social Data Scientist | Scoop.it

Big Data is clearly a disruptive technology, but using it successfully is as much art as it is science. The key is integrating Big Data to create a data ecosystem that allows you to generate new insights while executing on what you already know.

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So, You Want To Be A Data Scientist?

So, You Want To Be A Data Scientist? | Mad Social Data Scientist | Scoop.it

Maybe it is not so much that you want to be a data scientist… maybe it is that you either need to be a data scientist or you need to hire one. No matter the field in which you’re working, recent data explosions are revolutionizing the way that people perform their work.

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Anonymous Forum Users Can Be Identified By Linguistics

Anonymous Forum Users Can Be Identified By Linguistics | Mad Social Data Scientist | Scoop.it

Researchers discover ways to identify the authors of anonymous online comments through linguistic analysis. A team of researchers from Drexel University and George Mason University has discovered that up to 80 percent of certain anonymous underground forum users can be identified using linguistics.

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Beyond Automation: The Importance of Human Analytics in Social Media Monitoring

Beyond Automation: The Importance of Human Analytics in Social Media Monitoring | Mad Social Data Scientist | Scoop.it

Social media is generating huge amounts of unstructured data that’s brimming with business insights — from consumer preferences to competitor activities. That’s why many companies are using social media monitoring tools to “listen” to these conversations.

 

However, the real opportunity is what happens after collection. How can you translate your data into actionable insights on factors like customer retention, product development or competitive advantage? How do you use your data to make strategic decisions?  The answer is human analysis, which adds meaningful insight to automated collection.

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How ‘social intelligence’ can guide decisions

How ‘social intelligence’ can guide decisions | Mad Social Data Scientist | Scoop.it
In many companies, marketers have been first movers in social media, tapping into it for insights on how consumers think and behave. As social technologies mature and organizations become convinced of their power, we believe they will take on a broader role: informing competitive strategy. In particular, social media should help companies overcome some limits of old-school intelligence gathering, which typically involves collecting information from a range of public and propriety sources, distilling insights using time-tested analytic methods, and creating reports for internal company “clients” often “siloed” by function or business unit.
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Get Responsibility for Data Out of IT

Get Responsibility for Data Out of IT | Mad Social Data Scientist | Scoop.it
Different kinds of assets, people, capital, technology, and data demand different kinds of management. You don't manage people assets the same way you manage capital assets. Nor should you manage data assets in the same way you manage technology assets. This may be the most fundamental reason for moving responsibility for data out of IT.
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Good Data Won't Guarantee Good Decisions - Harvard Business Review

Good Data Won't Guarantee Good Decisions - Harvard Business Review | Mad Social Data Scientist | Scoop.it

Global businesses have entered a new era of decision making. The ability to gather, store, access, and analyze data has grown exponentially over the past decade, and companies now spend tens of millions of dollars to manage the information streaming in from suppliers and customers.

For all the breathless promises about the return on investment in Big Data, however, companies face a challenge. Investments in analytics can be useless, even harmful, unless employees can incorporate that data into complex decision making.

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Minding your digital business: McKinsey Global Survey

Minding your digital business: McKinsey Global Survey | Mad Social Data Scientist | Scoop.it

Executives expect that new digital technologies will transform their businesses, but many admit their companies are far from prepared in developing capabilities and meeting challenges.

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How Much Data Is Generated Every Minute?

How Much Data Is Generated Every Minute? | Mad Social Data Scientist | Scoop.it
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Make Sure Big Data Gives You Big Value

Make Sure Big Data Gives You Big Value | Mad Social Data Scientist | Scoop.it

It seems like we’re drowning in data, and the cures, including throwing more storage at it, and the relatively new concept of ‘big data’, are worse than the problem.  Big data can create big value, but if you don't know what you're looking for and why you're looking for it before you search for it, it can be a big waste of money.

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Social Data Can Add Years to a CMO's Tenure

Over the last few years, marketing publications have reminded us of the dangers of being a CMO, of which the most lamented was the role's short-tenure. The figure of 22 months in some hot sectors was bandied about regularly. Recent research indicates that the number has risen slightly to 28 months, but by any measure, it's still a short duration for any C-level role.

 

What's going on and should we be worried? The last decade has indeed been tough for and on marketers. Here are some reasons...

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