The Power of Small Data


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Everything r2i does for our clients includes a layer of data and analytics that we use to inform the digital strategy and optimize individual tactics. We do this by boiling big data down into manageable small data sets that tell a story. The real value of big data comes to life when you can create intersections and identify meaningful small data sets tied to KPIs, targets and goals.

At the Inbound Marketing Summit in Boston in 2013, r2i Co-founder Chris Chodnicki and VP of Digital Strategy, Eric Jones, discussed the power of small data during a fireside chat. They discussed why relying on small data alone is shortsighted for marketers, the definition of small data, the valuable insights that marketers can get out of small data and how small data can help marketers get down to the last millisecond of activity with a customer.

This deck breaks down a few key facts about big and small data and what marketers can do to efficiently and effectively leverage small data for marketing activities.

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  • The Power of Small Data

    1. 1. The Power of Small Data 1 1
    2. 2. Defining Big Data Petabyte Terabyte Unstructur ed Date Gigabyte Megabyte Kilobyte New Analytics Data Site hits 1980’s Social Data 1990’s Site hits 2000’s Social Data New Analytics Data Site hits 2010’s Social Data New Analytics Data Site hits Present
    3. 3. Defining Big Data Volume of Data • Explosion of data sources especially social • Tera/PetaBytes of data warehouse Velocity • Frequency of data collection • Social streams / real-time and geo-sensor Variety of Data Sources • Multiple disparate data sources • Transaction • Owned / Un-owned data properties Insight • Segmentation • Intersection 3 3
    4. 4. Defining Big Data 4 4
    5. 5. Big Data is Not the Holy Grail for Marketers Risks • Amplifying quantifiable perspectives at expense of valid and real human intuition Not Fully Automated • No black box • Human error, invalid data, inaccuracies • Complex to create intersection, deal with large volumes of data Human Insight • Needs process, KPIs and metrics • Needs human interaction to interpret 5 5
    6. 6. Big Data is Not the Holy Grail for Marketers 6 6
    7. 7. Identifying Small Data Segmentation • Filtering by slices (time, geo, profile, etc) • Intersection of multiple data sources Measure things that are important • Outliers and trends • Watch for out of context data The Last Millisecond • Ability to collect data to create information that allows you to make better business decisions • Insight to effect the decision at the right moment 7 7
    8. 8. How Do You Start? Plan and Start Small ID Data Sources • Site Analytics • Social Streams • Transaction • Un-Owned Determine KPI Metrics • Cross-references / intersection of data • Measure key data points often in an aggregate manner Leverage Technical Tools • ETL • Aggregation, reporting Define Your Target and Goals • Segmentation of audience • What slice of data needs to be analyzed Test and Adjust • Analyze trends, outliers using analytics and graphical tools • Refine – learn what works and does not and make adjustments 8 8