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Big data, small strategy
 

Big data, small strategy

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89% of all marketers use no data, whatsoever in their decision making process. That is extraordinary. This talk was about how to use lean principles to get started with Big Data in the enterprise

89% of all marketers use no data, whatsoever in their decision making process. That is extraordinary. This talk was about how to use lean principles to get started with Big Data in the enterprise

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  • break it down, Demystify it
  • At one level this is all just good old dataWhat has to happen for data to become big?
  • You have to have a lot of itVariety – sometimes called instrumented
  • Preconception - I like the last one the best – because it describes the issue in a the manner in which it came into beingMost of the talk around big data is phrased in rather negative tone “data tsunami” a lot of talk about “coping”
  • Truth is, a bit like the internet, we were blissfully unaware there was a better way of doing customer service before twitter, before ecommerce you had to walk into a store, before of the problem big data solved, until we had the tools to solve it.Time in 1996 when everyone
  • Take this definition that “A set of technology advances that have made capturing and analysing data at high scale and speed vastly more efficient”These are the technology advances
  • We’ll pick up with Hadoop in a minute
  • Marketing and intelligence point of view
  • New products, new channels to market, new customers
  • Getting to that insight is exponwntiallyahrder than everyone says it is, getting that insight used and understood is even harderWhy?
  • We default to our gut instinct - Very good pshsiological reason whyCognitive effort to use big dataBorne out in data - CBE study, last week, said that just 11% of marketeers at CMO level and below, used any sort of data
  • Born out in the data
  • Effort to make what I’ve got to say useful – want to focus on
  • By defintiion we’re talking about the last 20% - when everythign else is ticking along nicely, big data = optimisation
  • Click to next slide!
  • Strategy by experimentation – or put another way – you’re all entrepreneursoperating in a “low validity environment”Accept this – much easier then to see a way forward
  • This kind of work falls into the non essential pot.Can’t get away from this costing some pennies but…
  • Lots of small, start-up data analytics / big data providers out thereWho desperately want to work with large corporates and will pretty much workScanalogue – big / small data idea -
  • Example / story - labs
  • which you think “big data” might be able to help you solve#Few organisatons have the luxury of hiring a data science team, to sift their data, on the off chance they find something interestingMore often than not – about solving a business issue
  • Do the whole data scientist, hadoop, R – finding patterns,correltions, start running simultions, developing hypoithesis and pulling more data inthing
  • Go round and round this loop, until you start to understand
  • You’ve found a strong correlation between the trends of conversatons in some unstructured social data and purchases next day of a particualr productDon’t say thatRe-humanise it – tell the story of the customer, sitting on their sofa on their iPad, flicking through facebook, stumbling across the conversation, and the interest it sparks, the Saturday morning shoppingtrip with the kidsOnce you’ve found a correlation, some insightBuild a story around itDon’t make the mistake of thinking an audience can be bothered to engage their system 2So for example
  • Shout it from the roof topsUse success to bring people into what you’re doing
  • Rememebr – intrapreneur – you’ll have to change, adapt, be reousrcefulYou’ll learn incredible amounts about your customers and business and yourself – even if you don’t learn the thing you set out to1000s of little experiments are the foundation on which you can build

Big data, small strategy Big data, small strategy Presentation Transcript

  • flux[x] BIG DATA, SMALL STRATEGY Strategy by experimentation[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]hello / Mark Bjornsgaard / Director Fluxx Adventures / Technology incubator / Invests in our own ideas[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]The next 30 mins… / Part 1 – A brilliant theory (10mins)  What we mean by Big Data?  How does it really work?  In the real world / Part 2 – The real story (10mins)  The 7 things they don’t tell you about using big data / Part 3 – Strategy by experimentation (10mins)[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x] WHAT WE MEAN BY BIG DATA?[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x] Big data[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]What is the data in big data? Sales data (epos and online) Web Sensor data analytics Big Documents Advertising and email Data analytics Sets Unstructured CRM social data databases Machine data – website logs[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]How does data become big? Volume Velocity Variety[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x] A definition…“Data that’s an order of “Data that exceeds the “A set of technologymagnitude bigger than processing capacity of advances that have madewere accustomed to” conventional database capturing and analysing systems. The data is too data at high scale and big, moves too fast, or speed vastly more doesn’t fit the structures of efficient” our database architectures”[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]Like its 1996 all over again…[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x] HOW DOES IT REALLY WORK?[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]How does it work? Big data is…..“ A set of technology advances that have made capturing and analysing data at high scale and speed vastly more efficient” Data scientists R Hadoop[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]How does it work? “big data” Your data[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]How does it work? “big data” 6 5 4 3 2 1 0 Your data Category 1 Category 2 Category 3 Category 4[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x] IN THE REAL WORLD[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]In…RetailThen – have a sale Now – target individuals[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]In…online marketing Now – triangulate multipleThen - pipeline data sets to identify targets[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]In…ITThen – data locked in Now – rich, real timeunusable formats analytics[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]In…risk and fraud management Now – telematics andThen – paper validation unstructured data[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]In…law enforcement Now – crime hotspotThen – gut instinct identification[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]In…medical research Now – semantic and NLPThen – keyword searches “understanding”[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]In…sportsThen – subjective “truth” Now – objective insight[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x] PART 2 – IN THE REAL WORLD[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x][x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x][x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • 90% of colleagues don’t really care (and flux[x]probably never will)[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]A Vanguard doesn’t really exist![x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]Use cases are still limited Digital marketing Data Data x exploration retention, d x and ata archiving discovery Big Data Machine- Fraud generated detection x data and x analytics Social network and prevention x relationship analysis[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]Hires are scarce…[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]R and Hadoop aren’t for everyone…[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]Big data only shows us what’s not obvious…[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]Using big data actually means…. / Colleagues who are biologically pre-programmed not to care / No best practice to rely on / Very specific use cases within business / Hiring aching expensive people / To use a software anyone with an IQ of less than 150 shouldn’t go near / All in the cause of…..looking for non conclusive, obscure patterns, which may or may not lead to any business value[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x][x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x] PART 3 – STRATEGY BY EXPERIMENTATION[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]Strategy by experimentation[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]1. Set aside some time (and budget)[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]2. Find a partner you trust[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]3. Get everyone involved[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]4. Identify a business issue you have… What kind of people make the largest Why is the ROI on purchases? my CPC account declining? There’s always a sales spike on How can I drive Thursday sales of evenings – why? recommendations in the check out process?[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]5. Identify data sets which might hold clues Adwords data Social data There’s always a Web analytics sales spike on data Thursday Store footfall evenings – why? Brand tracking Transactional Logistics files data[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]6. Play detective Patterns Relationships Correlations[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]7. Rinse and repeat[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]8. Re-humanise the story…[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]9. Shout about it[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]10. Enjoy the journey[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]To summarise / Define big data for yourself – see how it could apply to you / Accept the challenges / Start small, grow and publicise success[x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.
  • flux[x]Thank you![x] fluxx.uk.com/consults © 2011 – All rights reserved Fluxx Ltd.