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How does Big data empower marketing?

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The current and potential uses of Big Data technologies and analytics for Marketing and Customer Experience

Published in: Marketing
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How does Big data empower marketing?

  1. 1. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 1 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph How does Big Data empower Marketing?
  2. 2. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 2 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph Big data platforms are only very large roads
  3. 3. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 3 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph How do large roads empower Marketing? First, Getting all the data we need in (the basics)
  4. 4. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 4 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph It’s more than just going out of the data comfort zone
  5. 5. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 5 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph “Big data is a new perspective on reality” Viktor Mayer-Schönberger Big Data Professor University of Oxford
  6. 6. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 6 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph How does big data empower Marketing? It provides the ability of Understanding the Continuous Customer Experience Awareness of behavior, preferences, emotions, context
  7. 7. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 7 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph But careful, don’t over-do it
  8. 8. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 8 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph Big data is also about rethinking “Discovery” Backbone Discover Decide Activate Automate
  9. 9. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 9 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph Traditional analytics approach is causal 1. Here’s what happened & why 2. This is a new model & its cause 3. Here is the action you should take Discover
  10. 10. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 10 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph New analytics is about unexplained correlations AI/ML based analytics work on possible correlations 1. Here are several possible models 2. Test them and see which one works 3. Scale the best one Discover
  11. 11. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 11 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph What about the “why”? Example: Understanding churn in a Bank Big data can point to the evidence: Customers move money around, refinance their mortgage… But why? And what should we do about it? In this case, a small data study found that most of them were getting a divorce!
  12. 12. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 12 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph Small data The missing question in big data projects
  13. 13. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 13 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph When the “why” is missing, look for small data How an Old Pair of Sneakers Saved Lego ‘Small data’ revealed why kids love those blocks.
  14. 14. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 14 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph How can you really understand consumers?
  15. 15. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 15 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph Do you use technology to align or to Innovate? Use big-data-boxed solutions Build a data-based creativity culture Align with the market Reshape the market Or And
  16. 16. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 16 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph Big Data boxed solutions Reducing acquisition costs Reducing Churn Increase LTV Optimization Pricing decisions * Micro-segmentation * Visibility and analysis of purchase path * Audience amplification, look alike modeling * Social credit scoring Alignwithmarket 2-3years
  17. 17. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 17 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph China social credit scoring The score will take into account: • what you say on social media • Your lifestyle • Hobbies • what you purchase online. • Making unapproved political statements, talking about events the government doesn’t want discussed, or having hobbies and making purchases of which the government disapproves – (video games or golf) – will lower your score Social score = Trustworthiness “Sesame Credit”, the financial wing of Alibaba, is among the 8 approved pilots by the government
  18. 18. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 18 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph China social credit scoring The score will take into account: • what you say on social media • Your lifestyle • Hobbies • what you purchase online. • Making unapproved political statements, talking about events the government doesn’t want discussed, or having hobbies and making purchases of which the government disapproves – (video games or golf) – will lower your score Social score = Trustworthiness “Sesame Credit”, the financial wing of Alibaba, is among the 8 approved pilots by the governments
  19. 19. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 19 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph Not very exciting, right?
  20. 20. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 20 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph You can use data the same way that everyone else does or…
  21. 21. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 21 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph When creative meets big data Next-gen analytic employees: Creative and Analytic Technology will serve as an empowering tool to explore, create and know which questions can be asked
  22. 22. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 22 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph The house of clicks https://vimeo.com/141663270
  23. 23. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 23 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph The next Rembrandt https://www.nextrembrandt.com/
  24. 24. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 24 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph Technology enables opportunity Creativity enables value
  25. 25. STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph 25 STKI’s work Copyright@2016. Do not remove source or attribution from any slide, graph or portion of graph Source, hire or grow the new analytic talents Skilled employees with “analytic” as well as “creative” muscles will be a key asset for marketing Source, hire or grow your future talents “Teams” of cross-capabilities Online courses Data lab for experimentation

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