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Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
The Yin and Yang of Big Data
Simon Chadwick
Managing Partne...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
The Future of Research Series
• Annual study of change in t...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Special thanks to our 2013 partners
The SEEK Company
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
TECHNOLOGY DRIVING
FORCE IN MARKETING RESEARCH
2003 2005 20...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
The Investor’s Perspective
2011:
$800m
2012:
$1.7bn
2013:
$...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
$0
$200,000,000
$400,000,000
$600,000,000
$800,000,000
$1,0...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
$0
$100,000,000
$200,000,000
$300,000,000
$400,000,000
$500...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
So what is BIG DATA?
Here’s how a few people from
the indus...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
What is Big Data?
“Big Data is essential. By the way, what ...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
“There’s data that exist in the world through technology
an...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Big Data has led to some
interesting CONUNDRUMS.
Simon Chad...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Clients and market researchers
want to understand what the ...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
There is also some VAGUENESS
around where it fits, and WHIC...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Then there is also the concern
around the COST OF IMPLEMENT...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
As the market research
function embraces BIG DATA as a
deci...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
One, there is a lot of data, but is it
the RIGHT DATA? What...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Have the tools used to ANALYZE,
SYNTHESIZE, and MINE for in...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Data scientists are great at
ANALYSIS but lack the necessar...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
There is also the concern over PRIVACY.
Simon Chadwick, Cam...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
VISUALIZATION will also need to
play a significant role in ...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
So, is BIG DATA The Holy Grail?
Does it paint the COMPLETE ...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
CORRELATION
can never replace
CAUSATION.
Simon Chadwick, Ca...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
There is a need beyond Big Data,
the need to CONNECT with t...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
The more we have Big Data, the closer
we need to get to our...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
“I think it’s’ easy for me to care for consumers because I
...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Empathy as a RESEARCH TOOL
has profound implications on the...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
“We have a lot of great analysts but they can’t tell me wha...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
So, what talent will we need?
?
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
So, what talent will we need?
?
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
So, what talent will we need?
?
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
So, what talent will we need?
?
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
So, what talent will we need?
?
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
In truth, we need all of them
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
THANK YOU
Simon Chadwick
Managing Partner
Cambiar LLC
Anouk...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
The Sponsors for this Event
If you are interested in sponso...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Q & A
Anouk Willems, InSites Consulting, Netherlands
NewMR ...
Simon Chadwick, Cambiar LLC, USA
NewMR Lecture Series May 2014
Thank You!
2014 Cambiar, LLC - All Rights Reserved
Simon Ch...
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Simon Chadwick - May lecture series - 2014

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Simon Chadwick presentation to the NewMR May 2014 Lecture Series - The Yin and Yang of Big Data

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Simon Chadwick - May lecture series - 2014

  1. 1. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 The Yin and Yang of Big Data Simon Chadwick Managing Partner Cambiar LLC USA 2014 Platinum Sponsor
  2. 2. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 The Future of Research Series • Annual study of change in the U.S. market research, insights and analytics industry • Reflecting the views, experiences and opinions of CMOs, Insights VPs, research company leadership and (this year) new entrants and young researchers • 2009: Qualitative (with ARF) • 2011 and 2012: Quantitative • 2012: Extended to Latin America • 2013 study: – 33 IDI’s (Phone and Face-to-Face) – Sample and methodology available on request
  3. 3. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 Special thanks to our 2013 partners The SEEK Company
  4. 4. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 TECHNOLOGY DRIVING FORCE IN MARKETING RESEARCH 2003 2005 2007 2009 2011 2013
  5. 5. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  6. 6. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  7. 7. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 The Investor’s Perspective 2011: $800m 2012: $1.7bn 2013: $3.2bn Source: Cambiar Capital Funding Index
  8. 8. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 $0 $200,000,000 $400,000,000 $600,000,000 $800,000,000 $1,000,000,000 $1,200,000,000 $1,400,000,000 $1,600,000,000 $1,800,000,000 Market Research Analytics Platform Business Intelligence Investment Category 2011 - 2013 (Excl. Outliers) 2011 2012 2013
  9. 9. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 $0 $100,000,000 $200,000,000 $300,000,000 $400,000,000 $500,000,000 $600,000,000 $700,000,000 $800,000,000 Big Data Social Media Mobile Other Web Analytics Predictive Analytics Speech Analytics Investment in Analytics 2012 - 2013 2012 2013
  10. 10. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 So what is BIG DATA? Here’s how a few people from the industry are defining it. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  11. 11. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 What is Big Data? “Big Data is essential. By the way, what is Big Data?” (Client) “Large sources of unstructured data that may have insights.” (Agency) “Big Data is an immense amount of raw materials of consumer behavior that is NOT the finished product.” (Client) “Big Data is synthetic development of intuition.” (Agency) “Big Data is a buzzword.” (Client) “Big Data is a marketing term.” (Agency)
  12. 12. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 “There’s data that exist in the world through technology and that give insight into our lives – what we care about, what we search for, what websites we go to, how we use our phones, who we are texting – many, many different things. If you know how to read it and you can access it and you can process it, then we gain very, very unique insights into consumers, into people.” “To me, Big Data is a marketing term. Databases have been around for decades. Big Data is just saying they are getting bigger.” (Large MR Company) (Large database company)
  13. 13. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 Big Data has led to some interesting CONUNDRUMS. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  14. 14. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 Clients and market researchers want to understand what the BEST USE of it is, and WHAT ROLE it can play in their organizations. CONUNDRUM #1 Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  15. 15. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 There is also some VAGUENESS around where it fits, and WHICH ORGANIZATION owns this function. CONUNDRUM #2 Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  16. 16. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 Then there is also the concern around the COST OF IMPLEMENTATION: will it cost a lot of money, and will it yield a robust RETURN ON INVESTMENT? CONUNDRUM #3 Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  17. 17. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 As the market research function embraces BIG DATA as a decision making tool, it needs to overcome some HURDLES. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  18. 18. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 One, there is a lot of data, but is it the RIGHT DATA? What is being measured? How RELEVANT is it? Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  19. 19. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 Have the tools used to ANALYZE, SYNTHESIZE, and MINE for insights from this large mass of data evolved at the same pace? Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  20. 20. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 Data scientists are great at ANALYSIS but lack the necessary STORYTELLING SKILLS. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  21. 21. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 There is also the concern over PRIVACY. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  22. 22. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 VISUALIZATION will also need to play a significant role in the WIDESPREAD APPLICATION of Big Data. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  23. 23. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 So, is BIG DATA The Holy Grail? Does it paint the COMPLETE PICTURE? And, is it ENOUGH? Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  24. 24. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 CORRELATION can never replace CAUSATION. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  25. 25. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 There is a need beyond Big Data, the need to CONNECT with them, not as consumers, but as PEOPLE. Empathy is the answer, the yin to the yang of Big Data. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  26. 26. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 The more we have Big Data, the closer we need to get to our consumers “We need to connect with our consumers emotionally – if we promise to improve their lives.” (Client) “We need to understand our consumers as people.” (Client) “Big Data is important but the why is much more important.” (Client) “Suppliers need to walk in the shoes of the consumer, live it, show it. Have some foresight, show involvement and commitment.” (Client) “Nothing replaces the customer. We still need to talk to people.” (Agency) Deeper Longitudinal Tell their stories
  27. 27. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 “I think it’s’ easy for me to care for consumers because I don’t look at a consumer and say they are my secret to higher penetration. I don’t walk into someone’s home and shake their hand and say ‘with this consumer I will have higher share numbers’. I don’t look at a consumer and see an Excel spreadsheet with yellow, green and red. I don’t look at people and see metrics. I look at people and see people.” Large CPG Client
  28. 28. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  29. 29. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  30. 30. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 Empathy as a RESEARCH TOOL has profound implications on the SYNTHESIS PROCESS too.
  31. 31. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 “We have a lot of great analysts but they can’t tell me what to do differently. They can’t tell our clients what to do differently. Hence you need to find the right person or a group of people that bring together both hard skills – the ability to analyze – as well as soft skills – the ability to synthesize and say ‘my experience tells me we need to be doing this in this situation.’ The ability to analyze and the ability to synthesize are two different skills. To have both in one individual is hard but those that you do find, make sure you keep them!” Large research company
  32. 32. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 So, what talent will we need? ?
  33. 33. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 So, what talent will we need? ?
  34. 34. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 So, what talent will we need? ?
  35. 35. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 So, what talent will we need? ?
  36. 36. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 So, what talent will we need? ?
  37. 37. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 In truth, we need all of them
  38. 38. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014
  39. 39. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 THANK YOU Simon Chadwick Managing Partner Cambiar LLC Anouk Willems, InSites Consulting, Netherlands NewMR Lecture Series April 2014 2014 Platinum Sponsor
  40. 40. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 The Sponsors for this Event If you are interested in sponsoring a future NewMR event Email Michele.Poynter@TheFuturePlace.com 2014 Platinum Sponsor
  41. 41. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 Q & A Anouk Willems, InSites Consulting, Netherlands NewMR Lecture Series April 2014 Ray Poynter The Future Place 2014 Platinum Sponsor Simon Chadwick Cambiar LLC
  42. 42. Simon Chadwick, Cambiar LLC, USA NewMR Lecture Series May 2014 Thank You! 2014 Cambiar, LLC - All Rights Reserved Simon Chadwick simon@consultcambiar.com For more information on Cambiar’s Research Reports or Services:

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