Big Data, Big Responsibilities

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A presentation on how Big Data and CSR can be used together to develop a more responsible corporate or non-profit strategy.

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Big Data, Big Responsibilities

  1. 1. Big Data – Big Responsibilities Current and Emerging Trends in Big Data and CSR Stephen Loudermilk, Global Director, Media & Analyst Relations, LexisNexis Chairman, PRSA Tech Section and Treasurer, PRSA Southeast District stephen.loudermilk@lexisnexis.com 678-694-2353
  2. 2. Zoo Atlanta runs conservation programs in Georgia and across the world. • Conservation of wild animals and natural habitats • Work with local communities to converse their environment and promote sustainability Green Initiatives • Green Team • Green Tips and Tips for Kids Research • Giant Panda Research • Great Ape Heart Project Zoo Atlanta is Not Just About Wild Animals 2Penn State Big Data and CSR Presentation
  3. 3. Overview What this Presentation Will Cover Big Data and CSR: The Current and Emerging Landscape Data for Good: The Secret to Communicating More Ethically and Responsibly as a Communicator or Corporation Real-World Case Studies on Using Big Data Ethically in CSR Campaigns Penn State Big Data and CSR Presentation 3
  4. 4. Big Data and CSR: The Current and Emerging Landscape Penn State Big Data and CSR Presentation 3
  5. 5. According to Wikipedia, Big Data is the term for a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications. The challenges include capture, curation, storage, search, sharing, transfer, analysis, and visualization. What is Big Data? 5Penn State Big Data and CSR Presentation
  6. 6. Recent blog post from Shazam… Jim Lucchese, the chief executive of the Echo Nest, a music data company that works with Spotify, Sirius XM and others but was not involved with the Warner-Shazam deal, said that the challenge is not so much getting access to information as having the expertise to interpret it. “The massive amount of data that’s available is incredibly exciting,” Mr. Lucchese said. “The reality is that there is a scarcity of people out there who really know how to make sense of it.” …But It’s Not Just About Zeros and Ones and Lots of Information 6Penn State Big Data and CSR Presentation
  7. 7. Why is It Important and Why Do We Need to Embrace It? 7Penn State Big Data and CSR Presentation It looks at large data sets and turns raw data into “actionable intelligence” and insights to make better, more valuable marketing/PR decisions It provides clarity and clear analysis of information so you can sound like an analyst at the CEO’s table It helps forecast market trends so your marketing/PR campaigns can be more impactful to your customer base in the future It helps monitor the volume, reach and sentiment of social media activity around a product, brand and trend.
  8. 8. Big Data and Predictive Analytics By The Numbers 8Penn State Big Data and CSR Presentation 54% of PR people didn’t know what Big Data is, according to a recent Ragan Communications Survey 91% of marketing leaders believe successful brands use customer data to drive business decisions, according to BRITE/NYAMA 90% of the world’s total data has been created just within the past two years, according to IBM
  9. 9. Think about things from an analytical POV (i.e. be close to your statistician and market researchers) Become a digital citizen and learn more about responsibly using data and information Start experimenting and looking at data in new ways. Become a Big Data collector Work with your legal, CSR and privacy departments to understand laws and regulations Big Data and CSR Skills Important For Becoming Better Communicators in the Future 9Penn State Big Data and CSR Presentation
  10. 10. Twice as Many Top Performing Organizations Use Insights to Guide Future Strategies than Lower Performers 10Penn State Big Data and CSR Presentation 45% 53% 20% 27% 0% 20% 40% 60% Use insights to guide future strategies Use insights to guide day-to-day operations Top Performer Lower Performer Market Insights • Top performing organizations use analytics five times more than lower performing organizations1 • 50% of respondents said that improvement of information and analytics was a top priority in their organizations1 • 60% agreed that their organization has more data than it can use effectively 1 • 70% of high-performing companies will manage their business processes using real-time predictive analytics or extreme collaboration by 2016.2 Sources: 1) Analytics: The New Path to Value, a joint MIT Sloan Management Review and IBM Institute for Business Value study 2) Analysts to Discuss Future BPM Trends at Gartner Business Process Management Summit 2013, March 13-14 in London Analytics To Drive Business Decisions
  11. 11. Social Investment Community Development Environmental Sustainability The Evolution of Corporate Social Responsibility 11Penn State Big Data and CSR Presentation It has come along way over the last 10 years. Now, most major brands have CSR reports. Profit and Loss Shareholder Value Product Investment It used to be all about… Now, it’s much more about…
  12. 12. CSR Needs to Be Part of Every Company’s DNA Penn State Big Data and CSR Presentation 12 CSR Social media Sustainability Product and Customer Value Governance
  13. 13. • Big Data will be used to solve social problems, increase the efficiency of a business or strategize about business goals/objectives • There’s tons of data (both structured and unstructured) being harnessed from the web and millions of public and private resources • Corporations, researchers and communicators need to make sense of it all to solve problems (i.e. helping people in need, predicting/forecasting medical issues, natural disasters). The Intersection of Big Data and CSR 13Penn State Big Data and CSR Presentation
  14. 14. • Gather inputs from a wide variety of key stakeholders to see how your company is perceived from NGOs and government group, suppliers, employees and customers. • Identify and respond to the correct external data. • Social media sentiment and context can give your company a better way to perceive its value • It can be a useful tool for rating CSR and sustainability performance Why Use Big Data to Measure CSR? 14Penn State Big Data and CSR Presentation
  15. 15. • Companies that collect data on their users need to find out how that data will be used and protected. • Have a full understanding of trends in legislation, data breaches, government oversight, advertising/marketing • Key questions: Understanding Big Data Risks Is Essential In Your CSR Strategy 15Penn State Big Data and CSR Presentation How is data privacy being addressed inside your company? Are you evaluating third-party data collection practices? Are you simplifying your communications to the public regarding data usage?
  16. 16. Data for Good: The Secret to Communicating More Ethically and Responsibly as a Communicator or Corporation Penn State Big Data and CSR Presentation 16
  17. 17. • According to Forrester, 56% of business and IT decision see improving the use of data and analytics to improve business decisions. • Sample uses of “Data for good”  Conduct community outreach/philanthropy campaigns using Big Data, social media, and other unstructured sources of data  Use contributory databases to find wanted criminals, terrorists and children It’s Not Just About Collecting Data But Using “Data for Good” 17Penn State Big Data and CSR Presentation
  18. 18. How it can improve corporate citizenship efforts? • Improve reporting accuracy and number of data points • Personalize employee engagement with deeper insights • Redefine market segments But we need to be careful of these caveats… • We are only at the tip of the iceberg • Training and development and helping people become more “data literate • Information security Big Data = Big Corporate Citizenship 18Penn State Big Data and CSR Presentation Source: B+SP’s Corporate Citizenship Center of Excellence
  19. 19. Notwithstanding the NSA PRISM scandal, using a data for good strategy is increasing becoming important in the corporate and non-profit world. • Data for good adds value to the community • Discussion about how people can utilize their personal data to monetize personal data points • Solving major world problems by realizing the power of our personal data for good Tracking Personal Information for Good 19Penn State Big Data and CSR Presentation
  20. 20. Real-World Case Studies on Using Big Data Ethically in CSR Campaigns Penn State Big Data and CSR Presentation 20
  21. 21. Google Flu Trends Analyzes Millions of Searches of Flus Penn State Big Data and CSR Presentation 21
  22. 22. IBM Leverages Its Smarter Planet Research to Capture Info About The Earth Penn State Big Data and CSR Presentation 22
  23. 23. • 4-year project to establish 6 to 8 investigator-initiated Big Data to Knowledge Centers of Excellence • Centers will improve the ability of the research community to use increasingly large and complex datasets through the development and distribution of innovative approaches, methods, software, and tools for data sharing, integration, analysis and management. • The centers will also provide training for students and researchers to use and develop data science methods. NIH Commits $24 Million Annually for Big Data Centers of Excellence 23Penn State Big Data and CSR Presentation
  24. 24. LexisNexis’ Corporate Responsibility Strategy Penn State Big Data and CSR Presentation 24
  25. 25. CSR and Big Data Are Becoming Big Mega Trends But You Need to Apply Them Correctly for Success Stephen Loudermilk 678-694-2353 (office) 678-602-9452 (mobile) stephen.loudermilk@lexisnexis.com Twitter: @loudyoutloud linked.com/in/sloudermilk 25Penn State Big Data and CSR Presentation Key Points: Leveraging CSR and Big Data best practices is transforming the companies and communicators of the future.  Big Data is the future but becoming a “data for good” expert is a smarter way to make a difference as a communicator  Learn from the companies on the cutting edge of CSR and Big Data!
  26. 26. Questions Penn State Big Data and CSR Presentation 26

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