Are you going to drown or prosper in the “post-data scarcity” world? Presented by Justin Massa, Founder & CEO, Food Genius at the September 9th Evening With Experts event held by the Chicago AMA at 1871.
6. Many Roles, Many Use Cases
Designed for manufacturers, distributors and restaurant or grocery chains, Food Genius
Reports provides visibility into menu trends with an easy to use tool that aggregates menu
mentions of ingredients, dishes and frequently occurring items on menus.
7. A Cautionary Tale: Poutine
• 2007: Food & Wine, Noble
Agency
• 2009: Grub Street, Village
Voice
• 2010: QSR Magazine
• 2011: Burger Business, Food
Channel, Center for
Culinary Development
(CCD), MonkeyDish
• 2012: Business Insider,
Burger Business (again),
Prepared Foods
• 2013: QSR Magazine (again)
3rd Quarter, 2013
8. What is “big data”?
Three (or Five) V’s
• Velocity
• Variety
• Volume
• Veracity
• Virtuosity
Image
source:
greenbookblog.org
9. From a Trickle to a Flood
90% of the world’s digital data has
been generated in the last 2 years.
Image
source:
blog.mindjet.com
10. We are on the cusp of a
“post-data scarcity” world.
It is equal parts exciting, terrifying, and stressful.
11. data and insights that
are available
data and insights that
matter to your business
Sorting signal from
noise is getting harder
and harder.
The Big Data Challenge
12. The Stuff of Dreams and Nightmares
In a world where you can make
(and market) anything, how do
you know what to make?
13. The “causation v. correlation” debate is heating up.
This is Just the Beginning…
14. How to Play Moneyball in the Food Industry
Image
via
climbinghigherpictures.com
• Success is a hybrid approach that
melds creativity and perspective with
analytics.
• Neither a pure data nor pure “gut”
approach works.
15. 1. Know Who You Are…
…otherwise you'll get lost in the data.
"Wawa has always been viewed as a c-
store, but we now want to be viewed as
a restaurant that sells gas.”
former Wawa CEO Howard Stoeckel
2012 Restaurant Leadership Conference
16. 2. Eat the Elephant One Bite at a Time
image
source:
mikkiblogs.com
17. 3. Focus on Operationalizing Insights
• Recency and correlation
reign supreme - avoid
obsessing over “why” (but
be careful what questions
you try to answer)
• Seek out insights that you
can operationalize today
– avoid trying to boil the
ocean.
• Create systems that can
adapt to a rapidly shifting
environment.