Recently I went to Quantcast’s Big Data Summit to hear from the media and adtech industry about the latest trends in big data. These 5 ideas resonated with me.

1. Supernova Big Data Summit, October 2014
5 ideas about
big data

2. Recently I went to Quantcast’s
Big Data Summit to hear from
the media and adtech industry
about the latest trends in big
data. These 5 ideas that
resonated with me.
- Laura Dinneen, Strategy Director
www.bloomworldwide.com

3. The appeal of programmatic buying
comes with a warning
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4. Programmatic buying
Programmatic digital advertising is the fastest growing form of
digital advertising, currently contributing to 25% of total
digital advertising spend. Its immense opportunities for
improved targeting, automation and above all else, increased
efficiency and ROI come with a downside. 12% consumers
have complained directly to advertisers, because of sloppy,
irrelevant and annoying retargeting campaigns. More thought
needs to go into the planning of automated campaigns so that
brand reputation isn’t damaged and money isn’t wasted
chasing the wrong consumers.
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Image credit: h"ps://unsplash.com/thomaslefebvre

5. There is growing tension between
creativity and data
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6. Creativity vs. data
James Dunford from Cotswold Outdoor said that his
relationship with agencies has changed from creative to
technical, and the technical relationships are the ones he’s
concentrating on developing. But we can’t assume this means a
relationship with technology alone – people are just as if not
more important. There’s a current debate in the industry about
data and insight stifling creativity. I don’t believe this to be true
at all (unless the insight is just bad), but I do see the value in
striking the right balance between the two.
www.bloomworldwide.com
Image credit: https://unsplash.com/jacobvalerio

7. Attribution needs to focus on
outcome over action
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8. Outcome over action
I hear a lot about the challenges of attribution and that as an
industry we’re way behind where we should be. Attribution
needs to mature to demonstrate the long-term effects of brand
exposure and engagement. We need to make sure we’re not
forcing ourselves into models that don’t consider the bigger
picture. Chasing short-term ROI can be short-sighted, but is
often what we’re asked to do (marketing managers are
generally only in the job for a couple of years, and need to
demonstrate short-term results). We should also challenge
ourselves to think long-term and broader than digital.
www.bloomworldwide.com
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9. More isn’t just more –
more is different
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Image credit: flickr.com/photos/alkalinezoo/

10. Getting sick of the term ‘big data’ (I don’t like hypey
terminology), I’ve started calling it ‘more data’ instead. But I’m
wrong! Kenneth Cukier from The Economist pointed out that
with data, more isn’t just more – more is different. Advances in
data science and big data are challenging what we know and
how we know it. We no longer need to rely on samples – we
can just get it all. This changes the game and opens the door to
not just more but different possibilities.
www.bloomworldwide.com
Image credit: flickr.com/photos/alkalinezoo/
More is different

11. Big data is the new alchemy
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Image credit: flickr.com/photos/brianscott/

12. Big data is the new alchemy
Data has become a resource, a new raw material. Not only is it
a valuable commodity but it also allows us to create, test and
invent. Now that we can collect, store and process data like
never before, we can play with it to discover things we’d never
expect. Splicing micro data from every farm in America with
meteorological data meant a billion dollars for crop insurance
and seed manufacture companies. Wal-Mart uses customer
data to make sure they have the right products in stock ahead
of changes in the weather. For example did you know that sales
of strawberry Pop Tarts increase 7x before a hurricane?
www.bloomworldwide.com
Image credit: flickr.com/photos/alkalinezoo/

13. That was fun!
Thank you all
for watching
www.bloomworldwide.com
@bloomworldwide
+44 (0) 1273 732 626
hello@bloomworldwide.com
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