Data is a growing priority for communications professionals. With investments by Fortune 1000 companies greater than $10million projected to grow from 35% to 75% by 2017, Big Data is increasingly the currency of today’s Information Age. ‘Data In. Data Out. Transforming Big Data into Smart Ideas,’ underlines the importance of both capturing the right data in the first place (input), as well as analyzing that data and reaching the right insights (output). The publication features seven articles from MSLGROUP and SapientNitro experts, each taking a look at Big Data from a different perspective. Six inspiring data-driven creative initiatives are also featured, including examples from Netflix and McDonald’s. With plans unveiled this month for the proposed European Digital Single Market, ‘Data In. Data Out.’ additionally features an overview of the project, current status, and implications for businesses that are considering or already implementing data activities. We hope you enjoy reading this report and invite you to share your feedback and tips with us @PeoplesLab or reach out to us on Twitter @msl_group.

21. The dichotomy between precision & accuracy
Consider the analogy of throwing darts at
a target: our goal is to hit the very center
every time.
Ÿ A precise individual will be able to
consistently hit approximately the same spot
on the target over the course of many throws -
but this location may not be near the center.
Ÿ On the other hand, an accurate individual will
be able to, on average, hone in on the center
of the target, yet their darts may land with
high variability.
Ÿ The best player is one who possesses both
the ability to replicate their actions and hit the
center of the target at a whim (i.e., both
precision and accuracy).
Low Accuracy
High Precision
High Accuracy
High Precision
High Accuracy
Low Precision
Low Accuracy
Low Precision
x
21Data In. Data Out.
Big data's success depends on
the ability to find the right data